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A09736 Summary:

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A09736 Floor Votes:

A09736 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9736
 
                   IN ASSEMBLY
 
                                      May 20, 2014
                                       ___________
 
        Introduced by M. of A. WRIGHT -- (at request of the New York State Homes
          and  Community  Renewal) -- read once and referred to the Committee on
          Housing
 
        AN ACT to amend the public authorities law, in  relation  to  government
          sponsored  enterprises;  and  to amend chapter 208 of the laws of 2010
          amending the public authorities law relating  to  the  powers  of  the

          state  of  New  York  mortgage  agency,  in  relation to extending the
          provisions thereof
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  17 of section 2402 of the public authorities
     2  law, as amended by chapter 151 of the laws of 2013, is amended  to  read
     3  as follows:
     4    (17)  "Government  sponsored  enterprises".  Privately owned, publicly
     5  chartered entities, and wholly-owned corporate instrumentalities of  the
     6  United  States  within  the department of housing and urban development,
     7  created pursuant to 12 USC 1717(a)(2)(A), all  created  by  Congress  to
     8  encourage  lending  and  reduce costs primarily in the housing sector of
     9  the economy, and any successor entity or entities created by Congress to
    10  continue to serve said purposes.

    11    § 2. Section 4 of chapter 208 of the laws of 2010 amending the  public
    12  authorities law relating to the powers of the state of New York mortgage
    13  agency,  as  amended  by  chapter 327 of the laws of 2012, is amended to
    14  read as follows:
    15    § 4. This act shall take effect immediately, provided that the  amend-
    16  ments  to  subdivision  5  of section 2402 of the public authorities law
    17  made by section one of this act shall be subject to the  expiration  and
    18  reversion  of  such subdivision pursuant to section 16 of chapter 915 of
    19  the laws of 1982, as amended, when upon  such  date  the  provisions  of
    20  section  two  of  this act shall take effect; further provided that this
    21  act shall expire and be deemed repealed [December  31,  2014]  July  23,
    22  2015.
    23    §  3.  This act shall take effect immediately; provided, however, that

    24  the amendments to subdivision 17 of section 2402 of the public  authori-
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13818-02-4
        A. 9736                             2
 
     1  ties  law made by section one of this act shall not affect the repeal of
     2  such subdivision and shall be deemed to be repealed therewith.