STATE OF NEW YORK
________________________________________________________________________
5285
2017-2018 Regular Sessions
IN SENATE
March 20, 2017
___________
Introduced by Sen. YOUNG -- read twice and ordered printed, and when
printed to be committed to the Committee on Corporations, Authorities
and Commissions
AN ACT to amend the not-for-profit corporation law, in relation to the
creation of a land bank in Livingston county
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph (g) of section 1603 of the not-for-profit corpo-
2 ration law, as amended by chapter 106 of the laws of 2014, is amended to
3 read as follows:
4 (g) Nothing in this article shall be construed to authorize the exist-
5 ence of more than [twenty] twenty-one land banks located in the state at
6 one time, provided, however, that one such land bank shall be created in
7 the county of Livingston, provided further that each foreclosing govern-
8 mental unit or units proposing to create a land bank shall submit such
9 local law, ordinance or resolution as required by paragraph (a) of this
10 section, to the urban development corporation, for its review and
11 approval. The creation of a land bank shall be conditioned upon approval
12 of the urban development corporation.
13 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10696-01-7
