Bill Text: NY S05109 | 2019-2020 | General Assembly | Introduced


Bill Title: Relates to the creation of a land bank in a city with eight million or more residents by adoption of a local law by the city council and limits board membership to eleven members.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-04-09 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S05109 Detail]

Download: New_York-2019-S05109-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          5109
                               2019-2020 Regular Sessions
                    IN SENATE
                                      April 9, 2019
                                       ___________
        Introduced  by  Sen.  COMRIE -- 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 a city with eight million or more residents
          by adoption of a local law by the city council
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  The opening paragraph and subparagraph 2 of paragraph (a)
     2  of section 1603 of the not-for-profit corporation law, the opening para-
     3  graph as added by chapter 257 of the laws of 2011 and subparagraph 2  as
     4  amended  by  chapter  372  of  the  laws of 2013, are amended to read as
     5  follows:
     6    Any foreclosing governmental unit  may  create  a  land  bank  by  the
     7  adoption of a local law, ordinance, or resolution as appropriate to such
     8  foreclosing  governmental  unit  and  in  addition,  any city with eight
     9  million or more residents may create a land bank by adoption of a  local
    10  law by the city council which action specifies the following:
    11    (2)  the  number  of  members  of  the board of directors, which shall
    12  consist of an odd number of members, and shall be  not  less  than  five
    13  members nor more than [fifteen] eleven members;
    14    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10133-01-9
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