senate Bill S1626

Provides that the New York state canal corporation may sell or lease canal lands or personal property to governmental entities for less than fair market value

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 03 / Feb / 2009
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 06 / Jan / 2010
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Summary

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Bill Details

See Assembly Version of this Bill:
A7034
Versions:
S1626
Legislative Cycle:
2009-2010
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law

Sponsor Memo

BILL NUMBER: S1626

TITLE OF BILL :
An act to amend the public authorities law, in relation to permitting
the New York state canal corporation to make certain sales and leases
of canal lands and personal property to governmental entities for less
than fair market value


PURPOSE :
To permit NYS Canal Corporation to sell lands to governmental entities
at a below market value price.

SUMMARY OF PROVISIONS :
Section 2897 of the public authorities law is amended by adding a new
subdivision 7.

JUSTIFICATION :
By allowing the New York State Canal Corporation to make certain sales
and leases of canal lands to governmental entities for less than fair
market value, the public interest will be. served through lands
proposed to be used for public parks or other public purposes.

LEGISLATIVE HISTORY :
S.2861 of 2008 - Corporations, Authorities and Commissions Committee

FISCAL IMPLICATIONS :
To be determined.

EFFECTIVE DATE :
Immediate.
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