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Senate Bill S3308

2009-2010 Legislative Session

Authorizes mortgage loans by dormitory authority to certain hospitals and health care facilities operating not-for-profit day care facilities

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Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

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2009-S3308 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §1676, Pub Auth L; add §5-g, NYS Med Care Fac Fin Ag Act
Versions Introduced in 2011-2012 Legislative Session:
S3732

2009-S3308 (ACTIVE) - Summary

Authorizes the New York state dormitory authority to provide mortgage loans to a non-profit hospital corporation, a county or municipal hospital or a non-profit corporation providing a residential health care facility, to finance the acquisition of structures, buildings and equipment associated with the operation of a non-for-profit day care facility located in or as part of such hospital or health care facility.

2009-S3308 (ACTIVE) - Sponsor Memo

2009-S3308 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3308

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 16, 2009
                               ___________

Introduced  by  Sen.  OPPENHEIMER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions

AN ACT to amend the public  authorities  law  and  the  New  York  state
  medical  care  facilities  finance  agency  act, in relation to making
  provisions for the financing of not-for-profit day care facilities

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 2 of section 1676 of the public authorities law
is amended by adding a new paragraph (h) to read as follows:
  (H)  IT SHALL ALSO INCLUDE FACILITIES, TOGETHER WITH ALL ATTENDANT AND
RELATED FIXTURES, EQUIPMENT AND CAPITAL IMPROVEMENTS  NECESSARY  FOR  OR
ASSOCIATED WITH A NOT-FOR-PROFIT DAY CARE FACILITY.
  S  2.  Section  1 of chapter 392 of the laws of 1973, constituting the
New York state medical care facilities finance agency act, is amended by
adding a new section 5-g to read as follows:
  S 5-G. LOANS FOR NOT-FOR-PROFIT DAY CARE FACILITIES.  THE  AGENCY  MAY
MAKE  MORTGAGE  LOANS  TO  A  NON-PROFIT  HOSPITAL CORPORATION, A COUNTY
HOSPITAL, A MUNICIPAL HOSPITAL, OR A NON-PROFIT CORPORATION PROVIDING  A
RESIDENTIAL  HEALTH CARE FACILITY, UPON TERMS AND CONDITIONS AS IT DEEMS
PROPER. THE PROCEEDS OF SUCH  LOAN  ARE  TO  BE  USED  SUBSTANTIALLY  TO
FINANCE  THE ACQUISITION THROUGH PURCHASE OR LEASE OF STRUCTURES, BUILD-
INGS AND EQUIPMENT INCLUDING CONSTRUCTION AND REHABILITATION RELATED  TO
SUCH  PROPERTY  OR THE INSTALLATION OF SUCH EQUIPMENT DIRECTLY CONNECTED
WITH OR ATTENDANT TO THE OPERATION OF A NOT-FOR-PROFIT DAY CARE FACILITY
LOCATED IN OR AS PART OF SUCH A HOSPITAL OR HEALTH CARE FACILITY.
  S 3.  This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09190-01-9

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