Senate Bill S3925

2011-2012 Legislative Session

Enables Schuyler county IDA to finance automobile racing facilities

download bill text pdf

Sponsored By

Archive: Last Bill Status - Stricken

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-S3925 (ACTIVE) - Details

Law Section:
General Municipal Law
Laws Affected:
Amd §§854 & 892-a, Gen Muni L
Versions Introduced in 2009-2010 Legislative Session:
S7179

2011-S3925 (ACTIVE) - Summary

Enables Schuyler county industrial development agency to finance automobile racing facilities.

2011-S3925 (ACTIVE) - Sponsor Memo

2011-S3925 (ACTIVE) - Bill Text download pdf 

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

    S. 3925                                                  A. 6227

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             March 10, 2011
                               ___________

IN  SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment

IN ASSEMBLY -- Introduced by M. of A. FRIEND -- read once  and  referred
  to the Committee on Local Governments

AN  ACT  to amend the general municipal law, in relation to the Schuyler
  county industrial development agency's financing of automobile  racing
  facilities

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

  Section 1. Section 854 of the general  municipal  law  is  amended  by
adding a new subdivision 20 to read as follows:
  (20) "AUTOMOBILE RACING FACILITY" SHALL MEAN ANY CLOSED-COURSE MOTORS-
PORTS  COMPLEX  AND  ITS  ANCILLARY GROUNDS THAT HOLDS AUTOMOBILE RACING
EXHIBITIONS.
  S 2. The opening paragraph of section 892-a of the  general  municipal
law is designated subdivision 1 and a new subdivision 2 is added to read
as follows:
  2.  IN ADDITION TO THE POWERS AND DUTIES NOW OR HEREAFTER CONFERRED BY
TITLE ONE OF ARTICLE EIGHTEEN-A OF THIS CHAPTER, THE AGENCY  SHALL  HAVE
THE POWER (I) TO ACQUIRE, CONSTRUCT, OWN, MAINTAIN, AND LEASE OR SELL TO
AN AUTOMOBILE RACING FACILITY OR PRIVATE BUSINESS CORPORATION ANY INTER-
EST  IN AN AUTOMOBILE RACING FACILITY OPERATED WHOLLY OR WITHIN SCHUYLER
COUNTY, TOGETHER WITH ALL BUILDINGS, STRUCTURES,  MACHINERY,  EQUIPMENT,
FACILITIES  AND  APPURTENANCES  THERETO WHICH THE AGENCY MAY DEEM NECES-
SARY, USEFUL OR DESIRABLE IN CONNECTION WITH THE CONSTRUCTION,  IMPROVE-
MENT  OR  OPERATION  OF  ANY SUCH FACILITY, INCLUDING OVERNIGHT ACCOMMO-
DATIONS AND OTHER FACILITIES INCIDENTAL THERETO AND,
  (II) TO FINANCE SUCH FACILITIES THROUGH THE ISSUANCE OF ITS BONDS  AND
NOTES, WHEN IN THE JUDGMENT OF THE AGENCY, SUCH FACILITIES WILL SERVE TO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09716-01-1

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