Do you support this bill?

Assembly Bill A3536

2013-2014 Legislative Session

Relates to sales of real property by not-for-profit corporations

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

co-Sponsors

multi-Sponsors

2013-A3536 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd ยง509, N-PC L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5186
2011-2012: A4508
2015-2016: A2968
2017-2018: A7420

2013-A3536 (ACTIVE) - Summary

Relates to sales of real property by not-for-profit corporations; requires repayment of certain funds, grants and tax abatements where real property is sold to a for-profit corporation or other private entity.

2013-A3536 (ACTIVE) - Bill Text download pdf 

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

                                  3536

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 28, 2013
                               ___________

Introduced  by M. of A. TITONE, JAFFEE -- Multi-Sponsored by -- M. of A.
  BOYLAND, CUSICK, MAISEL, WEISENBERG -- read once and referred  to  the
  Committee on Corporations, Authorities and Commissions

AN  ACT  to amend the not-for-profit corporation law, in relation to the
  sale of real property

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

  Section  1.    Section  509  of the not-for-profit corporation law, as
amended by chapter 145 of the laws  of  1991,  is  amended  to  read  as
follows:
S 509. Purchase, sale, mortgage and lease of real property.
  1.  No purchase of real property shall be made by a corporation and no
corporation shall sell, mortgage or lease real property, unless  author-
ized  by  the  vote  of two-thirds of the entire board, provided that if
there are twenty-one or more directors, the vote of a  majority  of  the
entire board shall be sufficient.
  2.  (A)  A  CORPORATION  WHICH SELLS REAL PROPERTY TO ANY ENTITY OTHER
THAN THE STATE OR ANOTHER NOT-FOR-PROFIT CORPORATION WHICH IS SUBJECT TO
THE PROVISIONS OF THIS CHAPTER SHALL REIMBURSE THE STATE AND/OR A  MUNI-
CIPALITY  FOR  ANY CAPITAL FUNDING, GRANTS OR FINANCING RECEIVED THROUGH
THE STATE OR A MUNICIPAL AGENCY OR PUBLIC BENEFIT CORPORATION WITHIN THE
TEN YEARS PRECEDING SUCH SALE.
  (B) A SALE OF REAL PROPERTY BY A  NOT-FOR-PROFIT  CORPORATION  TO  ANY
ENTITY  OTHER THAN THE STATE OR ANOTHER NOT-FOR-PROFIT CORPORATION WHICH
IS SUBJECT TO THE PROVISIONS OF THIS CHAPTER SHALL NOT  BE  EXEMPT  FROM
THE  PAYMENT  OF THE REAL PROPERTY TRANSFER TAX IMPOSED BY SECTION FOUR-
TEEN HUNDRED TWO OF THE TAX LAW.
  (C) ANY CORPORATION WHICH HAS RECEIVED A REAL PROPERTY  TAX  ABATEMENT
WITHIN THE LAST TEN YEARS FOR REAL PROPERTY TAXES ASSESSED ON SUCH PROP-
ERTY  SHALL  REIMBURSE THE TAXING AUTHORITY THE TOTAL AMOUNT OF ANY SUCH
ABATEMENT UPON THE SALE OF SUCH REAL PROPERTY TO ANY ENTITY  OTHER  THAN
THE  STATE OR ANOTHER NOT-FOR-PROFIT CORPORATION WHICH IS SUBJECT TO THE
PROVISIONS OF THIS CHAPTER.
  S 2. This act shall take effect immediately.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.