senate Bill S5211

Signed By Governor
2013-2014 Legislative Session

Relating to the powers of subsidiaries of the Educational Housing Services Inc.

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Archive: Last Bill Status - Signed by Governor


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 31, 2013 signed chap.294
Jul 19, 2013 delivered to governor
Jun 19, 2013 returned to senate
passed assembly
ordered to third reading rules cal.458
substituted for a7412
Jun 11, 2013 referred to ways and means
delivered to assembly
passed senate
Jun 10, 2013 advanced to third reading
Jun 05, 2013 2nd report cal.
Jun 04, 2013 1st report cal.1113
May 14, 2013 referred to corporations, authorities and commissions

Votes

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Jun 4, 2013 - Corporations, Authorities and Commissions committee Vote

S5211
6
0
committee
6
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
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Corporations, Authorities and Commissions Committee Vote: Jun 4, 2013

S5211 - Bill Details

See Assembly Version of this Bill:
A7412
Law Section:
Public Authorities Law
Laws Affected:
Amd §§1676 & 1680, Pub Auth L; amd §5, Chap 376 of 1998

S5211 - Bill Texts

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Relates to the powers of subsidiaries of the Educational Housing Services Incorporated.

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BILL NUMBER:S5211

TITLE OF BILL: An act to amend the public authorities law, in
relation to the powers of subsidiaries of the Educational Housing
Services Inc.; and to amend chapter 376 of the laws of 1998 amending
the public authorities law relating to the powers of the Educational
Housing Services Inc., in relation to extending the effectiveness
thereof

PURPOSE:

To extend the powers granted to Educational Housing Services Inc. for
an additional five years to 2018.

SUMMARY OF PROVISIONS:

This bill amends Chapter 352 of the laws of 2008 to allow Educational
Housing Services Inc. to continue its utilization of Section 1676 of
the Public Authorities Law until 2018. Chapter 352 allows Educational
Housing Services Inc. to finance new housing utilizing the Dormitory
Authority of New York State.

JUSTIFICATION:

For over 25 years Educational Housing Services Inc., a not-for-profit
organization, has provided dormitory housing to college and university
students in the New York City area. It currently utilizes eight
properties in Manhattan and Brooklyn and has an inventory of over
4,400 beds serving 10,000 students annually. Educational Housing
Services Inc. does not own these residences but rather leases
buildings or portions thereof. The one exception is the dormitory
constructed for the uptown CUNY campus in 2005 which was financed with
DASNY bonds. Currently 25 institutions of higher education utilize
Educational Housing Services Inc. housing. The economic welfare and
110,000 jobs generated by these colleges is directly linked to the
ability of Educational Housing Services Inc. to meet some of the
housing needs of these institutions. There is a dramatic need for
student housing in New York City due to the fact that almost 500,000
students are enrolled in colleges in this region. Educational Housing
Services Inc. is the only non-profit organization that is directly
meeting the enormous demand for student housing. Previous legislation
made reference to a number of Educational Housing Services Inc. sites,
some of which will not continue as student housing due to the removal
of some buildings from the leasing market. This proposed legislation
will allow Educational Housing Services Inc. to continue its important
housing functions without being restricted to properties whose leases
have expired or terminated.

Educational Housing Services Inc., in cooperation with the office of
the Attorney General, has recently undergone a complete restructuring
with a new board whose members, and new CEO, are individuals who are
very experienced in the fields of education, finance, real estate,
public private partnerships and public service.

LEGISLATIVE HISTORY:


New legislation which amends previous statutes extending Educational
Housing Services Inc. powers.

FISCAL IMPLICATIONS:

None

EFFECTIVE DATE: This act shall take effect immediately.

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

                                  5211

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              May 14, 2013
                               ___________

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

AN ACT to amend the public authorities law, in relation to the powers of
  subsidiaries  of  the  Educational Housing Services Inc.; and to amend
  chapter 376 of the laws of 1998 amending the  public  authorities  law
  relating  to  the  powers of the Educational Housing Services Inc., in
  relation to extending the effectiveness thereof

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

  Section  1. The undesignated paragraph of paragraph (b) of subdivision
2 of section 1676 of the public authorities law, as amended  by  chapter
352 of the laws of 2008, is amended to read as follows:
  Educational  Housing  Services Inc., a not-for-profit corporation, for
the acquisition, financing, refinancing,  construction,  reconstruction,
renovation,  development, improvement, expansion, and equipping of hous-
ing for students and/or faculty  at  institutions  of  higher  education
[throughout  the  state and up to five] LOCATED WITHIN THE FIVE BOROUGHS
OF THE CITY OF NEW YORK AND WESTCHESTER COUNTY EITHER BY DIRECTLY OR  BY
CREATION  OF  A wholly-owned [and] NOT-FOR-PROFIT SUBSIDIARY CORPORATION
OR controlled corporations [or], limited liability companies OR PARTNER-
SHIPS, that are not subject to  federal  income  taxation  (except  with
respect  to  any unrelated business income) [as follows: one such corpo-
ration or limited liability  company  for  the  acquisition,  financing,
refinancing,   construction,  reconstruction,  renovation,  development,
improvement, expansion, and equipping of a  dormitory  for  housing  for
students  in  connection  with the city university of New York; one such
corporation or limited liability company for the acquisition, financing,
refinancing,  construction,  reconstruction,  renovation,   development,
improvement, expansion, and equipping of a dormitory located at 401 West
130th Street, New York, New York for housing for students and/or faculty

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10918-01-3

S. 5211                             2

in connection with the city college of New York; one such corporation or
limited  liability  company for the acquisition, financing, refinancing,
construction,  reconstruction,  renovation,  development,   improvement,
expansion, and equipping of a dormitory at 55 John Street, New York, New
York  for  housing  for students and/or faculty; one such corporation or
limited liability company for the acquisition,  financing,  refinancing,
construction,   reconstruction,  renovation,  development,  improvement,
expansion, and equipping of a dormitory at 231  East  55th  Street,  New
York,  New  York  for  housing for students and/or faculty; and one such
corporation or limited liability company for the acquisition, financing,
refinancing,  construction,  reconstruction,  renovation,   development,
improvement, expansion, and equipping of a dormitory at 1760 3rd Avenue,
New York, New York for housing for students and/or faculty].
  S  2.  The  undesignated paragraph of subdivision 1 of section 1680 of
the public authorities law, as amended by chapter 352  of  the  laws  of
2008, is amended to read as follows:
  Educational  Housing  Services Inc., a not-for-profit corporation, for
the acquisition, financing, refinancing,  construction,  reconstruction,
renovation,  development, improvement, expansion, and equipping of hous-
ing for students and/or faculty  at  institutions  of  higher  education
[throughout  the  state and up to five] LOCATED WITHIN THE FIVE BOROUGHS
OF THE CITY OF NEW YORK AND WESTCHESTER COUNTY  EITHER  DIRECTLY  OR  BY
CREATION  OF  A wholly-owned [and] NOT-FOR-PROFIT SUBSIDIARY CORPORATION
OR controlled corporations [or], limited liability companies,  OR  PART-
NERSHIPS  that  are  not subject to federal income taxation (except with
respect to any unrelated business income) [as follows: one  such  corpo-
ration  or  limited  liability  company  for the acquisition, financing,
refinancing,  construction,  reconstruction,  renovation,   development,
improvement,  expansion,  and  equipping  of a dormitory for housing for
students in connection with the city university of New  York;  one  such
corporation or limited liability company for the acquisition, financing,
refinancing,   construction,  reconstruction,  renovation,  development,
improvement, expansion, and equipping of a dormitory located at 401 West
130th Street, New York, New York for housing for students and/or faculty
in connection with the city college of New York; one such corporation or
limited liability company for the acquisition,  financing,  refinancing,
construction,   reconstruction,  renovation,  development,  improvement,
expansion, and equipping of a dormitory at 55 John Street, New York, New
York for housing for students and/or faculty; one  such  corporation  or
limited  liability  company for the acquisition, financing, refinancing,
construction,  reconstruction,  renovation,  development,   improvement,
expansion,  and  equipping  of  a dormitory at 231 East 55th Street, New
York, New York for housing for students and/or  faculty;  and  one  such
corporation or limited liability company for the acquisition, financing,
refinancing,   construction,  reconstruction,  renovation,  development,
improvement, expansion, and equipping of a dormitory at 1760 3rd Avenue,
New York, New York for housing for students and/or faculty].
  S 3. Section 3 of chapter 376 of the laws of 1998 shall be and  remain
in  full force and effect with respect to all projects undertaken pursu-
ant to the authority of such chapter and this act whether by Educational
Housing Services Inc., or its subsidiary.
  S 4. Section 5 of chapter 376 of the laws of 1998, amending the public
authorities law relating  to  the  powers  of  the  Educational  Housing
Services Inc., as amended by chapter 280 of the laws of 2008, is amended
to read as follows:

S. 5211                             3

  S  5.  This  act shall take effect immediately and shall expire and be
deemed repealed on December 31, [2013] 2018.
  S  5.  This act shall take effect immediately, provided, however, that
the amendments to the undesignated paragraph of paragraph (b) of  subdi-
vision 2 of section 1676 and the undesignated paragraph of subdivision 1
of  section  1680 of the public authorities law made by sections one and
two of this act shall not affect the repeal of such paragraphs and shall
be deemed repealed therewith.

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