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

                                  7412

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              May 16, 2013
                               ___________

Introduced  by M. of A. FARRELL -- read once and referred to the Commit-
  tee 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
in connection with the city college of New York; one such corporation or

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

A. 7412                             2

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  5.  This  act shall take effect immediately and shall expire and be
deemed repealed on December 31, [2013] 2018.

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  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.