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Senate Bill S3883

2015-2016 Legislative Session

Provides that the New York state canal corporation may sell or lease canal lands or personal property to governmental entities for less than fair market value

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

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2015-S3883 (ACTIVE) - Details

See Assembly Version of this Bill:
A3659
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง2897, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1626, A7034
2011-2012: S2868, A6701
2013-2014: S1970, A1803

2015-S3883 (ACTIVE) - Summary

Provides that the New York state canal corporation may sell or lease certain canal lands or personal property to governmental entities for less than fair market value in the public interest.

2015-S3883 (ACTIVE) - Sponsor Memo

2015-S3883 (ACTIVE) - Bill Text download pdf 

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

                                  3883

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  GRIFFO -- 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 permitting
  the New York state canal corporation to make certain sales and  leases
  of canal lands and personal property to governmental entities for less
  than fair market value

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

  Section 1. Section 2897 of the public authorities law  is  amended  by
adding a new subdivision 8 to read as follows:
  8. A. NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION OR ANY OTHER
LAW, RULE OR REGULATION TO THE CONTRARY, THE NEW YORK STATE CANAL CORPO-
RATION MAY NEGOTIATE, SELL AND ENTER INTO LEASES OF CANAL LANDS AND SELL
OR LEASE PERSONAL PROPERTY TO AND WITH FEDERAL AGENCIES, STATE AGENCIES,
PUBLIC  BENEFIT  CORPORATIONS,  MUNICIPALITIES  OR  ANY  OTHER POLITICAL
SUBDIVISIONS OF THE STATE FOR LESS THAN  FAIR  MARKET  VALUE  WHEN  SUCH
CORPORATION  DETERMINES  THAT SUCH SALE OR LEASE IS IN THE PUBLIC INTER-
EST.
  B. IN DETERMINING WHETHER  SUCH  SALE  OR  LEASE  OF  CANAL  LANDS  OR
PERSONAL  PROPERTY  IS  IN THE PUBLIC INTEREST, THE NEW YORK STATE CANAL
CORPORATION SHALL CONSIDER WHETHER THE SALE OR LEASE WILL IMPROVE PUBLIC
ACCESS TO CANAL LANDS AND THE WATERS OF THE CANAL SYSTEM OR OTHER PUBLIC
LANDS.
  C. THERE SHALL BE NO REQUIREMENT FOR AN APPRAISAL OF SUCH CANAL  LANDS
OR PERSONAL PROPERTY FOR A SALE OR LEASE.
  D.  THE  TERM  FOR  SUCH  LEASES  SHALL NOT EXCEED FORTY YEARS AND ANY
RENEWAL THEREOF SHALL NOT EXCEED AN ADDITIONAL FORTY YEARS.
  E. SUCH SALES OR LEASES SHALL NOT BE SUBJECT TO ANY PUBLIC ADVERTISING
REQUIREMENTS.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07204-01-5

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