Assembly Bill A2813

2015-2016 Legislative Session

Establishes the town of Brookhaven land bank and commission

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Archive: Last Bill Status - In Assembly Committee


  • 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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2015-A2813 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
Conservation
Versions Introduced in Other Legislative Sessions:
2009-2010: A3141
2011-2012: A3949
2013-2014: A4373

2015-A2813 (ACTIVE) - Summary

Establishes the town of Brookhaven land bank and commission for the purposes of acquiring, holding and managing land interests; provides for elected members of the commission; authorizes the commission to issue bonds and notes and establishes a 2% transfer fee on the transfer of real property interests; makes numerous related provisions.

2015-A2813 (ACTIVE) - Bill Text download pdf

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

                                  2813

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

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

AN ACT to establish the town of Brookhaven land bank and commission

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

  Section  1.  For purposes of this act, the words and phrases set forth
in this section shall have the following meanings:
  (a) "Commission" shall mean the town of Brookhaven land  bank  commis-
sion, established by section three of this act.
  (b)  "Fund"  shall  mean the town of Brookhaven land bank fund, estab-
lished pursuant to the provisions of section eight of this act.
  (c) "Institutional lender" shall mean any bank, any insurance company,
and any mortgage company or investment company that made more than twen-
ty mortgages in the preceding calendar  year,  and  any  national  bank,
federal savings and loan association, federal savings bank, bank holding
company, or state or federally chartered credit union.
  (d)  "Land  bank"  shall mean the town of Brookhaven land bank, estab-
lished by section two of this act.
  (e) "Purchaser" shall mean the transferee, grantee or recipient of any
real property interests.
  (f) "Purchase price" shall mean all consideration paid or  transferred
by or on behalf of a purchaser to a seller or his or her nominee, or for
his  or her benefit, for the transfer of any real property interest, and
shall include, but not be limited to, all cash or its equivalent so paid
or transferred; all cash or other property paid or transferred by or  on
behalf  of  the  purchaser  to discharge or reduce any obligation of the
seller; the principal amount of all notes or their equivalent, or  other
deferred  payments, given or promised to be given by or on behalf of the
purchaser to the seller or his nominee; the outstanding balance  of  all
obligations of the seller which are assumed by the purchaser or to which
the  real property interest transferred remains subject after the trans-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07292-01-5
              

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