S T A T E O F N E W Y O R K
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3426
2015-2016 Regular Sessions
I N A S S E M B L Y
January 22, 2015
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Introduced by M. of A. BRENNAN, DINOWITZ, COLTON -- Multi-Sponsored by
-- M. of A. CLARK, GLICK, GOTTFRIED, HOOPER -- read once and referred
to the Committee on Corporations, Authorities and Commissions
AN ACT to amend the New York state urban development corporation act, in
relation to the manner in which the directors of the New York state
urban development corporation shall be appointed
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 1 of section 4 of section 1 of chapter 174 of
the laws of 1968, constituting the New York state urban development
corporation act, as amended by chapter 280 of the laws of 1984 and as
further amended by section 104 of part A of chapter 62 of the laws of
2011, is amended to read as follows:
(1) There is hereby created the New York state urban development
corporation. The corporation shall be a corporate governmental agency of
the state, constituting a political subdivision and public benefit
corporation. Its membership shall consist of nine directors as follows:
the superintendent of financial services, the [chairman] CHAIRPERSON of
the New York state science and technology foundation, and [seven] THREE
directors to be appointed by the governor with the advice and consent of
the senate, TWO DIRECTORS TO BE APPOINTED BY THE STATE COMPTROLLER, ONE
DIRECTOR TO BE APPOINTED BY THE TEMPORARY PRESIDENT OF THE SENATE, AND
ONE DIRECTOR TO BE APPOINTED BY THE SPEAKER OF THE ASSEMBLY. THE MEMBERS
APPOINTED BY THE COMPTROLLER, THE TEMPORARY PRESIDENT OF THE SENATE AND
THE SPEAKER OF THE ASSEMBLY SHALL NOT BE EMPLOYEES OF THE STATE. From
the [seven] THREE directors appointed by him OR HER, the governor shall
designate the [chairman] CHAIRPERSON of the corporation [and two others
who shall all serve at the pleasure of the governor. Of the four remain-
ing directors, one of such directors first appointed by the governor
after the effective date of this subdivision as amended shall serve for
a term ending January first next succeeding his appointment, one of such
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01806-01-5
A. 3426 2
directors shall serve for a term ending one year from such date, one of
such directors shall serve for a term ending two years from such date,
and one of such directors shall serve for a term ending three years from
such date]. OF THE DIRECTORS FIRST APPOINTED PURSUANT TO THE CHAPTER OF
THE LAWS OF TWO THOUSAND FIFTEEN WHICH AMENDED THIS SUBDIVISION, THE
THREE DIRECTORS APPOINTED BY THE GOVERNOR SHALL SERVE FOR TERMS OF ONE,
THREE AND FOUR YEARS, THE TWO DIRECTORS APPOINTED BY THE COMPTROLLER
SHALL SERVE FOR TERMS OF ONE AND THREE YEARS, AND THE DIRECTORS
APPOINTED BY THE TEMPORARY PRESIDENT OF THE SENATE AND THE SPEAKER OF
THE ASSEMBLY SHALL SERVE FOR TERMS OF TWO YEARS. Their successors shall
serve for terms of four years each. Directors shall continue in office
until their successors have been appointed and qualified. In the event
of a vacancy occurring in the office of a director by death, resignation
or otherwise, the [governor] ORIGINAL APPOINTING AUTHORITY shall appoint
a successor [with the advice and consent of the senate] to serve for the
balance of the unexpired term. The governor shall appoint the president
of the corporation, with the advice and consent of the senate, who shall
be the chief executive officer of the corporation and who shall serve at
the pleasure of the governor. Such president may be one of the directors
appointed by the governor.
S 2. This act shall take effect immediately.