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
                               ___________

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.