senate Bill S5777

Signed By Governor
2015-2016 Legislative Session

Relates to the acquisition and disposition of property by land banks

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 26, 2015 signed chap.407
Oct 14, 2015 delivered to governor
Jun 17, 2015 returned to senate
passed assembly
ordered to third reading rules cal.483
substituted for a7911
Jun 11, 2015 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1513
committee discharged and committed to rules
Jun 03, 2015 referred to corporations, authorities and commissions

Co-Sponsors

S5777 (ACTIVE) - Details

See Assembly Version of this Bill:
A7911
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§1608 & 1609, N-PC L

S5777 (ACTIVE) - Summary

Relates to the acquisition and disposition of property by land banks; provides for no filing or recording fees for land banks.

S5777 (ACTIVE) - Sponsor Memo

S5777 (ACTIVE) - Bill Text download pdf

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

                                  5777

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              June 3, 2015
                               ___________

Introduced  by  Sen. VALESKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN  ACT  to amend the not-for-profit corporation law, in relation to the
  acquisition and disposition of property by land banks

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

  Section  1. Paragraph (a) of section 1608 of the not-for-profit corpo-
ration law, as added by chapter 257 of the laws of 2011, is  amended  to
read as follows:
  (a) The real property of a land bank and its income and operations are
exempt  from  all  taxation  by  the state of New York and by any of its
political subdivisions.  NOTWITHSTANDING ANY OTHER GENERAL,  SPECIAL  OR
LOCAL LAW RELATING TO FEES OF CLERKS, NO CLERK SHALL CHARGE OR COLLECT A
FEE  FOR  FILING,  RECORDING  OR  INDEXING  ANY  PAPER, DOCUMENT, MAP OR
PROCEEDING FILED, RECORDED OR INDEXED FOR A LAND  BANK,  OR  AN  OFFICER
THEREOF ACTING IN AN OFFICIAL CAPACITY, NOR FOR FURNISHING A TRANSCRIPT,
CERTIFICATION  OR  COPY  OF ANY PAPER, DOCUMENT, MAP OR PROCEEDING TO BE
USED FOR LAND BANK PURPOSES.
  S 2.  Section 1609 of the not-for-profit corporation law is amended by
adding a new paragraph (a-1) to read as follows:
  (A-1) THIS SECTION GOVERNING THE DISPOSITION OF PROPERTY BY LAND BANKS
SHALL SUPERSEDE SECTION TWENTY-EIGHT HUNDRED NINETY-SEVEN OF THE  PUBLIC
AUTHORITIES LAW IN THE GOVERNANCE OF PROPERTY DISPOSITIONS BY LAND BANKS
AND, AS SUCH, NOTWITHSTANDING ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO
THE  CONTRARY,  SECTION  TWENTY-EIGHT HUNDRED NINETY-SEVEN OF THE PUBLIC
AUTHORITIES LAW SHALL NOT APPLY TO LAND BANKS.
  S 3. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11414-01-5

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