S T A T E O F N E W Y O R K
________________________________________________________________________
5774
2017-2018 Regular Sessions
I N A S S E M B L Y
February 15, 2017
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Introduced by M. of A. CYMBROWITZ -- read once and referred to the
Committee on Housing
AN ACT to amend the private housing finance law, in relation to the
membership of the New York state housing finance agency, the housing
trust fund corporation and the affordable housing corporation
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 1 of section 43 of the private housing finance
law, as added by chapter 528 of the laws of 1969, is amended to read as
follows:
1. There is hereby created the "New York state housing finance agen-
cy". The agency shall be a corporate governmental agency constituting a
public benefit corporation. Its membership shall consist of the commis-
sioner of housing and community renewal, the director of the budget, the
commissioner of taxation and finance, ONE MEMBER APPOINTED BY THE TEMPO-
RARY PRESIDENT OF THE SENATE, ONE MEMBER APPOINTED BY THE SPEAKER OF THE
ASSEMBLY and four members to be appointed by the governor with the
advice and consent of the senate. The members first appointed by the
governor shall serve for terms ending three, four, five and six years
respectively from January first next succeeding the date of their
appointment. Their successors shall serve for terms of six years each.
Members shall continue in office until their successors have been
appointed and qualified. THE MEMBERS APPOINTED BY THE TEMPORARY PRESI-
DENT OF THE SENATE AND THE SPEAKER OF THE ASSEMBLY SHALL SERVE AT THE
PLEASURE OF THE TEMPORARY PRESIDENT OF THE SENATE AND THE SPEAKER OF THE
ASSEMBLY RESPECTIVELY. In the event of a vacancy occurring in the office
of any member by death, resignation or otherwise, [the governor shall
appoint a successor with the advice and consent of the senate to serve
for the balance of the unexpired term] SUCH VACANCY SHALL BE FILLED, FOR
THE UNEXPIRED TERM, IF APPLICABLE, IN THE SAME MANNER AS THE ORIGINAL
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00763-01-7
A. 5774 2
APPOINTMENT. The provisions of section thirty-nine of the public offi-
cers law shall apply to such members.
§ 2. Subdivision 3 of section 45-a of the private housing finance law,
as added by chapter 67 of the laws of 1985, is amended to read as
follows:
3. The membership of such subsidiary corporation shall [consist of the
commissioner of housing and community renewal, who shall also serve as
its chairperson, the chairman of the agency and one additional member to
be appointed by the chairperson of the housing trust fund corporation
who shall serve at the pleasure of such chairperson. The powers of the
corporation shall be vested in and excercised by no less than two of the
members thereof then in office. The corporation may delegate to one or
more of its members, or its officers, agents and employees, such duties
and powers as it may deem proper] BE THE SAME AS IDENTIFIED PURSUANT TO
SUBDIVISION ONE OF SECTION FORTY-THREE OF THIS ARTICLE.
§ 3. Subdivision 3 of section 45-b of the private housing finance law,
as added by chapter 67 of the laws of 1985, is amended to read as
follows:
3. The membership of such subsidiary corporation shall [consist of the
members of the agency, as may be constituted from time to time. The
chairperson of the agency shall serve as chairperson of the corporation.
The powers of the corporation shall be vested in and excercised by no
less than four of the members thereof then in office. The corporation
may delegate to one or more of its members, or its officers, agents and
employees, such duties and powers as it may deem proper] BE THE SAME AS
IDENTIFIED PURSUANT TO SUBDIVISION ONE OF SECTION FORTY-THREE OF THIS
ARTICLE.
§ 4. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.