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
                                ___________
 
 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.