| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Nov 15, 2024 |
referred to rules |
Senate Bill S9948
2023-2024 Legislative Session
Sponsored By
(D) 27th Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
Actions
2023-S9948 (ACTIVE) - Details
- Current Committee:
- Senate Rules
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §47, Priv Hous Fin L
2023-S9948 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9948
SPONSOR: KAVANAGH
TITLE OF BILL:
An act to amend the private housing finance law, in relation to increas-
ing the New York state housing finance agency bonding authority
PURPOSE:
The bill would increase the bonding authority of the New York State
Housing Finance Agency ("HFA") by $5 billion.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 increases HFA's bonding authority by $5 billion to a maximum
aggregate of $36.28 billion.
Section 2 sets forth the effective date.
JUSTIFICATION:
2023-S9948 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
9948
I N S E N A T E
November 15, 2024
___________
Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the private housing finance law, in relation to increas-
ing the New York state housing finance agency bonding authority
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (c) of subdivision 1 of section 47 of the private
housing finance law, as amended by chapter 479 of the laws of 2022, is
amended to read as follows:
(c) The agency shall not issue bonds and notes other than state
university construction bonds and state university construction notes,
hospital and nursing home project bonds and hospital and nursing home
project notes, health facilities bonds and health facilities notes,
youth facilities project bonds and youth facilities project notes,
community mental health services and developmental disabilities services
project bonds and community mental health services and developmental
disabilities services project notes, community senior citizens services
project notes or community senior citizens services project bonds and
mental hygiene improvement bonds and mental hygiene improvement notes
and bonds and notes for the housing program for any of its corporate
purposes in an aggregate principal amount exceeding [thirty-one] THIR-
TY-SIX billion two hundred eighty million dollars, excluding bonds and
notes issued to refund outstanding bonds and notes.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16372-01-4
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