New York S 3703: Relates to the creation of a land bank in N.Y. city

Bill Text

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S03703 Summary:

BILL NOS03703 

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SAME ASNo Same As

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SPONSORCOMRIE

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COSPNSR

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MLTSPNSR

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Amd §1603, N-PC L

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Creates a land bank in a city with eight million or more residents by adoption of a local law by the city council; limits board membership to eleven members.

Go to top S03703 Actions:

BILL NOS03703 

&nbsp

01/29/2025REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

01/07/2026REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Go to topS03703 Committee&nbspVotes:

Go to topS03703 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS03703 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3703

 2025-2026 Regular Sessions

 IN SENATE

 January 29, 2025
 ___________

 Introduced by Sen. COMRIE -- 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
 creation of a land bank in a city with eight million or more residents
 by adoption of a local law by the city council

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The opening paragraph and subparagraph 2 of paragraph (a)
 2 of section 1603 of the not-for-profit corporation law, the opening para-
 3 graph as added by chapter 257 of the laws of 2011 and subparagraph 2 as
 4 amended by chapter 372 of the laws of 2013, are amended to read as
 5 follows:
 6 Any foreclosing governmental unit may create a land bank by the
 7 adoption of a local law, ordinance, or resolution as appropriate to such
 8 foreclosing governmental unit and in addition, any city with eight
 9 million or more residents may create a land bank by adoption of a local
 10 law by the city council which action specifies the following:
 11 (2) the number of members of the board of directors, which shall
 12 consist of an odd number of members, and shall be not less than five
 13 members nor more than [fifteen] eleven members;
 14 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05341-01-5

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