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

                                         7408

                                   I N  S E N A T E

                                      May 9, 2012
                                      ___________

       Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Housing, Construction  and
         Community Development

       AN  ACT to amend chapter 375 of the laws of 1999 amending the real prop-
         erty actions and proceedings law relating to new owners  of  buildings
         for  which  administrators have been appointed pursuant to article 7-A
         of such law, in relation to the effectiveness thereof

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

    1    Section  1.  Section 2 of chapter 375 of the laws of 1999 amending the
    2  real property actions and proceedings law  relating  to  new  owners  of
    3  buildings for which administrators have been appointed pursuant to arti-
    4  cle  7-A  of such law, as amended by chapter 265 of the laws of 2009, is
    5  amended to read as follows:
    6    S 2. This act shall take effect immediately and shall remain in effect
    7  until June 30, [2012] 2015, when upon such date the provisions  of  this
    8  act shall expire and be deemed repealed.
    9    S 2. This act shall take effect immediately.






        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15796-01-2