Senate Bill S274

2015-2016 Legislative Session

Enacts the New York state senior housing opportunities partnership act and establishes a state senior housing opportunities partnership authority

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Archive: Last Bill Status - In Senate Committee Aging Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S274 (ACTIVE) - Details

Current Committee:
Senate Aging
Law Section:
Elder Law
Laws Affected:
Add §209-a, Eld L
Versions Introduced in Other Legislative Sessions:
2009-2010: S2216
2011-2012: S319
2013-2014: S151
2017-2018: S4935, S7391
2019-2020: S5382
2021-2022: S5551
2023-2024: S2429

2015-S274 (ACTIVE) - Summary

Enacts the New York state senior housing opportunities partnership act and establishes the New York state senior housing opportunities partnership authority; provides that such authority will finance or collaborate in the financing of senior housing opportunities facility projects.

2015-S274 (ACTIVE) - Sponsor Memo

2015-S274 (ACTIVE) - Bill Text download pdf

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

                                   274

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sen.  DIAZ  --  read twice and ordered printed, and when
  printed to be committed to the Committee on Aging

AN ACT to amend the elder law, in relation to establishing the New  York
  state senior housing opportunities partnership act

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

  Section 1. The elder law is amended by adding a new section  209-a  to
read as follows:
  S  209-A.  THE NEW YORK STATE SENIOR HOUSING OPPORTUNITIES PARTNERSHIP
ACT.  1. SHORT TITLE. THIS SECTION SHALL BE KNOWN AND MAY  BE  CITED  AS
THE "NEW YORK STATE SENIOR HOUSING OPPORTUNITIES PARTNERSHIP ACT".
  2. DEFINITIONS. AS USED IN THIS SECTION:
  A.  "AUTHORITY"  MEANS THE NEW YORK STATE SENIOR HOUSING OPPORTUNITIES
PARTNERSHIP AUTHORITY CREATED BY THIS SECTION.
  B. "BANK" MEANS ANY BANKING ORGANIZATION DEFINED BY SECTION TWO OF THE
BANKING LAW THAT HAS A MARKET CAPITALIZATION (DETERMINED BY  MULTIPLYING
THE   NUMBER OF SHARES TIMES THE CURRENT MARKET PRICE), OF LESS THAN TWO
BILLION DOLLARS.
  C. "SENIOR" MEANS A PERSON WHO IS SIXTY YEARS OF AGE OR OLDER  WHO  IS
THE  HEAD  OF  A  HOUSEHOLD. ANY OTHER PROVISION OF ANY OTHER LAW TO THE
CONTRARY NOTWITHSTANDING, INCLUDING ANY PROVISION OF ARTICLE FIFTEEN  OF
THE  EXECUTIVE LAW, IT SHALL NOT BE UNLAWFUL TO RESTRICT RENTAL, SALE OR
LEASE OF A SENIOR HOUSING PROJECT FINANCED IN WHOLE OR IN  PART  BY  THE
AUTHORITY  EXCLUSIVELY  TO  PERSONS  SIXTY YEARS OF AGE OR OLDER AND THE
SPOUSE OF ANY SUCH PERSON.
  D. "SENIOR HOUSING OPPORTUNITIES DEVELOPMENT  CORPORATION"  MEANS  ANY
PERSON,  INDIVIDUAL,  FIRM, PARTNERSHIP, ASSOCIATION, OR OTHER ENTITY OR
COLLABORATION OF ENTITIES ORGANIZED OR EXISTING UNDER THE  LAWS  OF  THE
STATE  OR  ANY  OTHER  STATE,  DOMESTIC OR FOREIGN, EXCLUSIVE OF A STATE
AGENCY, UNDERTAKING THE CONSTRUCTION OF A SENIOR HOUSING FACILITY.

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

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