Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 18, 2012 |
signed chap.162 |
Jul 06, 2012 |
delivered to governor |
Jun 21, 2012 |
returned to assembly passed senate 3rd reading cal.1514 substituted for s6898 |
Jun 21, 2012 |
substituted by a10048 ordered to third reading cal.1514 |
Jun 20, 2012 |
committee discharged and committed to rules |
Apr 09, 2012 |
referred to corporations, authorities and commissions |
Senate Bill S6898
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A10048 - Signed by Governor
- 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
Actions
Votes
2011-S6898 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10048
- Law Section:
- Public Authorities
- Laws Affected:
- Amd ยง5, Chap 246 of 2010
2011-S6898 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6898 TITLE OF BILL: An act to amend chapter 246 of the laws of 2010 amending the public authorities law relating to the powers of the state of New York mortgage agency, in relation to extending the provisions thereof PURPOSE OF THE BILL: This bill would for two years the State of New York Mortgage Agency Mortgage Insurance Fund's ("MIF") authority to insure the full principal amount of certain preservation loans (originated between January 1, 2004 and December 31, 2008) thereby enabling the MIF to provide needed support for the refinancing of certain multi-family affordable housing accommodations which became over leveraged during the current housing crisis. SUMMARY OF PROVISIONS: Section 1 of the bill would amend Chapter 246 of the Laws of 2010 to extend until June 30, 2014, MIF's authority to provide one hundred percent mortgage insurance on certain loans that (originated between January 1, 2004 and December 31, 2008) extended for the sole purpose of refinancing existing indebtedness which relate to over leveraged multi- family residential buildings.
2011-S6898 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6898 I N S E N A T E April 9, 2012 ___________ Introduced by Sen. YOUNG -- (at request of the Division of Housing & Community Renewal) -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend chapter 246 of the laws of 2010 amending the public authorities law relating to the powers of the state of New York mort- gage agency, in relation to extending the provisions thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5 of chapter 246 of the laws of 2010 amending the public authorities law relating to the powers of the state of New York mortgage agency, is amended to read as follows: S 5. This act shall take effect immediately and shall expire and BE deemed repealed on and after June 30, [2012] 2014; provided, however, that the amendments to paragraph (c) of subdivision 8 of section 2428 of the public authorities law made by section two of this act shall not affect the expiration of such subdivision and shall be deemed to expire therewith. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14298-01-2
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