S 735: Increases the New York state housing finance agency bonding authority to $36,280,000,000.

  
  STATE OF NEW YORK ________________________________________________________________________ 735 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. KAVANAGH -- (at request of the New York State Homes and Community Renewal) -- 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: 1 Section 1. Paragraph (c) of subdivision 1 of section 47 of the private 2 housing finance law, as amended by chapter 479 of the laws of 2022, is 3 amended to read as follows: 4 (c) The agency shall not issue bonds and notes other than state 5 university construction bonds and state university construction notes, 6 hospital and nursing home project bonds and hospital and nursing home 7 project notes, health facilities bonds and health facilities notes, 8 youth facilities project bonds and youth facilities project notes, 9 community mental health services and developmental disabilities services 10 project bonds and community mental health services and developmental 11 disabilities services project notes, community senior citizens services 12 project notes or community senior citizens services project bonds and 13 mental hygiene improvement bonds and mental hygiene improvement notes 14 and bonds and notes for the housing program for any of its corporate 15 purposes in an aggregate principal amount exceeding [thirty-one] thir- 16 ty-six billion two hundred eighty million dollars, excluding bonds and 17 notes issued to refund outstanding bonds and notes. 18 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00601-01-5