Provides for the financing and construction of capital facilities for a certain non-profit corporation

5 Co-sponsors

• Eric Adams
• Ruth Hassell-Thompson
• Velmanette Montgomery
• George Onorato
• Diane J. Savino

Title of bill

An act to amend the public authorities law, in relation to providing for the financing and construction of capital facilities for a certain not-for-profit corporation

Purpose or general idea of bill

This bill provides the authorization for the Dormitory Authority of the State of New York for the purpose of financing the construction of a cancer treatment facility within the City of New York.

Summary of specific provisions

Section 1 amends paragraph (b) of subdivision 2 of section 1677 of the Public Authorities law and to add Maskil El-Dal, Inc., to authorize the Dormitory Authority to provide assistance to the organization.

Section 2 amends Subdivision 1 of section 1680 of to add Maskil El-Dal, Inc., to the list or organizations the Dormitory Authority to provide assistance to.

Section 3 provides for an immediate effective date.

Justification

This legislation is necessary to authorize the Dormitory Authority to provide financial assistance for the construction of the cancer treatment facility. The assistance would be in the form of a bond issuance. The debt and expenses of the project would be private debt, with no obligation or cost to the state. The project would be subject to the Dormitory Authority board review and approval and the review and approval by the New York State Department of Health through the Certificate of Need process.

Legislative history

This is new legislation.

Fiscal implications for state and local governments

None to state. It may be argued that the construction jobs and additional health care jobs created by this facility would increase the revenue to the State and the City of New York.

Effective date

Immediate.