Wednesday, May 13, 2009

1 NEW YORK STATE SENATE 2 3 4 THE STENOGRAPHIC RECORD 5 6 7 8 9 ALBANY, NEW YORK 10 May 13, 2009 11 11:20 a.m. 12 13 14 REGULAR SESSION 15 16 17 18 SENATOR NEIL D. BRESLIN, Acting President 19 ANGELO J. APONTE, Secretary 20 21 22 23 24

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(518) 371-8910 1 P R O C E E D I N G S 2 ACTING PRESIDENT BRESLIN: The 3 Senate will come to order. 4 I ask all to rise and recite with 5 me the Pledge of Allegiance. 6 (Whereupon, the assemblage recited 7 the Pledge of Allegiance to the Flag.) 8 ACTING PRESIDENT BRESLIN: In the 9 absence of clergy, may we bow our heads for a 10 moment of silence. 11 (Whereupon, the assemblage 12 respected a moment of silence.) 13 ACTING PRESIDENT BRESLIN: Thank 14 you. 15 The reading of the Journal. 16 The Secretary will read. 17 THE SECRETARY: In Senate, 18 Tuesday, May 12, the Senate met pursuant to 19 adjournment. The Journal of Monday, May 11, 20 was read and approved. On motion, Senate 21 adjourned. 22 ACTING PRESIDENT BRESLIN: 23 Without objection, the Journal stands approved 24 as read.

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(518) 371-8910 1 Presentation of petitions. 2 Messages from the Assembly. 3 Messages from the Governor. 4 Reports of standing committees. 5 Reports of select committees. 6 Communications and reports from 7 state officers. 8 Motions and resolutions. 9 Senator Klein. 10 SENATOR KLEIN: Mr. President, on 11 behalf of Senator Craig Johnson, I move that 12 the following bill be discharged from its 13 respective committee and be recommitted with 14 instructions to strike the enacting clause: 15 Senate Bill Number 3462. 16 ACTING PRESIDENT BRESLIN: So 17 ordered. 18 SENATOR KLEIN: Mr. President, 19 are there any substitutions at the desk? 20 ACTING PRESIDENT BRESLIN: Yes, 21 there are, Senator Klein. 22 The Secretary will read. 23 THE SECRETARY: On page 13, 24 Senator Oppenheimer moves to discharge, from

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(518) 371-8910 1 the Committee on Investigations and Government 2 Operations, Assembly Bill Number 3123 and 3 substitute it for the identical Senate Bill 4 Number 1086, Third Reading Calendar 53. 5 On page 17, Senator Libous moves to 6 discharge, from the Committee on 7 Investigations and Government Operations, 8 Assembly Bill Number 4397 and substitute it 9 for the identical Senate Bill Number 2805, 10 Third Reading Calendar 194. 11 And on page 23, Senator C. Kruger 12 moves to discharge, from the Committee on 13 Commerce, Economic Development and Small 14 Business, Assembly Bill Number 7458 and 15 substitute it for the identical Senate Bill 16 Number 818, Third Reading Calendar 258. 17 ACTING PRESIDENT BRESLIN: 18 Substitution ordered. 19 Senator Klein. 20 SENATOR KLEIN: Mr. President, I 21 believe there's a resolution at the desk. I 22 ask that the title be read and move for its 23 immediate adoption. 24 ACTING PRESIDENT BRESLIN: The

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(518) 371-8910 1 Secretary will read. 2 THE SECRETARY: By Senator 3 Thompson, Legislative Resolution Number 1983, 4 commemorating the 100th anniversary of the 5 Buffalo Audubon Society. 6 ACTING PRESIDENT BRESLIN: The 7 question is on the resolution. All those in 8 favor please signify by saying aye. 9 (Response of "Aye.") 10 ACTING PRESIDENT BRESLIN: Oppo 11 sed, nay. 12 (No response.) 13 ACTING PRESIDENT BRESLIN: The 14 resolution is adopted. 15 Senator Klein. 16 SENATOR KLEIN: Mr. President, 17 may we at this time move to a reading of 18 Senate Calendar Number 46. 19 ACTING PRESIDENT BRESLIN: The 20 Secretary will read. 21 THE SECRETARY: Calendar Number 22 4, by Senator Sampson, Senate Print 134B, an 23 act to amend the Real Property Law, in 24 relation to requiring.

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: Read 2 the last section. 3 THE SECRETARY: Section 2. This 4 act shall take effect immediately. 5 ACTING PRESIDENT BRESLIN: Call 6 the roll. 7 (The Secretary called the roll.) 8 SENATOR GRIFFO: Lay it aside. 9 ACTING PRESIDENT BRESLIN: The 10 bill is laid aside. 11 The Secretary will continue to 12 read. 13 THE SECRETARY: Calendar Number 14 146, by Senator Oppenheimer, Senate Print 15 1181, an act to amend the Vehicle and Traffic 16 Law, in relation to providing. 17 ACTING PRESIDENT BRESLIN: There 18 is a home-rule message at the desk. 19 Read the last section. 20 THE SECRETARY: Section 3. This 21 act shall take effect immediately. 22 ACTING PRESIDENT BRESLIN: Call 23 the roll. 24 (The Secretary called the roll.)

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: 2 Announce the results. 3 THE SECRETARY: Ayes, 57. 4 ACTING PRESIDENT BRESLIN: The 5 bill is passed. 6 THE SECRETARY: Calendar Number 7 158, by Senator C. Kruger, Senate Print 552, 8 an act to amend the Election Law, in relation 9 to providing Russian-language voting 10 materials. 11 SENATOR KLEIN: Lay the bill 12 aside for the day, please. 13 ACTING PRESIDENT BRESLIN: The 14 bill is laid aside for the day. 15 The Secretary will continue to 16 read. 17 THE SECRETARY: Calendar Number 18 233, by Senator Addabbo, Senate Print 4242, an 19 act to amend the Election Law, in relation to 20 the deadline. 21 SENATOR KLEIN: Lay that bill 22 aside for the day as well. 23 ACTING PRESIDENT BRESLIN: The 24 bill is laid aside for the day.

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(518) 371-8910 1 The Secretary will continue to 2 read. 3 THE SECRETARY: Calendar Number 4 236, by Member of the Assembly Wright, 5 Assembly Print Number 1436, an act to amend 6 the Election Law, in relation to providing 7 that designating petitions. 8 ACTING PRESIDENT BRESLIN: Read 9 the last section. 10 THE SECRETARY: Section 2. This 11 act shall take effect immediately. 12 ACTING PRESIDENT BRESLIN: Call 13 the roll. 14 (The Secretary called the roll.) 15 ACTING PRESIDENT BRESLIN: 16 Senator DeFrancisco, why do you rise? 17 SENATOR DeFRANCISCO: Yes, this 18 is an excellent bill. 19 And since I was accused yesterday 20 of voting against all Election Law bills, and 21 I somehow was against the concept of people 22 voting and being informed of various things, 23 this makes sense. 24 It's absolutely ridiculous to have

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(518) 371-8910 1 petitions circulated with two Senate districts 2 on the same petition, because people are 3 verifying that they're in the district, I 4 think, and it's kind of silly to be signing 5 for two different Senators. 6 So it makes great sense, and I want 7 to commend the sponsor for this bill. 8 ACTING PRESIDENT BRESLIN: Thank 9 you, Senator DeFrancisco. 10 Announce the results. 11 THE SECRETARY: Ayes, 57. Nays, 12 0. 13 ACTING PRESIDENT BRESLIN: The 14 bill is passed. 15 THE SECRETARY: Calendar Number 16 241, by Senator Montgomery, Senate Print 3378, 17 an act to amend the Election Law, in relation 18 to increasing fees. 19 ACTING PRESIDENT BRESLIN: Read 20 the last section. 21 THE SECRETARY: Section 2. This 22 act shall take effect immediately. 23 ACTING PRESIDENT BRESLIN: Call 24 the roll.

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(518) 371-8910 1 (The Secretary called the roll.) 2 ACTING PRESIDENT BRESLIN: 3 Announce the results. 4 THE SECRETARY: Ayes, 57. Nays, 5 1. Senator Ranzenhofer recorded in the 6 negative. 7 ACTING PRESIDENT BRESLIN: The 8 bill is passed. 9 Senator Saland. 10 SENATOR SALAND: I wish to be 11 recorded in the negative on Senate 3378. 12 ACTING PRESIDENT BRESLIN: 13 Announce the results on Calendar 241. 14 THE SECRETARY: Those recorded in 15 the negative are Senators Ranzenhofer and 16 Saland. 17 Ayes, 57. Nays, 2. 18 ACTING PRESIDENT BRESLIN: The 19 bill is passed. 20 The Secretary will continue to 21 read. 22 THE SECRETARY: Calendar Number 23 282, by Senator Monserrate -- 24 SENATOR VOLKER: Lay it aside,

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(518) 371-8910 1 please. 2 ACTING PRESIDENT BRESLIN: The 3 bill is laid aside. 4 Senator Klein, that completes the 5 reading of the noncontroversial calendar. 6 SENATOR KLEIN: Mr. President, 7 can we now move to a reading of the 8 controversial calendar. 9 ACTING PRESIDENT BRESLIN: If the 10 Secretary will please ring the bells, and all 11 members will please come to the chamber for 12 the controversial reading of the active bills 13 on the calendar. 14 The Secretary will read. 15 THE SECRETARY: Calendar Number 16 4, by Senator Sampson, Senate Print 134B, an 17 act to amend the Real Property Law. 18 ACTING PRESIDENT BRESLIN: Read 19 the last section. 20 Senator DeFrancisco. 21 SENATOR DeFRANCISCO: Yes, 22 someone needed an explanation; I'll hold my 23 questions. 24 SENATOR BONACIC: Explanation,

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(518) 371-8910 1 please. 2 ACTING PRESIDENT BRESLIN: 3 Senator Sampson, an explanation has been 4 requested by Senator Bonacic. 5 SENATOR SAMPSON: Through you, 6 Mr. President. This Calendar Number 4 is a -- 7 basically, it's a loan disclosure bill which 8 requires that a loan counseling disclosure 9 rider be attached to contracts of sale either 10 by a broker and/or attorney. 11 The last time this bill was on, 12 there were certain issues that were raised 13 with respect to this bill, and I went back and 14 made certain changes as to revamp the 15 definitions for residents, mortgagor division, 16 loan counseling list, and residential real 17 properties. 18 This bill would just apply to 19 brokers and/or attorneys. And the reason 20 brokers are included in this bill is because 21 when looking upstate, you have brokers who 22 generate -- some of my colleague across the 23 aisle raised it to me with respect to 24 upstate -- you have brokers who generate these

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(518) 371-8910 1 sorts of contracts. 2 In addition, at that point in time 3 we talked about I had a hundred-mile radius in 4 which Senator Bonacic talked about if there 5 were -- we had to look at brokers maybe in 6 New Jersey or Pennsylvania. 7 But that's why instead of using 8 HUD, which is Housing and Urban Development, 9 what I used is what we call the DHCR, Division 10 of Housing and Community Renewal, which would 11 include a list that is available of loan 12 counselors which is available in all counties 13 throughout the State of New York. 14 And in this addition also, Senator 15 Bonacic talked about whether this would cause 16 or create a cause of action. This legislation 17 does not create a private cause of action 18 against an attorney and/or broker. 19 But what it does require is that 20 the Department of Banking or the Attorney 21 General can investigate those individuals who 22 choose not to provide these disclosures and 23 just provide a list to those who are 24 interested who are not providing this

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(518) 371-8910 1 information. There is no punitive, there is 2 no penalty. 3 And furthermore, just going with 4 some statistics, there was one study of 40,000 5 loans in Freddie Mac's affordable lending 6 program that provided direct evidence that 7 prepurchasing education and counseling reduced 8 90-day delinquency rates by up to 34 percent. 9 Furthermore, borrowers who participated in 10 counseling had an overall default rate 11 50 percent lower than noncounseled borrowers. 12 And this is basically a legislation 13 to inform the prospective buyers that before 14 they go in and meet with these financial 15 mortgage brokers or these banks, at least they 16 have a litany of questions that they can ask 17 them and they really can't be duped. 18 Sometimes, you know, you go to 19 these financial institutions, and they can 20 sell -- you know, it's like the fox in the 21 henhouse. They're going to do whatever they 22 can to sell you this mortgage but at the same 23 time not provide you the necessary 24 information.

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(518) 371-8910 1 So what we're saying is I want to 2 educate the buyer before they go to these 3 financial institutions so they are educated. 4 And furthermore, there was an issue 5 between, you know, whether there was an 6 individual who bought commercial property who 7 was sophisticated in buying that. But what I 8 did, in defining the definition -- and 9 residential means any residential property 10 that has a commercial space or use. Like if 11 you have a commercial store or a supermarket 12 on top of a six-unit home, at that point in 13 time it's a mixed-use property, so therefore 14 it would be covered in the definition of this 15 bill. 16 So if there's any questions, I 17 would -- 18 ACTING PRESIDENT BRESLIN: 19 Senator DeFrancisco. 20 SENATOR DeFRANCISCO: Yes, I just 21 want to speak on the bill briefly. 22 ACTING PRESIDENT BRESLIN: 23 Senator DeFrancisco, on the bill. 24 SENATOR DeFRANCISCO: And I want

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(518) 371-8910 1 to thank Senator Sampson for taking some of 2 the suggestions from this side of the aisle to 3 modify the bill. 4 I just have a problem just with the 5 bill in general, and this is what the problem 6 is. There was a time when you went to a 7 closing and when you went to the closing you 8 had a deed to be signed, a closing statement 9 to be signed. And people somehow got around 10 the whole issue of whether it's a good idea to 11 borrow money, whether it's a good idea that 12 this is a good house, whether or not there's 13 an inspection was done properly. I don't know 14 how people possibly did that in the past. 15 Well, over the last probably 20 to 16 30 years, there's a new form at every closing. 17 There's a new form every time you sign a 18 contract: a disclosure about this, a 19 disclosure about that. 20 It was only last year, the last 21 couple of years, a few years ago when the 22 federal government was encouraging people to 23 buy homes to the point where loans were given 24 by banking institutions and organizations,

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(518) 371-8910 1 Fannie Mae and the like, where they had no 2 business whatsoever getting those loans. 3 So now we've turned to the total 4 opposite. Now we've got a crisis as far as 5 housing is concerned, all these mortgages that 6 defaulted. So now we're going the total 7 opposite. Now everyone can't just go in and 8 buy a house, whether they can afford it or 9 not; now we're going to give loan counseling 10 and information about loan counseling before 11 they sign a contract. 12 I just think it's to the point 13 where people have to make some judgments on 14 their own. And I think if you don't 15 understand a mortgage or the loan terms, you 16 really should know enough to get advice if you 17 need advice, rather than have another form 18 handed to you when you buy the house. 19 Which brings me to the other couple 20 of points. And that is an individual, a 21 lawyer or a broker has to have an obligation 22 here to hand out another form, just one more 23 thing to make the closing more costly and to 24 make it more difficult and onerous for anybody

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(518) 371-8910 1 handling these types of deals. 2 In addition -- and I said it was a 3 good idea, some of these changes -- Senator 4 Sampson made sure there was no cause of action 5 here that could possibly be done or that the 6 transaction could not be set aside if this 7 form wasn't given out. That's terrific, and I 8 think it's a great idea. 9 And the alternative is basically if 10 you do this, don't provide these forms out, 11 you then could be investigated by some state 12 agency. And if it's a repeated violation, 13 then you could be, I guess, censured. I guess 14 the public could learn that you haven't handed 15 these forms out. 16 I don't know what protection the 17 public gets from that remedy, primarily 18 because I don't think any lawyer would really 19 lose any business or any broker would lose any 20 business because the public is being told by 21 some state agency that they did not hand out a 22 form and they didn't do it repeatedly. 23 So I guess I just don't 24 understand -- I don't believe in the need for

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(518) 371-8910 1 this. Buyers should have some basic 2 intelligence and understand, should be able to 3 ask questions of whomever they need. And, you 4 know, that's basically where I'm standing. 5 And the other point was that these 6 loan counselors, we're basically I would think 7 starting to generate a new business. Maybe -- 8 I don't know if they're going to be licensed, 9 required to be licensed or not. And a new 10 business when, in my judgment, it's really not 11 necessary to make make-work businesses, it's 12 necessary to support the ones that we 13 currently have. And you don't support them by 14 making it more difficult to do business in our 15 state. 16 So I'm going to vote no on this 17 bill. Thank you. 18 ACTING PRESIDENT BRESLIN: Thank 19 you, Senator DeFrancisco. 20 Senator Bonacic. 21 Senator Sampson, why do you rise? 22 SENATOR SAMPSON: Just to respond 23 to Senator DeFrancisco's comments. Through 24 you, Mr. President. May I respond?

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(518) 371-8910 1 SENATOR BONACIC: Mr. President, 2 we concede to Senator Sampson. 3 ACTING PRESIDENT BRESLIN: Fine. 4 You may speak, Senator Sampson. 5 SENATOR SAMPSON: I hear your 6 point, Senator DeFrancisco. And the gist of 7 everything is, you know, spending time on 8 the -- instead of spending time on the back 9 end, spending time on the front end. 10 And it just goes to educating 11 people more so they're not put into positions 12 where we're in this financial crisis that we 13 are. If people asked a few more questions, 14 they wouldn't have been able to get into -- 15 obtain certain mortgages or be in certain 16 predicaments. 17 And furthermore, when you talk 18 about the onus of the attorneys and everything 19 else, this was a question that the State Bar 20 Association's real estate division had the 21 same issues that you had. And I had a 22 conversation with them -- through you, 23 Mr. President -- at which point in time I 24 explained to them the gist of this bill and

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(518) 371-8910 1 what we're trying to do. And they were 2 opposed. 3 But this morning I got a letter in 4 support from the State Bar Association real 5 estate division. Because what I'm trying to 6 do is not giving another responsibility and 7 onus on attorneys, what we're trying to do is 8 create a situation where, after the contract, 9 we're ready to go close and all of a sudden 10 the buyer says, "I don't really know what I'm 11 getting into, I don't know what happened." 12 And then the next thing you know, once they 13 close the deal, they call the district 14 attorney's office, saying, "Well, I didn't 15 know what was going on, I was confused. So 16 you know what, you need to investigate to see 17 what's going on." 18 What I'm just trying to do is, 19 instead of doing everything on the back end, 20 to try to do it on the front end so they can 21 educate themselves and they can ask important 22 questions that they need to when they fill out 23 these documents and finally go to closing. 24 Thank you, Mr. President.

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: Thank 2 you, Senator Sampson. 3 Senator DeFrancisco. 4 SENATOR DeFRANCISCO: Senator, I 5 understand what you're trying to do, and I'm 6 not in any way saying that it's not being done 7 in good faith. 8 I guess the major point is for 9 years people didn't need loan counseling. 10 Then all of a sudden there's a crisis. The 11 crisis was not caused by people not 12 understanding the mortgages, the crisis was 13 caused by mortgage companies and loan 14 origination people that were pushing mortgages 15 and government organizations pushing, pushing 16 mortgages. 17 And it seems to me people were 18 incentivized to go forward and try to get a 19 house when they might not otherwise have even 20 thought about it. And that's what caused it. 21 And the remedy should be in other 22 areas rather than requiring every single 23 transaction from here on forward in the State 24 of New York to require another form to be

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(518) 371-8910 1 handed out so that people understand. They 2 should know what they're doing before they go 3 into it. 4 And if, after this crisis, people 5 buying houses, if they're not aware that 6 they've got to look into what they're getting 7 into before they get into it, after all the 8 publicity and all the heartache and all the 9 foreclosures, another form isn't going to help 10 them. 11 SENATOR SAMPSON: And through 12 you, Mr. President -- 13 ACTING PRESIDENT BRESLIN: 14 Senator Sampson. 15 SENATOR SAMPSON: I would agree 16 with you, Senator DeFrancisco, that is why 17 there's so much work for attorneys. Because 18 we have individuals who just go into things 19 blindly and need to be educated. 20 And by educating them and asking 21 them a few more questions when they go into 22 these situations, I don't think that is too 23 much of a burden. Because we have seen the 24 impact that has happened with respect to this

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(518) 371-8910 1 financial crisis and the destruction that it 2 is causing, not only in New York State but 3 throughout this country. 4 So what I'm saying is a little bit 5 more information on the front end instead of 6 back end will save us a lot more grief and 7 also a lot more money on the back end. 8 Thank you, Mr. President. 9 ACTING PRESIDENT BRESLIN: Thank 10 you, Senator Sampson. 11 Senator Bonacic. 12 SENATOR BONACIC: Thank you, 13 Mr. President. 14 Will Senator Sampson yield to a 15 couple of questions? 16 ACTING PRESIDENT BRESLIN: 17 Senator Sampson, will you yield to Senator 18 Bonacic for a question? 19 SENATOR SAMPSON: Through you, 20 Mr. President, yes, I will. 21 SENATOR BONACIC: First of all, 22 Senator Sampson, I wanted to thank you for 23 listening in the Judiciary, because several 24 members brought up many points. And you went

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(518) 371-8910 1 back and worked on this bill and made it a 2 better bill. We thank you for doing that. 3 Just a couple of quick questions. 4 Is there an Assembly sponsor? 5 SENATOR SAMPSON: At this point 6 in time, yes, there is an Assembly sponsor, 7 Assemblyman Towns in the Assembly. 8 SENATOR BONACIC: Okay. Senator 9 Sampson, from my experience with real estate, 10 most of the complicated issues have to do with 11 financing. 12 SENATOR SAMPSON: Correct. 13 SENATOR BONACIC: And emanates 14 usually from a mortgage and a mortgage 15 commitment. Would you generally agree with 16 that? 17 SENATOR SAMPSON: Through you, 18 Mr. President. Yes, I do, Senator Bonacic. 19 SENATOR BONACIC: Okay. Then I 20 guess my last question is -- 21 ACTING PRESIDENT BRESLIN: 22 Senator Bonacic, would you want Senator 23 Sampson to continue to yield? 24 SENATOR BONACIC: Yeah, would you

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(518) 371-8910 1 continue for one more question? 2 SENATOR SAMPSON: Of course, yes. 3 Through you, Mr. President. 4 ACTING PRESIDENT BRESLIN: You 5 may proceed, Senator Bonacic. 6 SENATOR BONACIC: I'm just 7 wondering why you omitted lending institutions 8 from having the duty and the requirement of 9 providing this disclosure notice. 10 SENATOR SAMPSON: Through you, 11 Mr. President. As I talked about, that is the 12 fox guarding the henhouse. You go to these 13 financial institutions and they will tell you 14 that, you know, "I'm going to give you a fixed 15 mortgage for three years with an adjustable 16 rate, and your adjustable rate is 4 percent." 17 But if you're educated and you 18 understand that: "I don't want a fixed with 19 an adjustable, I want a fixed-rate mortgage 20 over a period of time." 21 And these are the questions -- 22 through you, Mr. President -- that that buyer 23 can ask these, not only of the loan 24 counselors, but also when they go before these

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(518) 371-8910 1 financial institutions, to ask them these 2 questions. And at that point in time at least 3 they have a frame of reference where they can 4 refer to so they can educate themselves. 5 And I'd rather have an educated 6 buyer asking these questions, because at that 7 point in time you know whether or not that a 8 financial institution or a mortgage broker may 9 be trying to engage in some sort of fraud or 10 whatever it is. Just to make them aware. 11 Through you, Mr. President. 12 SENATOR BONACIC: Thank you, 13 Senator. 14 On the bill. 15 ACTING PRESIDENT BRESLIN: 16 Senator Bonacic, on the bill. 17 SENATOR BONACIC: I think there 18 are many instances in real estate transactions 19 where there's not a seller or a buyer, there 20 is a lending institution and a borrower. And 21 that borrower needs as much education as a 22 first-time homebuyer. 23 So I would suggest to the 24 sponsor -- and I'm going to support this bill.

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(518) 371-8910 1 But I think it could be a better bill if, upon 2 application of the buyer and/or borrower to 3 that lending institution, that that lending 4 institution have an obligation, before the 5 commitment is given, to provide that borrower 6 and/or buyer with the options, what they mean, 7 and make that borrower or buyer more educated. 8 Because you can never give enough 9 education to people, and to try to do that is 10 a good thing. So I would hope that if this 11 becomes law and you work with your counterpart 12 in the Assembly, you would give some 13 consideration to that. 14 And the banks basically are 15 equipped, they have the process, the staff to 16 devise this disclosure. They're in a better 17 position to give it, with the mortgage 18 application request. Not after the fact, not 19 at the time of commitment, but before. And I 20 think we could accomplish more in educating 21 those borrowers and/or buyers. 22 I thank you again, Senator Sampson. 23 I vote in the affirmative. 24 ACTING PRESIDENT BRESLIN: Thank

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(518) 371-8910 1 you, Senator Bonacic. 2 Senator Ranzenhofer. 3 SENATOR RANZENHOFER: Thank you, 4 Mr. President. Would Senator Sampson yield 5 for a few questions? 6 ACTING PRESIDENT BRESLIN: 7 Senator Sampson, will you yield for some 8 questions? 9 SENATOR SAMPSON: Yes, I will. 10 ACTING PRESIDENT BRESLIN: You 11 may proceed. 12 SENATOR RANZENHOFER: We've had 13 this discussion before about where the proper 14 place for the disclosure should be. 15 And I just wanted to ask you if you 16 support Senator Monserrate's bill, which is 17 very similar to yours -- 18 ACTING PRESIDENT BRESLIN: Excuse 19 me, Senator Ranzenhofer. 20 May we have quiet? 21 SENATOR RANZENHOFER: Do you 22 support Senator Monserrate's bill, which 23 requires the exact same disclosure that you've 24 provided, but to be provided by the mortgage

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(518) 371-8910 1 institution? 2 SENATOR SAMPSON: By the mortgage 3 institution. Are you saying do I support 4 Senator Monserrate's bill? 5 SENATOR RANZENHOFER: Yes. 6 SENATOR SAMPSON: Yes, I support 7 Senator Monserrate's bill. 8 SENATOR RANZENHOFER: Okay. Are 9 you aware that Senator -- 10 ACTING PRESIDENT BRESLIN: Do you 11 want Senator Sampson to continue to yield? 12 SENATOR RANZENHOFER: Yes. 13 Sorry, yes, if you would. 14 SENATOR SAMPSON: Of course I 15 will yield. 16 ACTING PRESIDENT BRESLIN: You 17 may proceed. 18 SENATOR RANZENHOFER: If your 19 bill passes and Senator Monserrate's bill 20 passes, are you then suggesting that there 21 should be double disclosure, there should be 22 disclosure of this information by the bank and 23 also disclosure by somebody at the real estate 24 transaction?

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(518) 371-8910 1 SENATOR SAMPSON: Through you, 2 Mr. President. Senator Ranzenhofer, there is 3 never enough education with respect to dealing 4 with purchases such as this or mortgages. 5 The information that is given, that 6 is provided to these borrowers and/or buyers 7 is very pertinent when they're making these 8 decisions. And if you look at the situation 9 we are in now globally with respect to the 10 financial institutions, the real estate 11 market, this had a lot to do with, as Senator 12 DeFrancisco said, those individuals just 13 taking advantage but at the same time taking 14 advantage of those individuals or those 15 persons who were not knowledgeable enough or 16 didn't understand with respect to engaging in 17 such a practice. 18 Through you, Mr. President. 19 ACTING PRESIDENT BRESLIN: 20 Senator Ranzenhofer. 21 SENATOR RANZENHOFER: Yes, if 22 Senator Sampson would continue to yield. 23 ACTING PRESIDENT BRESLIN: Do you 24 continue to yield, Senator Sampson?

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(518) 371-8910 1 SENATOR SAMPSON: Of course. 2 Definitely. Definitely. 3 SENATOR RANZENHOFER: Are you 4 suggesting that this loan disclosure 5 information of loan counselors within a 6 hundred-mile radius needs to be provided when 7 the person applies for their mortgage and also 8 needs to be provided when somebody signs a 9 real estate contract? 10 SENATOR SAMPSON: Well, through 11 you, Mr. President, in reading my bill, those 12 were changes that were made to my bill based 13 upon the comments that were made on the other 14 side with respect to the hundred-mile radius. 15 If you looked at the bill, you 16 would see that it is confined to the 17 Department of Housing and Community Renewal. 18 And according to the Housing Works of America 19 report, there are about 170 loan counseling 20 offices in all the counties in New York State. 21 So that hundred-mile radius has no application 22 whatsoever. Through you, Mr. President. 23 SENATOR RANZENHOFER: Through 24 you, Mr. President, if Senator Sampson would

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(518) 371-8910 1 continue to yield. 2 ACTING PRESIDENT BRESLIN: 3 Senator Sampson, do you continue to yield? 4 SENATOR SAMPSON: Of course. 5 ACTING PRESIDENT BRESLIN: You 6 may proceed. 7 SENATOR RANZENHOFER: My focus 8 wasn't really on the jurisdiction. But do you 9 think it's necessary to -- 10 SENATOR SAMPSON: I can't hear 11 Senator Ranzenhofer. 12 SENATOR RANZENHOFER: Can we have 13 some quiet, please. 14 ACTING PRESIDENT BRESLIN: May we 15 have some quiet. Take your conversations out 16 of the chamber. 17 Senator Ranzenhofer. 18 SENATOR RANZENHOFER: Do you 19 think it's necessary that a consumer be 20 provided with a loan counseling disclosure 21 when they apply for their mortgage and then 22 again when they sign the contract or advice 23 versa, when they sign the contract and then 24 when they go get their loan application?

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(518) 371-8910 1 SENATOR SAMPSON: Through you, 2 Mr. President. As I indicated before earlier, 3 Senator Ranzenhofer, to me there is never 4 enough education when engaging in these 5 transactions, especially looking at the 6 results of what has happened in the last two 7 or three years with respect to the tremendous 8 financial crisis and the monies that we had to 9 use through the government to bail out 10 financial institutions such as Fannie Mae, 11 these big lending institutions. 12 So I don't think there is enough 13 education that can be provided to them. And 14 the only thing we're providing, Mr. President, 15 is just a brochure to give them an opportunity 16 to read up so when they go into these settings 17 and situations, they can ask the necessary 18 questions. 19 And it's just like anything else, 20 when you go prepare for an exam -- through 21 you, Mr. President -- I'd rather have all the 22 information necessary that prepares me for any 23 situation or circumstances that may arise on 24 an examination. Through you, Mr. President.

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: 2 Senator Ranzenhofer. 3 SENATOR RANZENHOFER: Yes, if 4 Senator Sampson would continue to yield. 5 ACTING PRESIDENT BRESLIN: Do you 6 continue to yield, Senator Sampson? 7 SENATOR SAMPSON: Yes, I do. 8 ACTING PRESIDENT BRESLIN: You 9 may proceed. 10 SENATOR RANZENHOFER: In a real 11 estate transaction where there is no lawyer 12 and no real estate broker, who is required to 13 provide the loan disclosure information? 14 SENATOR SAMPSON: Well, if there 15 is a situation where there is no attorney 16 and/or broker, I would advise the person who 17 is engaging in that to not engage in that 18 transaction at all. 19 SENATOR RANZENHOFER: So you 20 shouldn't be allowed to have -- through you, 21 Mr. President, if the Senator will continue to 22 yield. 23 ACTING PRESIDENT BRESLIN: 24 Senator Sampson, will you continue to yield?

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(518) 371-8910 1 SENATOR SAMPSON: Of course I 2 would. 3 SENATOR RANZENHOFER: Are you 4 suggesting that you shouldn't be allowed to 5 sell your property for sale by owner and then 6 close it yourself? 7 SENATOR SAMPSON: If an owner is 8 selling the property himself? 9 SENATOR RANZENHOFER: Right. 10 SENATOR SAMPSON: If the owner is 11 selling his property himself at that point to 12 an individual who is purchasing a piece of 13 property, at that point in time this would 14 only apply to attorneys and/or brokers. 15 But you can classify -- you can 16 make the argument that the person who is 17 selling that property is acting as his own 18 broker, if you want to get technical about it. 19 SENATOR RANZENHOFER: I'm sorry? 20 21 SENATOR SAMPSON: Through you, 22 Mr. President, if you want to get technical, 23 you can make the argument that the person who 24 is selling their property, I would make the

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(518) 371-8910 1 argument that they themselves are a broker, so 2 therefore they would be required to provide 3 the notice. 4 ACTING PRESIDENT BRESLIN: 5 Senator Ranzenhofer. 6 SENATOR RANZENHOFER: On the 7 bill. 8 ACTING PRESIDENT BRESLIN: 9 Senator Ranzenhofer, on the bill. 10 SENATOR RANZENHOFER: I 11 understand what Senator Sampson is trying to 12 accomplish. 13 And actually, there's actually a 14 bill pending in this house sponsored by 15 Senators Monserrate, Hassell-Thompson, Klein, 16 Onorato, Oppenheimer and Thompson which 17 actually deals with the issue that I think 18 Senator Sampson is trying to address. And 19 that is requiring disclosure about mortgages 20 by the mortgage lending institution. This is 21 a bill which has already passed the Assembly, 22 is pending in this house, and really puts the 23 onus of the responsibility where it belongs. 24 There's two parts of every real

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(518) 371-8910 1 estate transaction. There's the real estate 2 contract between a buyer and a seller -- 3 sometimes using real estate agents and 4 sometimes using attorneys and sometimes not -- 5 and then there's the financial contract. 6 Sometimes people are prequalified 7 so they get all their financial information up 8 front, and then they go look for a home. And 9 sometimes people do it the other way around, 10 that they go and buy a home and then they look 11 for the real estate contract. 12 I am troubled by the last comment 13 that it would be suggested that if you sell 14 your home by yourself, that you would then be 15 deemed to be a real estate broker -- because 16 that would actually be illegal. Because I 17 think in order to be a real estate broker, you 18 have to be licensed. So you'd actually be 19 committing a crime. 20 And to suggest that that type of 21 activity could take place and you'd be 22 subjecting a homeowner who sells the house by 23 himself or herself to criminal activity 24 because they're selling a home without a

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(518) 371-8910 1 license, that really troubles me greatly. 2 But I've said from the very 3 beginning, I realize that there are 4 improvements to the bill, that there have been 5 some suggestions. But the basic problem that 6 I have is that it really puts the 7 responsibility for notifying a prospective 8 purchaser really in the wrong place. 9 I do favor disclosure, but I think 10 that Senator Monserrate and the cosponsors of 11 that bill really have the issue correctly and 12 putting the responsibility where the 13 responsibility should lie. 14 When people are looking for a house 15 and they're signing a contract, they're 16 concerned about the price, they're concerned 17 about whether or not they get the 18 refrigerator. Those are the issues that 19 they're thinking about. And any disclosure at 20 that time, if there is to be disclosure, is 21 really not going to be relevant at that time. 22 Relevant disclosure for a consumer 23 takes place when you're dealing with the 24 financial issues, whether -- again, whether

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(518) 371-8910 1 you get prequalified or whether you do it 2 after the fact. 3 So again, I'm troubled by this. 4 Because as I said from the very beginning when 5 we discussed this, the disclosure is really 6 not taking place where the disclosure has any 7 effect. 8 I think the Monserrate bill which 9 has been introduced and already passed by the 10 Assembly is the proper way to go. 11 Again, I'm deeply troubled that by 12 voting for this it would be suggesting that 13 homeowners would be committing some sort of 14 illegal activity, that they would have some 15 sort of responsibility as a broker for this 16 disclosure and therefore could be getting in 17 trouble. So I will not be supporting this 18 bill. 19 Thank you, Mr. President. 20 ACTING PRESIDENT BRESLIN: Thank 21 you, Senator Ranzenhofer. 22 Senator Volker. 23 SENATOR VOLKER: Mr. President, 24 let me just say I think part of the confusion

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(518) 371-8910 1 for those of us -- 2 ACTING PRESIDENT BRESLIN: 3 Senator Volker, on the bill. 4 SENATOR VOLKER: -- that practice 5 real estate upstate -- and I admit that I 6 don't practice a lot anymore. In my younger 7 days, I practiced a great deal. In fact, I 8 closed deals in Buffalo, Rochester, Syracuse, 9 Albany and New York City at one time or 10 another. 11 The funny thing about it is I 12 thought the New York City process was the 13 poorest of all the processes. And the bank 14 that I closed at was the Chase Manhattan Bank. 15 But the Buffalo process encompasses 16 just about everything that's in your bill. We 17 have our own contract now, and we have 18 three-day clauses, we have inspections, we 19 have all sorts of things. And in fact the 20 problem is we've got so much paperwork now -- 21 in the old days you had a couple of papers, a 22 contract. Today we've got about eight or 10, 23 and everybody has to sign off. 24 I think probably -- and I don't

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(518) 371-8910 1 know the New York City situation anymore. My 2 guess is that because of the situation in 3 New York City, your bill probably is aimed at 4 certain banks or whatever who may not be as 5 careful. 6 We have a situation, for instance, 7 where you've got the attorney for both sides, 8 you've got the attorney for the title company, 9 because the banks won't close mortgages in 10 Western New York anymore without a title 11 company. And there's an attorney for the 12 title company plus then you have the attorney 13 for the bank. I'm not exactly sure sometimes 14 what that attorney for the bank does, other 15 than reading what the title report is. 16 But I think the thing is, if I 17 could just put it, I think our difficulty is 18 we're used to different situations. And 19 New York City is probably different. I think 20 that's where a lot of the confusion lies and 21 the reasons some of us have concerns. 22 Frankly, I don't -- my personal 23 feeling is I doubt this will have much 24 application in my area anyways.

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: Thank 2 you, Senator Volker. 3 Are there any other Senators 4 wishing to be heard? 5 Hearing none, the debate is closed. 6 The Secretary will ring the bell. 7 Read the last section. 8 THE SECRETARY: Section 2. This 9 act shall take effect immediately. 10 ACTING PRESIDENT BRESLIN: Call 11 the roll. 12 (The Secretary called the roll.) 13 ACTING PRESIDENT BRESLIN: 14 Senator LaValle, to explain his vote. 15 SENATOR LaVALLE: Thank you, 16 Mr. President. 17 We were talking, and Senator 18 Padavan, of course, is always a good person to 19 whittle down and get to the bottom line on an 20 issue. But one of the things is that I think 21 we're mixing a couple of issues here together. 22 The contract for sale, which can be 23 a discussion between the seller and the 24 purchaser and take a long time whittling down

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(518) 371-8910 1 the details on how the property is going to be 2 sold, in what condition, and on and on and on. 3 Now we're attaching, you know, another 4 document on top of getting to the actual 5 closing. 6 I think that every attorney who 7 does real estate closings, if you wait a 8 six-month period between one closing and 9 another, you will find new forms, new things 10 that have been added to the transaction. 11 ACTING PRESIDENT BRESLIN: Excuse 12 me, Senator LaValle. 13 May we have quiet. 14 SENATOR LaVALLE: And I think 15 every attorney here knows you sit with your 16 client and you say, "This form does this." 17 "Okay." They sign it. "This form does this." 18 "Okay." They sign it. 19 I think the appropriate place for 20 this is at the time the person is taking out 21 their mortgage, having that discussion and 22 having the bank do the disclosure form, and 23 that ends it. It's the same thing at the 24 beginning of the process where there's a real

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(518) 371-8910 1 estate broker, they have documentation that is 2 separate and apart from the contract for sale. 3 Now, it varies in different parts 4 of the state. But while the intention of this 5 bill is good, and I would like to support 6 this, I think that this bill will come back 7 again for another amendment. 8 At this time, I vote in the 9 negative. 10 ACTING PRESIDENT BRESLIN: 11 Senator LaValle will be recorded in the 12 negative. 13 Senator Saland, to explain his 14 vote. 15 SENATOR SALAND: Thank you. 16 Thank you, Mr. President, to explain my vote. 17 I first would like to commend 18 Senator Sampson, who obviously listened at 19 great length to some of the exchanges that 20 occurred with regard to his bill. And I fear 21 I may be accused of to some extent piling on. 22 I think virtually all of the issues 23 have been addressed. I certainly support the 24 concept and the idea of the disclosure that's

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(518) 371-8910 1 contained within this legislation. 2 But the point at which there is 3 nexus is the initial point of application for 4 the lending institution. We do have other 5 instances in which, for example, you have 6 rights of rescission with respect to certain 7 loans. You could craft something which would 8 enable an individual who is making an 9 application to have, in effect, a breathing 10 period that would trigger the ability to get 11 that loan counseling if he, she or they wish 12 it, without prejudicing their application. 13 So I commend you, Senator Sampson. 14 I think there's one little step left to go. 15 And I think that is not to put the burden on 16 third parties -- attorneys and brokers. Place 17 it where the nexus is, where the application 18 is being submitted, with the institution that 19 has the wherewithal to take care of all these 20 things under one umbrella. 21 And for that reason and that reason 22 alone, I can't support this bill at this time, 23 and I will be voting in the negative. 24 Thank you.

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: 2 Senator Saland to be recorded in the negative. 3 Senator Marcellino, to explain his 4 vote. 5 SENATOR MARCELLINO: Yes, Mr. 6 President, I thank you for recognizing me so I 7 can explain my vote. 8 Senator Sampson, I agree, I 9 understand what you're trying to do. And like 10 my colleague before me just stated, I think, 11 as we used to say in my neighborhood, you put 12 the emPHAsis on the wrong syllABle. 13 This belongs at the bank. This 14 belongs at the lending institution. It 15 doesn't belong on the back of the brokers or 16 the attorneys. I think by that time it's too 17 late. It should be done at the initial stage, 18 when the client goes into the bank and decides 19 to take that loan or not, and I think that's 20 where the emphasis should be placed. 21 So I will be voting no on this 22 particular bill at this time. I look forward 23 to the merging, perhaps, of this current bill 24 with perhaps Senator Monserrate's bill, and

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(518) 371-8910 1 see if we can get the two together, because I 2 think the Monserrate bill does what you want, 3 and I think at the right spot. 4 I vote no, Mr. President. 5 ACTING PRESIDENT BRESLIN: 6 Senator Marcellino will be recorded in the 7 negative. 8 Senator Liz Krueger, to explain her 9 vote. 10 SENATOR LIZ KRUEGER: Thank you. 11 I rise to support the bill and particularly to 12 highlight the point I think that some of my 13 colleagues don't agree with me on, that it 14 should be done somehow later in the process 15 rather than at the actual contract of sale. 16 I in my own district have had a 17 whole group of constituents come to me -- and 18 again, I tend to have a very sophisticated 19 district. Everyone has lawyers, they're 20 talking about purchasing fairly expensive 21 condominium and co-ops. And they came to me 22 to show that in the contract of sale they had 23 signed it didn't even allow them an out if 24 they couldn't get a mortgage.

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(518) 371-8910 1 And so they are trapped in 2 contracts where they couldn't get mortgages, 3 because of course the reality of mortgages has 4 changed, and they're trapped in a contract of 5 sale to have to purchase apartments they can't 6 afford with no out. 7 And I asked, "You're such educated, 8 sophisticated people, how did you not see 9 that, and you had lawyers?" And they said, 10 "Well, that was the standard." And so things 11 become the standard without anybody looking or 12 questioning. 13 And so I think it is critical to 14 have independent counselors who people have do 15 go to even before they get to the stage of 16 making the right decision over a type of 17 mortgage. 18 And again, it's very disturbing to 19 me that in our state, at this point in 20 history, we have these kinds of shenanigans 21 going on. So you're right, there are 22 different riders that can come and go, but I 23 think it is crucial that there be an 24 independent model of counseling people: Do

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(518) 371-8910 1 you know what you're being asked to sign. 2 And so I think that this is very 3 good legislation, very timely and important, 4 and I vote yes. 5 Thank you. 6 ACTING PRESIDENT BRESLIN: 7 Senator Montgomery, to explain her vote. 8 SENATOR MONTGOMERY: Yes, thank 9 you, Mr. President. 10 I rise to also commend and thank my 11 colleague Senator Sampson for this 12 legislation, as one who has represented a 13 problem that has been going for some years 14 back, even before the current explosion. 15 There was a lot of activity related to 16 predatory lending in my district in the 17 northern part of the Brooklyn, as well as 18 Queens, as well as the Bronx and many other 19 communities. 20 So this really is an attempt to 21 help people protect themselves from predators 22 who come into communities and really prey on 23 people who don't understand the implications 24 of what is being offered to them.

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(518) 371-8910 1 And so this really is important 2 legislation for that reason, that purpose. 3 And I commend Senator Sampson because this is 4 something that is already in law in some of 5 the states, and it has been a proven success 6 that people who have knowledge before they 7 enter into contracts are less likely, much 8 less likely to have a predatory lending 9 problem. 10 So I appreciate this. And I'm sure 11 that my constituents would be very, very 12 pleased to know that we are doing something 13 that actually helps them protect themselves 14 from the kind of unscrupulous activities 15 related to purchasing homes and selling their 16 homes. 17 So thank you, Mr. President. I 18 vote aye. 19 ACTING PRESIDENT BRESLIN: 20 Senator Montgomery will be recorded in the 21 affirmative. 22 Announce the results. 23 THE SECRETARY: Those recorded in 24 the negative on Calendar Number 4 are Senators

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(518) 371-8910 1 DeFrancisco, Flanagan, Golden, Griffo, Hannon, 2 O. Johnson, Lanza, Larkin, LaValle, Leibell, 3 Libous, Little, Marcellino, Maziarz, Nozzolio, 4 Ranzenhofer, Robach, Saland, Seward, Skelos, 5 Winner and Young. 6 Absent from voting: Senator Diaz. 7 Excused: Senator Alesi. 8 Ayes, 38. Nays, 22. 9 ACTING PRESIDENT BRESLIN: The 10 bill is passed. 11 The Secretary will continue to 12 read. 13 THE SECRETARY: Calendar Number 14 282, by Senator Monserrate, Senate Print 2760, 15 an act to amend the Banking Law and the Real 16 Property Tax Law. 17 SENATOR VOLKER: Mr. President, 18 will you recognize Senator Ranzenhofer, who 19 has an amendment. And you don't have to read 20 the amendment. 21 ACTING PRESIDENT BRESLIN: 22 Senator Ranzenhofer. 23 SENATOR RANZENHOFER: Thank you, 24 Mr. President. I have an amendment. After

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(518) 371-8910 1 the -- 2 ACTING PRESIDENT BRESLIN: 3 Senator Ranzenhofer. Excuse me, Senator 4 Ranzenhofer. I have reviewed the amendment 5 with counsel and rule it out of order as not 6 germane to the original bill. 7 SENATOR RANZENHOFER: Mr. 8 President, if I could just have a word on that 9 or challenge the chair. 10 ACTING PRESIDENT BRESLIN: Would 11 you let me please finish? 12 SENATOR RANZENHOFER: I'm sorry, 13 Mr. President. 14 ACTING PRESIDENT BRESLIN: Your 15 amendment providing for a real property tax 16 cap for persons over the age of 70 deals with 17 a different topic and body of substantive law 18 than the underlying bill; that is, amending 19 the Banking Law to provide that proceeds of a 20 reverse mortgage cannot be considered as 21 income for purposes of certain property tax 22 exemptions. Your amendment would require a 23 change in the title of the original bill. 24 For those reasons, I believe that

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(518) 371-8910 1 the amendment that you offered today relates 2 to a different subject matter than the one 3 under consideration. 4 Moreover, your amendment 5 significantly expands the purpose, scope, and 6 object of the original bill. Since the 7 fundamental purpose of your amendment does not 8 relate to the same fundamental purpose of the 9 Monserrate bill, the amendment is not germane 10 to the original bill. 11 SENATOR RANZENHOFER: Thank you, 12 Mr. President. I'd like to challenge the 13 ruling of the chair. 14 ACTING PRESIDENT BRESLIN: Are 15 you appealing the ruling? 16 SENATOR RANZENHOFER: Yes, I am. 17 Could I speak on that? 18 ACTING PRESIDENT BRESLIN: You 19 can now speak on that, Senator Ranzenhofer. 20 SENATOR RANZENHOFER: Thank you, 21 Mr. President. 22 If you take a look at the bill 23 that's before us and my amendment, both deal 24 with the exact same section of law. So when

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(518) 371-8910 1 you say it deals with a different area of 2 substantive law, both deal with Section 467 of 3 the Real Property Tax Law. So I don't 4 understand the explanation that it deals with 5 a different area of substantive law, because 6 it deals with the exact same section. 7 Furthermore, they both deal with 8 the very important issue of property taxes, 9 which again, after the STAR rebate checks were 10 killed, the property tax is very important. 11 And again, both bills deal with property 12 taxes. 13 And finally, both deal with 14 property tax relief for seniors. 15 So for those reasons, 16 Mr. President, especially since both deal with 17 exactly the same section, 467, I think they 18 should be considered together. 19 Thank you, Mr. President. 20 ACTING PRESIDENT BRESLIN: Thank 21 you, Senator Ranzenhofer. 22 The question before the house is 23 whether the decision of the chair shall stand 24 as the judgment of the Senate. All those in

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(518) 371-8910 1 favor of overruling the decision of the chair 2 please signify by raising your hands. 3 The Secretary will announce the 4 results. 5 THE SECRETARY: Ayes, 27. Nays, 6 31. 7 ACTING PRESIDENT BRESLIN: Having 8 failed to obtain the necessary votes, the 9 ruling of the chair is sustained and the 10 appeal is denied. 11 Read the last section. 12 THE SECRETARY: Section 4. This 13 act shall take effect on the 90th day. 14 ACTING PRESIDENT BRESLIN: Call 15 the roll. 16 (The Secretary called the roll.) 17 ACTING PRESIDENT BRESLIN: Ring 18 the bell, please. 19 Read the last section. 20 THE SECRETARY: Section 4. This 21 act shall take effect on the 90th day. 22 ACTING PRESIDENT BRESLIN: Call 23 the roll. 24 (The Secretary called the roll.)

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(518) 371-8910 1 ACTING PRESIDENT BRESLIN: 2 Announce the results. 3 THE SECRETARY: In relation to 4 Calendar Number 282, absent from voting: 5 Senator Diaz. Excused, Senator Alesi. 6 Ayes, 60. Nays, 0. 7 ACTING PRESIDENT BRESLIN: 8 Senator Klein, why do you rise? 9 SENATOR KLEIN: Would you 10 recognize and congratulate Senator Monserrate. 11 This was his first bill passed in the Senate. 12 (Applause.) 13 ACTING PRESIDENT BRESLIN: 14 Congratulations, Senator Monserrate. 15 SENATOR MONSERRATE: I'd like to 16 thank my colleagues and the staff in the 17 passing of this very important legislation to 18 provide seniors with the protections and 19 clarity to this bill and this legislation. 20 Thank you all very much. 21 ACTING PRESIDENT BRESLIN: The 22 bill is passed. 23 Senator Klein, that completes the 24 controversial reading of active bills on the

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(518) 371-8910 1 calendar. 2 SENATOR KLEIN: Mr. President, 3 can you please recognize Senator Ruth 4 Hassell-Thompson for a brief announcement. 5 ACTING PRESIDENT BRESLIN: 6 Senator Hassell-Thompson. 7 SENATOR HASSELL-THOMPSON: Thank 8 you, Mr. President. 9 I would like to announce that 10 immediately following session there will be a 11 Majority conference in Room 332, immediately. 12 Thank you. 13 ACTING PRESIDENT BRESLIN: There 14 will be an immediate meeting of the Senate 15 Majority in Room 332 after this session. 16 SENATOR KLEIN: Mr. President, is 17 there any further business at the desk? 18 ACTING PRESIDENT BRESLIN: The 19 desk is clear, Senator Klein. 20 SENATOR KLEIN: There being none, 21 I move we adjourn until Monday, May 18th, at 22 3:00 p.m., intervening days to be legislative 23 days. 24 ACTING PRESIDENT BRESLIN: There

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(518) 371-8910 1 being no further business to come before the 2 Senate, on motion, the Senate stands adjourned 3 until Monday, May 18th, at 3:00 p.m., 4 intervening days being legislative days. 5 (Whereupon, at 12:19 p.m., the 6 Senate adjourned.) 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

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(518) 371-8910