NY S08717

Amends paragraph (g) of section 1603 of the not-for-profit corporation law to increase the maximum number of authorized land banks in New York State from twenty-five to thirty-five.

Maintains existing requirement that foreclosing governmental units submit local law, ordinance, or resolution to the urban development corporation for review and approval before creating a land bank.

Retains the condition that land bank creation remains subject to urban development corporation approval.

Takes effect immediately upon enactment.