NY A10245

Land banks created under New York's not-for-profit corporation law would be classified as public organizations engaged in public service deriving power from the state legislature

Officers and employees of land banks could participate in the New York State and Local Retirement System if the land bank's board of directors adopts a resolution electing to provide this benefit

Amends Section 1603 of the not-for-profit corporation law by adding a new paragraph (i)

Takes effect immediately upon passage