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Assembly Bill A10245

2025-2026 Legislative Session

Permits land bank officers and employees to participate in the New York state and local retirement system

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Current Bill Status - In Assembly Committee

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2025-A10245 (ACTIVE) - Details

See Senate Version of this Bill:
S9297
Current Committee:
Assembly Local Governments
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §1603, N-PC L

2025-A10245 (ACTIVE) - Summary

Permits land bank officers and employees to participate in the New York state and local retirement system if a resolution is adopted by its board of directors.

2025-A10245 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10245
 
                           I N  A S S E M B L Y
 
                             February 12, 2026
                                ___________
 
 Introduced  by  M.  of  A.  MANKTELOW  --  read once and referred to the
   Committee on Local Governments
 
 AN ACT to amend the  not-for-profit  corporation  law,  in  relation  to
   permitting  land bank officers and employees to participate in the New
   York state and local retirement system
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  1603  of  the  not-for-profit corporation law is
 amended by adding a new paragraph (i) to read as follows:
   (I) EACH LAND BANK CREATED PURSUANT TO THIS ARTICLE SHALL BE A  PUBLIC
 ORGANIZATION  ENGAGED  IN PUBLIC SERVICE DERIVING ITS POWER FROM THE NEW
 YORK STATE LEGISLATURE AND, UPON A RESOLUTION DULY ADOPTED BY ITS  BOARD
 OF  DIRECTORS,  MAY ELECT TO HAVE ITS OFFICERS AND EMPLOYEES PARTICIPATE
 IN THE NEW YORK STATE AND LOCAL RETIREMENT SYSTEM.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14577-01-6

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