GOVERNOR'S PROGRAM BILL.
on PROGRAM BILL # 2.6 2
MEMORANDUM
‘AN ACT to amend chapter 405 of the laws of 1999
‘amending the real property tax law relating to
improving the administration of the school tax
relief (STAR) program, in relation to the lottery
game of Quick Draw; to amend chapter 349 of
the laws of 1982 amending the multiple dwelling
law relating to legalization of interim multiple
dwellings in cities over one millort, in relation to
the effectiveness thereof; to amend the multiple
dwelling law, in relation to owner obligations; in
relation to providing for the administration of
certain funds and accounts relating to the 2010-
2011 budget; and to amend the private housing
finance law, in relation to authorizing certain
deposits and transfers
Purpose:
This bill contains provisions that are necessary to ensure the continuation of various
programs and fiscal management for the 2010-11 State Fiscal Year.
Summary of Provisions:
This bill would:
Extend the authorization for the Division of the Lottery to operate the Quick Draw
Lottery game through June 18, 2010. The Lottery's authorization to operate Quick Draw
currently expires on May 31, 2010;
Extend the interim dwellings or “Lofts Law” provisions for residences in buildings
previously zoned for commercial use in New York City until June 18, 2010;
Authorize the New York Power Authority to deposit $65 million in unrestricted resources:
to the General Fund; and
Authorize a deposit from the Housing Finance Agency to deposit funds to the General
Fund in an amount to be agreed upon with the Director of the Budget.
Statement in Support and Budgetary Implications:
This bill is necessary to continue the existence of Quick Draw - the extension would
preserve $6 million in revenue to support education. Further, this bill ensures continued
authorization for the Lofts Law. Additionally, the deposits authorized in this bill are
necessary to assist the State in meeting its fiscal obligations.