Authorizes the dormitory authority to provide financing to the Dutchess Community College Association, Inc. for the construction of facilities

Latest action Aug 26, 2025

Authorizes the dormitory authority to provide financing to the Dutchess Community College Association, Inc. for the construction of facilities for the purpose of financing or refinancing the acquisition, design, construction, reconstruction, rehabilitation, improvement, furnishing and equipping of, or otherwise providing for residential housing located on the campus of Dutchess Community College.

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Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A7994, the matching bill in the Assembly.

Passed as A7994, the matching Assembly bill.

Amends the Public Authorities Law.

Committee

Corporations, Authorities and Commissions · New York State Assembly

Also referred to Corporations, Authorities And Commissions · New York State Senate, Rules · New York State Assembly, Rules · New York State Senate.

Purpose, from the sponsor's memo

§ 1: Amends paragraph (b) of subdivision 2 of Section 1676 of the Public Authorities Law is amended by adding a new undesignated paragraph to read as follows: Dutchess Community College Association, Inc. for the purpose of financing or refinancing the acquisition, design, construction, reconstruction, rehabilitation, improvement, furnishing and equipping of, or otherwise providing for residential housing located on the campus of Dutchess Community College. § 2: Amends subdivision 1 of Section 1680 of Public Authorities Law is amended by adding a new undesignated paragraph to read as follows: Dutchess Community College Association, Inc. for the purpose of financ- ing or refinancing the acquisition, design, construction, recon- struction, rehabilitation, improvement, furnishing and equipping of, or otherwise providing for residential housing located on the campus of Dutchess Community College. § 3: Effective date.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateJun 13, 2025Result: passedSenate vote on A7994, the matching Assembly bill.
(59) (0) (0) (4)
Vote: Committee vote · Rules
Senate RulesJun 12, 2025Result: passed
(20) (0) (0) (1)

The sponsor's argument

Why Robert Rolison says this is needed

DASNY, a public benefit corporation authorized to issue bonds on behalf of the state, was first established in 1944 for the financing and construction of dormitories at eleven state teachers colleges. The legislature later expanded the scope of the corporation's work to also include hospitals with nursing schools, court facilities, private universities, nonprofit healthcare facilities, government agencies, school districts, and other public-serving institutions. One of the largest financiers of social infrastructure in the country, DASNY is able to issue bonds which accrue interest on which the bondholders do not have to pay taxes, thus allowing DASNY to offer lower interest rates to its clients compared to those in the commercial loan market. In exchange, the state-backed nature of DASNY's debt guarantees its bond- holders a steady stream of income payments while boosting DASNY's credit ratings. Beyond purely public works, the flexible and low-cost nature of DASNY's financing and construction services has rendered it an attrac- tive option for a great many other cultural and educational institutions over the years, all of whom have been expressly granted the authority to contract with DASNY under Title 4 of Public Authorities Law. This legis- lation seeks to also extend this eligibility to Dutchess Community College Association, Inc.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Aug 26, 2025
Signed
SIGNED CHAP.355
NY Assembly
Aug 22, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Jun 13, 2025
3RD Reading CAL.2002
3RD READING CAL.2002
NY Senate
Jun 13, 2025
Passed a chamber
PASSED SENATE
NY Senate
Jun 13, 2025
Substituted
SUBSTITUTED BY A7994B
NY Senate

Show full history (15 earlier events)

Jun 12, 2025
In committee
COMMITTEE DISCHARGED AND COMMITTED TO RULES
NY Senate
Jun 12, 2025
Ordered to Third Reading CAL.2002
ORDERED TO THIRD READING CAL.2002
NY Senate
Jun 9, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
Jun 9, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
Jun 9, 2025
Referred to committee
REFERRED TO RULES
NY Senate
Jun 9, 2025
Reported out of committee
REPORTED
NY Assembly
Jun 9, 2025
Rules Report CAL.522
RULES REPORT CAL.522
NY Assembly
Jun 6, 2025
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
May 28, 2025
Reported out of committee
REPORTED REFERRED TO WAYS AND MEANS
NY Assembly
May 15, 2025
Amend and Recommit to Corporations, Authorities and Commissions
AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Senate
May 15, 2025
Amend and Recommit to Corporations, Authorities and Commissions
AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Assembly
Apr 28, 2025
Amend (t) and Recommit to Corporations, Authorities and Commissions
AMEND (T) AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Senate
Apr 25, 2025
Amend (t) and Recommit to Corporations, Authorities and Commissions
AMEND (T) AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Assembly
Apr 16, 2025
Referred to committee
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Assembly
Apr 11, 2025
Referred to committee
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 22, 2026. About our data

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