Provides dormitory authority financing for construction of buildings to be used as a school for Yeshiva Ohr Yoseph

2025 Regular Session Introduced by Sam Sutton

Authorizes a public authorities financing plan to build, acquire, and equip a school facility for Yeshiva Ohr Yoseph at 1128 36th St, Brooklyn.

REFERRED TO WAYS AND MEANS

Summary of Bill S 10619 (Session 2025-2026, New York)

Purpose and intent

The bill seeks to authorize dormitory and related financing through a public authorities mechanism to support the construction of a building to be used as a school for Yeshiva Ohr Yoseph.

It designates Yeshiva Ohr Yoseph as the beneficiary for financing, acquisition, and equipping of the specified facility.

Key provisions and changes

Adds a new designation to the Public Authorities Law, authorizing a financing plan for Yeshiva Ohr Yoseph:

The institution is described as an independent, not-for-profit private accredited college/school of higher learning.
It is exempt from federal income tax under § 501(c)(3) of the Internal Revenue Code.
The project involves financing, acquisition, and equipping of a building located at 1128 36th Street, Kings County, New York, to be used as a school.

The bill amends two sections of the Public Authorities Law:

Section 1676(2)(b): Adds an undesignated paragraph naming Yeshiva Ohr Yoseph as a qualified entity for the described financing and project.
Section 1680(1): Adds an undesignated paragraph similarly naming Yeshiva Ohr Yoseph as eligible for financing, acquisition, and equipment for the school project.

Effective date: The act takes effect immediately upon enactment.

Who or what would be affected

Beneficiary: Yeshiva Ohr Yoseph, an independent, not-for-profit private accredited college/school of higher learning (tax-exempt under § 501(c)(3)).

Financing/Construction: The bill would enable a public authorities financing mechanism to support the construction, acquisition, and outfitting of a building at 1128 36th Street, Brooklyn, to be used as a school for Yeshiva Ohr Yoseph.

Broader implications: Aligns with state tools that use public authorities financing to support capital facilities for private, not-for-profit educational institutions.

Procedural and timeline aspects

Introduced in the New York State Senate by Senator Sutton (co-sponsored by Sam Sutton).

Date of action history: Referred to the Rules committee on June 1, 2026.

The bill would become law if it passes both legislative chambers and is signed (or allowed to become law without signature) by the Governor; it contains an immediate effective date upon enactment.

Notes and context

The language emphasizes financing, acquisition, and equipment related to a specific private educational facility, leveraging New York’s public authorities financing framework.

The bill does not specify dollar amounts, interest terms, repayment schedules, or oversight mechanisms beyond the general authorization to finance and construct the facility.