The Dormitory Authority of the State of New York will be able to issue tax-exempt bonds for nonprofits in the manner previously handled by Industrial Development Agencies, under legislation Gov. David Paterson submitted Tuesday.

Program bill 311 would allow DASNY to issue bonds for civic facilities on behalf of 501(c)(3) nonprofit corporations. IDAs have been unable to do these kinds of transactions since the law authorizing them expired in 2008.

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