Creates the New York title guaranty authority

This bill creates the New York Title Guaranty Authority, a new state agency designed to provide title guaranties for real property transactions across New York. It directly affects property owners, buyers, and real estate professionals by offering financial protection against title defects (such as ownership disputes or liens) that could derail property sales. The authority will be governed by a seven-member board appointed by the governor (with two members recommended by the Senate President and two by the Assembly Speaker) and can issue bonds to fund the program while managing reserves. It operates as a public benefit corporation with specific investment rules to ensure financial stability, but does not alter existing title insurance regulations or costs for consumers.