Creates the New York title guaranty authority

S 2554 creates the New York Title Guaranty Authority, a state-run public benefit corporation. This authority will directly offer title guaranties to protect real property owners against ownership disputes or defects in property titles across New York. The bill establishes the authority's structure, including a seven-member board appointed by the governor (with input from legislative leaders), and grants it powers to issue bonds, manage funds, and operate the guaranty program. The program aims to provide an alternative to private title insurance for property transactions, though it does not replace existing private title insurance services.