There is hereby created the New York state medical care facilities finance agency. The agency shall be a corporate governmental agency constituting a public benefit corporation. From and after the effective date of the health care financing consolidation act, as provided in subdivision 1 of section 1699-f of the public authorities law, the agency shall continue its corporate existence in and through the dormitory authority, and the dormitory authority shall succeed to the powers, duties and functions of the agency.
N.Y. Medical Care Facilities Finance Agency Law § 4