Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 18, 2012 |
signed chap.255 |
Jul 06, 2012 |
delivered to governor |
Jun 14, 2012 |
returned to senate passed assembly ordered to third reading rules cal.211 substituted for a9692 |
Jun 13, 2012 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.1218 |
Jun 04, 2012 |
referred to rules |
Senate Bill S7555
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C) 7th Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2011-S7555 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9692
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §§10.10 & 20.00, Loc Fin L; amd §14, Chap 386 of 2010
2011-S7555 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7555 TITLE OF BILL: An act to amend the local finance law, in relation to making technical amendments to the time frame within which a governing board of the municipality or school district authorized to incur debt to finance a deficit may make adjustments to its proposed budget; updating the list of types of obligations which may be issued by municipalities, school districts or district corporations; and to amend chapter 386 of the laws of 2010, amending the local finance law relating to the private sale of bonds, in relation to eliminating the expiration and repeal of such provisions PURPOSE: To correct two technical errors in the Local Finance Law and to repeal the expiration of the increase in the amount of bonds a municipality, school district or district corporation annually may sell at private sale in any fiscal year. SUMMARY OF PROVISIONS: Section 1 of this bill would amend Paragraph d of Section 10.10 of the Local Finance Law to delete the phrase "within fifteen days after receipt of any such recommendations."
2011-S7555 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7555 I N S E N A T E June 4, 2012 ___________ Introduced by Sen. MARTINS -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the local finance law, in relation to making technical amendments to the time frame within which a governing board of the municipality or school district authorized to incur debt to finance a deficit may make adjustments to its proposed budget; updating the list of types of obligations which may be issued by municipalities, school districts or district corporations; and to amend chapter 386 of the laws of 2010, amending the local finance law relating to the private sale of bonds, in relation to eliminating the expiration and repeal of such provisions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph d of section 10.10 of the local finance law, as added by chapter 341 of the laws of 2007, is amended to read as follows: d. beginning with the fiscal year during which the municipality or school district is authorized to incur debt to finance the deficit, to and including the last fiscal year during which such debt or any debt incurred to refund such debt is outstanding, the chief executive officer or other individual or individuals responsible for the preparation of the tentative budget, or in the case of a town, the preliminary budget, shall submit the tentative or preliminary budget for the next succeeding fiscal year to the state comptroller and, in the case of a school district, also to the commissioner of education, no later than thirty days before the date scheduled for the governing board's vote on the adoption of the final budget or the last date on which the budget may be finally adopted, whichever is sooner. The state comptroller and, in the case of a school district, the commissioner of education, shall examine such proposed budget and make such recommendations as deemed appropriate thereon to the municipality or school district prior to the adoption of the budget, but no later than ten days before the date scheduled for the governing board's vote on the adoption of the final budget or the last date on which the budget must be adopted, whichever is sooner. Such EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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