Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 19, 2014 |
referred to local governments delivered to assembly passed senate |
May 05, 2014 |
advanced to third reading |
Apr 30, 2014 |
2nd report cal. |
Apr 29, 2014 |
1st report cal.449 |
Mar 13, 2014 |
referred to local government |
Senate Bill S6817
2013-2014 Legislative Session
Sponsored By
(D, WF) 35th Senate District
Archive: Last Bill Status - In Assembly Committee
- 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
co-Sponsors
(D) Senate District
2013-S6817 (ACTIVE) - Details
2013-S6817 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6817 TITLE OF BILL: An act to amend the local finance law, in relation to bond anticipation notes issued during the calendar years 2010 and 2011 PURPOSE OR GENERAL IDEA OF BILL: This legislation extends the rollover period for bond anticipation notes issued during calendar years 2010 and 2011 to not more than seven years beyond the original date of issue. SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill amends subparagraph 2 of paragraph b of Section 23.00 of the Local Finance Law as amended by Chapter 264 of the Laws of 2012 to extend the rollover period from 2007 and 2008 to 2010 and 2011. Section 2 of the bill is the effective date. JUSTIFICATION: Currently, except for bond anticipation notes issued in 2004, 2005, 2007 and 2008, local governments are authorized to extend or roll over bond anticipation notes for only up to 5 years. At the end of the period, the bond anticipation notes must be retired or converted into long-term debt. This legislation, by extending the rollover period for bond anticipation notes issued during calendar years 2010 and 2011, will provide municipalities the option of
2013-S6817 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6817 I N S E N A T E March 13, 2014 ___________ Introduced by Sen. STEWART-COUSINS -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the local finance law, in relation to bond anticipation notes issued during the calendar years 2010 and 2011 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph 2 of paragraph b of section 23.00 of the local finance law, as amended by chapter 264 of the laws of 2012, is amended to read as follows: 2. renewals of bond anticipation notes issued originally during calen- dar year two thousand [seven] TEN or two thousand [eight] ELEVEN may not extend more than seven years beyond the original date of issue of such bond anticipation notes. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14031-01-4
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