senate Bill S6632

Relates to rental payments from the NYC water board

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 19 / Feb / 2014
    • REFERRED TO CITIES
  • 04 / Mar / 2014
    • 1ST REPORT CAL.238
  • 05 / Mar / 2014
    • 2ND REPORT CAL.
  • 06 / Mar / 2014
    • ADVANCED TO THIRD READING
  • 20 / Jun / 2014
    • COMMITTED TO RULES

Summary

Relates to rental payments from the NYC water board; requires the general fund of NYC to provide to the local water fund an amount equal to the amount requested by NYC pursuant to the base rental sum of money pursuant to the lease terms; requires fifty percent of these sums shall be used to provide rebates to residential water and sewer accounts and fifty percent to pay principal and interest on certain outstanding debt.

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Bill Details

See Assembly Version of this Bill:
A9228
Versions:
S6632
Legislative Cycle:
2013-2014
Current Committee:
Senate Rules
Law Section:
New York City Administrative Code
Laws Affected:
Add ยง5-511, NYC Ad Cd

Votes

4
0
4
Aye
0
Nay
1
aye with reservations
0
absent
0
excused
0
abstained
show Cities committee vote details
aye wr (1)

Sponsor Memo

BILL NUMBER:S6632

TITLE OF BILL: An act to amend the administrative code of the city of
New York, in relation to rental payments from the New York city water
board

PURPOSE:

To provide rebates to residential water and sewer accounts as well as
paying off outstanding principal and interest on debt issued by the
city of New York before 1985 for capital projects in the water and
sewer system.

SUMMARY OF PROVISIONS:

Section 1 amends the administrative code of New York city by adding
new section 5- 511 to require that the general fund of the City of New
York provide to the local water fund an amount equal to the amount
requested by the City of New York pursuant in the lease agreement
between the City of New York and the New York City Water Board and
requires that fifty percent of such a payment be used to provide
rebates to residential water and sewer account and the other fifty
percent be used to ameliorate outstanding debt issued by the City of
New York before 1985 for capital projects pertaining to water and
sewer systems, when such debt is paid of the full amount shall be used
in the form of residential rebates.

Section 2 provides that this act shall take effect immediately.

JUSTIFICATION:

Currently, there is outstanding debt issued by the city of New York
prior to 1985 for capital projects in the water and sewer system that
has not currently been paid off. Because of the accumulation of
principal and interest from this outstanding debt, the general fund
must pay to the New York City Water Board. Half the sum is to be used
for residential water and sewer rebates and the other half to be used
to pay down debt, when such debt is paid, the sum shall be used to
provide tax rebates to residential water and sewer accounts.

LEGISLATIVE HISTORY:

New Bill

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

This act shall take effect immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6632

                            I N  S E N A T E

                            February 19, 2014
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation to rental payments from the New York city water board

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The administrative code of the city of New York is  amended
by adding a new section 5-511 to read as follows:
  S  5-511 RENTAL PAYMENTS FROM THE NEW YORK CITY WATER BOARD.  NOTWITH-
STANDING ANY REQUEST OF THE CITY OF NEW YORK FOR A RENTAL  PAYMENT  FROM
THE  NEW YORK CITY WATER BOARD ESTABLISHED PURSUANT TO SECTION ONE THOU-
SAND FORTY-SIX OF THE PUBLIC AUTHORITIES LAW, THE GENERAL  FUND  OF  THE
CITY  OF  NEW  YORK  SHALL  PROVIDE TO THE LOCAL WATER FUND, ESTABLISHED
PURSUANT TO SUBDIVISION TWO OF SECTION ONE THOUSAND FORTY-FIVE-J OF  THE
PUBLIC  AUTHORITIES  LAW AND THE LEASE AGREEMENT BETWEEN THE CITY OF NEW
YORK AND THE NEW YORK CITY WATER BOARD, AN AMOUNT EQUAL  TO  THE  AMOUNT
REQUESTED  BY  THE  CITY  OF NEW YORK PURSUANT TO THE BASE RENTAL SUM OF
MONEY PURSUANT TO THE TERMS OF SUCH LEASE. FIFTY PERCENT OF SUCH SUMS OF
MONIES SHALL BE USED TO PROVIDE REBATES ACROSS THE BOARD TO  RESIDENTIAL
WATER AND SEWER ACCOUNTS AND FIFTY PERCENT TO PAY PRINCIPAL AND INTEREST
ON  OUTSTANDING  DEBT  ISSUED  BY  THE  CITY OF NEW YORK BEFORE NINETEEN
HUNDRED EIGHTY-FIVE FOR CAPITAL PROJECTS IN THE WATER AND SEWER  SYSTEM,
UNTIL  SUCH  DEBT  IS  PAID, WHEREUPON SUCH SUM SHALL BE USED TO PROVIDE
REBATES ACROSS THE BOARD TO RESIDENTIAL WATER AND SEWER ACCOUNTS.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14041-01-4

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