senate Bill S7584A

Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing

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Bill Status


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

  • 15 / May / 2014
    • REFERRED TO LOCAL GOVERNMENT
  • 03 / Jun / 2014
    • 1ST REPORT CAL.1173
  • 09 / Jun / 2014
    • AMENDED 7584A
  • 09 / Jun / 2014
    • 2ND REPORT CAL.
  • 10 / Jun / 2014
    • ADVANCED TO THIRD READING
  • 17 / Jun / 2014
    • PASSED SENATE
  • 17 / Jun / 2014
    • DELIVERED TO ASSEMBLY
  • 17 / Jun / 2014
    • REFERRED TO LOCAL GOVERNMENTS

Summary

Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing.

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Bill Details

See Assembly Version of this Bill:
A10052
Versions:
S7584
S7584A
Legislative Cycle:
2013-2014
Current Committee:
Law Section:
Local Finance Law
Laws Affected:
Amd ยง11.00, Loc Fin L

Sponsor Memo

BILL NUMBER:S7584A

TITLE OF BILL: An act to amend the local finance law, in relation to
the period of probable usefulness of boiler systems

PURPOSE:

Provides that the period of probable usefulness of the installation or
reconstruction of a boiler system is 15 years for purposes of local
financing.

SUMMARY OF PROVISIONS:

Section 1 amends subdivision 13 of paragraph (a) of section 11.00 of the
local finance law to specify that the period of probable usefulness of
the installation or reconstruction of a boiler system in a building is
fifteen years.

Section 2 contains the effective date.

EXISTING LAW:

Section 11.00 of the local finance law provides for a ten year period
for a heating, lighting, plumbing, ventilating elevator or power plant
or system for class "A" or "B" building and five years for a class "C"
building.

JUSTIFICATION:

Municipalities across the state are looking to undertake new biomass
heating projects in their buildings but are limited to a ten year bond
due to their expected useful life under current law. However, the useful
life of heating systems under the local finance law does not accurately
reflect the actual useful life of these systems. According to a publi-
cation of the New York State Division of Housing and Community Renewal,
the useful life for boilers is between twenty-five to thirty-five years,
depending on the type of material used for the boiler. The useful life
of a furnace is approximately fifteen years and because the local
finance law does not differentiate between furnace and boiler heating
systems, local governments cannot bond for a period longer than ten
years for a new or replacement boiler. This bill aims to correct the
actual useful life of these systems.

LEGISLATIVE HISTORY:

New Bill

FISCAL IMPLICATIONS:

None to the state

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
________________________________________________________________________

                                 7584--A
    Cal. No. 1173

                            I N  S E N A T E

                              May 15, 2014
                               ___________

Introduced  by  Sen.  LITTLE -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  reported  favorably  from  said  committee,  ordered  to first report,
  amended on first report,  ordered  to  a  second  report  and  ordered
  reprinted, retaining its place in the order of second report

AN  ACT  to  amend  the  local finance law, in relation to the period of
  probable usefulness of boiler systems

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

  Section 1. Subdivision 13 of paragraph a of section 11.00 of the local
finance  law,  as amended by chapter 837 of the laws of 1945, is amended
to read as follows:
  13. Certain building alterations. The installation  or  reconstruction
of  a  heating, lighting, plumbing, ventilating, elevator or power plant
or system in a  building  when  not  in  connection  with  the  original
construction  or  the reconstruction of such building, in a class "A" or
"B" building, ten years; in a class "C" building, five years. The  terms
"class  'A' building," "class 'B' building" and "class 'C' building," as
used in  this  subdivision,  shall  mean  such  buildings  as  they  are
described  in  subdivision  eleven of this paragraph. PROVIDED, HOWEVER,
THAT THE INSTALLATION OR RECONSTRUCTION OF A BOILER SYSTEM IN  A  BUILD-
ING,  REGARDLESS  OF  THE CLASS THEREOF, WHEN NOT IN CONNECTION WITH THE
ORIGINAL CONSTRUCTION OR RECONSTRUCTION OF SUCH BUILDING, FIFTEEN YEARS.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15064-02-4

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