Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 22, 2013 |
signed chap.422 |
Oct 11, 2013 |
delivered to governor |
Jun 17, 2013 |
returned to assembly passed senate 3rd reading cal.1388 substituted for s4726 |
Jun 17, 2013 |
substituted by a5550 ordered to third reading cal.1388 |
Apr 19, 2013 |
referred to rules |
Senate Bill S4726
Signed By Governor2013-2014 Legislative Session
Sponsored By
There are no sponsors of this bill.
Archive: Last Bill Status Via A5550 - 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
2013-S4726 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5550
- Law Section:
- Municipalities
2013-S4726 (ACTIVE) - Summary
Authorizes the expenditure and temporary transfer of reserve funds for the expenses related to the storm commonly known as Sandy; authorizes such transfers for both capital costs and operating costs; provides a timetable for reimbursement of funds transferred for operating costs.
2013-S4726 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4726 TITLE OF BILL: An act authorizing the expenditure and temporary transfer of reserve funds for expenses related to the storm commonly known as Sandy PURPOSE: The bill allows local governments and school districts impacted by the storm commonly known as Sandy to expend and temporarily transfer reserve funds for Sandy-related expenses, notwithstanding certain restrictions contained in sections of the General Municipal Law and Education Law. SUMMARY OF PROVISIONS: Section one of the bill would authorize local governments and school districts to expend moneys from capital reserve funds for capital costs attributable to the storm commonly known as Sandy, without the referendum requirements that would otherwise apply. Section two of the bill would authorize local governments and school districts to temporarily transfer moneys from any reserve fund to pay for operating, costs attributable to Sandy. The moneys that are transferred must be reimbursed from the fund into which they were transferred back into the reserve fund over a period of not more than five years. At least twenty percent of the moneys must be reimbursed
2013-S4726 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4726 2013-2014 Regular Sessions I N S E N A T E April 19, 2013 ___________ Introduced by COMMITTEE ON RULES -- (at request of the State Comp- troller) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT authorizing the expenditure and temporary transfer of reserve funds for expenses related to the storm commonly known as Sandy THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any provision of section 6-c or 6-g of the general municipal law or section 3651 of the education law to the contrary, the governing board of a town, village, county, city, water improvement district, sewer improvement district, fire district or school district, by resolution which shall not be subject to referendum requirements, may authorize expenditures from capital reserve funds for capital costs attributable to the storm commonly known as Sandy. S 2. Notwithstanding any provision of the general municipal law, the town law or the education law to the contrary, the governing board of a town, village, county, city, water improvement district, sewer improve- ment district, fire district or school district, by resolution which shall not be subject to referendum requirements, if any, may authorize the temporary transfer of moneys from reserve funds to pay for operating costs attributable to the storm commonly known as Sandy, provided, that the reserve fund from which the funds were temporarily transferred shall be reimbursed from the fund to which the transfer was made over a period of not more than five fiscal years, starting with the fiscal year following the transfer. At least twenty percent of the moneys temporar- ily transferred shall be reimbursed each fiscal year. Such reimburse- ment shall include an additional amount reasonably estimated to be the amount that would have been earned on the investment of the transferred moneys had they been retained in the capital reserve fund. S 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05510-01-3
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