NY State Senate Bill 2017-S812

Archive: Last Bill Status - In Senate Committee Cities 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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to cities
Jan 05, 2017	referred to cities

2017-S812 (ACTIVE) - Details

Current Committee:: Senate Cities
Law Section:: New York City Administrative Code
Laws Affected:: Add §5-511, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:: 2013-2014: S6632
2015-2016: S1453

2017-S812 (ACTIVE) - 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.

2017-S812 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S812

 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 of this bill amends the Administrative Code of the City of New
York 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 :

2016: S.1453 - Reported to Finance
2015: S.1453 - Referred to Cities
2014: S.6632 - 3rd Reading Calendar

 FISCAL IMPLICATIONS :

To be determined

 EFFECTIVE DATE :
This act shall take effect immediately.

2017-S812 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    812
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2017
                                ___________
 
 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:
   §  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.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05063-01-7

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Senate Bill S812

Sponsored By

Archive: Last Bill Status - In Senate Committee Cities Committee

2017-S812 (ACTIVE) - Details

2017-S812 (ACTIVE) - Summary

2017-S812 (ACTIVE) - Sponsor Memo

2017-S812 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S812

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Sponsored By

Martin J. Golden

Archive: Last Bill Status - In Senate Committee Cities Committee

2017-S812 (ACTIVE) - Details

2017-S812 (ACTIVE) - Summary

2017-S812 (ACTIVE) - Sponsor Memo

2017-S812 (ACTIVE) - Bill Text download pdf

Comments