Assembly Bill A4035

2019-2020 Legislative Session

Limits New York City water board's authority to increase rates charged

download bill text pdf

Sponsored By

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

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2019-A4035 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §1045-j, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11167
2011-2012: A2672
2013-2014: A906
2015-2016: A3351
2017-2018: A5416
2021-2022: A9205
2023-2024: A965

2019-A4035 (ACTIVE) - Summary

Limits New York City water board's authority to increase rates charged by no more than 5% annually or current rate of inflation, whichever is greater.

2019-A4035 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4035
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 31, 2019
                                ___________
 
 Introduced  by  M. of A. WEPRIN -- Multi-Sponsored by -- M. of A. BRAUN-
   STEIN, CUSICK, M. G. MILLER -- read once and referred to the Committee
   on Corporations, Authorities and Commissions
 
 AN ACT to amend the public authorities law, in relation to increases  in
   fees,  rates,  rents or other charges established by 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.  Subdivision 1 of section 1045-j of the public authorities
 law, as added by chapter 513 of the laws of 1984, is amended to read  as
 follows:
   1. The water board shall establish, fix and revise, from time to time,
 fees,  rates,  rents  or  other  charges  for  the  use  of, or services
 furnished, rendered or made available by, the sewerage system  or  water
 system,  or  both, as the case may be, owned by the water board pursuant
 to this title in such amount  at least sufficient at all times so as  to
 provide  funds  in  an  amount  sufficient  together with other revenues
 available to the board, if any, (i) to pay to the authority, in  accord-
 ance with any agreement with the authority, an amount sufficient for the
 purpose  of  paying the principal of and the interest on the outstanding
 notes or bonds of the authority as the same shall become due and payable
 and maintaining or funding a capital or debt service reserve fund there-
 for and, to the extent requested by the city in,  or  annually  pursuant
 to,  the agreement to pay to the city, in accordance with the agreement,
 an amount sufficient for the purpose of  paying  the  principal  of  and
 interest  on general obligation bonds thereof issued for or allocable to
 the water system or sewerage system or both, as the case may be, as  the
 same  shall  become  due  and  payable, and to maintain or fund reserves
 therefor, (ii) to pay to the city, in accordance with the agreement,  an
 amount  sufficient for the purpose of paying the costs of administering,
 maintaining, repairing and operating and the cost of constructing  capi-

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

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