Do you support this bill?

Assembly Bill A4305

2009-2010 Legislative Session

Provides that city school districts with less than 125,000 inhabitants may exclude certain indebtedness in ascertaining their power to contract indebtedness

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

co-Sponsors

multi-Sponsors

2009-A4305 (ACTIVE) - Details

Current Committee:
Assembly Education
Law Section:
Local Finance Law
Laws Affected:
Amd ยงยง121.20, 121.30 & 137.00, Loc Fin L

2009-A4305 (ACTIVE) - Summary

Provides that city school districts with less than one hundred twenty-five thousand inhabitants may exclude certain indebtedness in ascertaining their power to contract indebtedness.

2009-A4305 (ACTIVE) - Bill Text download pdf 

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

                                  4305

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 3, 2009
                               ___________

Introduced  by M. of A. CANESTRARI, McENENY, LIFTON, PAULIN, DelMONTE --
  Multi-Sponsored by -- M. of A. BRADLEY, BRENNAN, GLICK, MAGEE,  WRIGHT
  -- read once and referred to the Committee on Education

AN  ACT  to amend the local finance law, in relation to the exclusion of
  certain indebtedness of certain city school districts

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

  Section  1.  Section  121.20  of  the local finance law, as amended by
chapter 506 of the laws of 1964, paragraph b as amended by  chapter  116
of the laws of 1968, is amended to read as follows:
  S  121.20[.]  Exclusion  of  certain  indebtedness of school districts
other than school districts in a city WITH ONE HUNDRED TWENTY-FIVE THOU-
SAND INHABITANTS OR MORE ACCORDING  TO  THE  LATEST  FEDERAL  CENSUS  in
ascertaining  their  power to contract indebtedness.  a. As used in this
section:
  1. The term "indebtedness" shall mean indebtedness evidenced by  bonds
and bond anticipation notes.
  2.  The term "school district" shall mean a school district other than
a school district in a city WITH ONE HUNDRED TWENTY-FIVE THOUSAND INHAB-
ITANTS OR MORE ACCORDING TO THE LATEST FEDERAL CENSUS.
  b. In ascertaining the power of a school district to contract  indebt-
edness,  there  may  be excluded outstanding indebtedness contracted, or
indebtedness to be contracted, for objects or purposes having periods of
probable usefulness provided in paragraph [a.] A  of  section  11.00  of
this  chapter,  to the extent to which the commissioner of education, or
such person or persons as may be designated by him, shall estimate based
upon facts existing on the date of such estimate that moneys  receivable
by  the  school  district  from  the  state as an apportionment for debt
service for school building purposes, under laws existing on the date of
such estimate, shall meet the interest on and  the  annual  requirements
for  the  payment of such indebtedness. Any such estimate shall describe

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02598-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.