senate Bill S2392A

2011-2012 Legislative Session

Creates a debt management board; repealer

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Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2012 print number 2392a
amend and recommit to finance
Jan 04, 2012 referred to finance
Jan 19, 2011 referred to finance

S2392 - Details

Law Section:
State Finance Law
Laws Affected:
Rpld & add Art 5-B §§67-a - 67-f, amd §§68-a, 68-c, 97-rrr & 24, St Fin L; amd §§51 & 365, Pub Auth L
Versions Introduced in 2009-2010 Legislative Session:
S521

S2392 - Summary

Creates a debt management board with authority to set a limit on state debt; authorizes the use of surplus moneys to reduce outstanding state debt; limits the amount of state debt that may be incurred; limits the debt of public authorities.

S2392 - Sponsor Memo

S2392 - Bill Text download pdf

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

                                  2392

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 19, 2011
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in relation to the creation of  a
  debt  management  board,  using  surplus  moneys to reduce outstanding
  state funded debt and limiting the amount of state  funded  debt  that
  may  be  incurred; to amend the public authorities law, in relation to
  defining and listing public authorities, limiting the debt  of  public
  authorities,  the  approval by the comptroller of the terms and condi-
  tions of bonds or notes issued by public authorities, the  powers  and
  duties  of  the  public authorities control board, and the issuance of
  bonds and notes of the New York state thruway authority; and to repeal
  article 5-B of the state finance law relating to limitations on state-
  supported debt

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

  Section  1. Article 5-B of the state finance law is REPEALED and a new
article 5-B is added to read as follows:
                               ARTICLE 5-B
                          DEBT MANAGEMENT BOARD
                                   AND
                    LIMITATIONS ON STATE FUNDED DEBT
SECTION 67-A. DEFINITIONS.
        67-B. USE OF SURPLUS MONEYS TO REDUCE OUTSTANDING  STATE  FUNDED
                DEBT.
        67-C. NEW YORK STATE DEBT MANAGEMENT BOARD; CREATION; PROCEDURE.
        67-D. POWERS AND DUTIES OF THE BOARD.
        67-E. COMPTROLLER'S DUTIES WITH RESPECT TO BOARD.
        67-F. LIMITATIONS  ON  STATE  FUNDED DEBT AND STATE DEBT SERVICE
                PAYMENTS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07311-01-1

S. 2392                             2

S2392A (ACTIVE) - Details

Law Section:
State Finance Law
Laws Affected:
Rpld & add Art 5-B §§67-a - 67-f, amd §§68-a, 68-c, 97-rrr & 24, St Fin L; amd §§51 & 365, Pub Auth L
Versions Introduced in 2009-2010 Legislative Session:
S521

S2392A (ACTIVE) - Summary

Creates a debt management board with authority to set a limit on state debt; authorizes the use of surplus moneys to reduce outstanding state debt; limits the amount of state debt that may be incurred; limits the debt of public authorities.

S2392A (ACTIVE) - Sponsor Memo

S2392A (ACTIVE) - Bill Text download pdf

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

                                 2392--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 19, 2011
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance -- recommitted  to
  the  Committee  on Finance in accordance with Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT to amend the state finance law, in relation to the creation of a
  debt management board, using  surplus  moneys  to  reduce  outstanding
  state  funded  debt  and limiting the amount of state funded debt that
  may be incurred; to amend the public authorities law, in  relation  to
  defining  and  listing public authorities, limiting the debt of public
  authorities, the approval by the comptroller of the terms  and  condi-
  tions  of  bonds or notes issued by public authorities, the powers and
  duties of the public authorities control board, and  the  issuance  of
  bonds and notes of the New York state thruway authority; and to repeal
  article 5-B of the state finance law relating to limitations on state-
  supported debt

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

  Section 1. Article 5-B of the state finance law is REPEALED and a  new
article 5-B is added to read as follows:
                               ARTICLE 5-B
                          DEBT MANAGEMENT BOARD
                                   AND
                    LIMITATIONS ON STATE FUNDED DEBT
SECTION 67-A. DEFINITIONS.
        67-B. USE  OF  SURPLUS MONEYS TO REDUCE OUTSTANDING STATE FUNDED
                DEBT.
        67-C. NEW YORK STATE DEBT MANAGEMENT BOARD; CREATION; PROCEDURE.
        67-D. POWERS AND DUTIES OF THE BOARD.
        67-E. COMPTROLLER'S DUTIES WITH RESPECT TO BOARD.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07311-02-2

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