senate Bill S4099A

2011-2012 Legislative Session

Creates the state infrastructure bank

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Archive: Last Bill Status - In Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 30, 2012 print number 4099a
amend (t) and recommit to banks
Jan 04, 2012 referred to banks
Mar 17, 2011 referred to banks

Bill Amendments

Original
A (Active)
Original
A (Active)

S4099 - Details

Current Committee:
Law Section:
Transportation Law
Laws Affected:
Add Art 24 §§500 - 523, Transp L; add §§99-u & 99-v, St Fin L

S4099 - Summary

Creates the state infrastructure bank.

S4099 - Sponsor Memo

S4099 - Bill Text download pdf

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

                                  4099

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 17, 2011
                               ___________

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

AN ACT to amend the banking law, in relation to creating a state infras-
  tructure bank

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

  Section  1.  The  banking law is amended by adding a new article 17 to
read as follows:
                              ARTICLE XVII
                        STATE INFRASTRUCTURE BANK
SECTION 9100. CREATION.
        9101. BOARD OF DIRECTORS.
        9102. FUNCTIONS AND DUTIES OF THE BOARD OF DIRECTORS.
        9103. AUTHORITY OF THE BANK.
        9104. SUBSTANCE OF BONDS.
        9105. FINANCING FOR ECONOMIC DEVELOPMENT FACILITIES.
        9106. TAX EXEMPTION.
        9107. PLEDGE OF STATE.
        9108. FEES.
        9109. REPORT.
        9110. APPLICATION FOR BANK FINANCING.
        9111. MANDATORY RESOLUTION.
        9112. ISSUANCE OF BONDS.
        9113. AUTHORIZED FINANCING OF BONDS.
        9114. BOND RESOLUTIONS.
        9115. PURCHASE OF BONDS BY THE BANK.
        9116. TRUST AGREEMENT.
        9117. LIABILITY OF THE STATE.
        9118. REFUNDING BONDS.
        9119. SECURITY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10317-01-1

S4099A (ACTIVE) - Details

Current Committee:
Law Section:
Transportation Law
Laws Affected:
Add Art 24 §§500 - 523, Transp L; add §§99-u & 99-v, St Fin L

S4099A (ACTIVE) - Summary

Creates the state infrastructure bank.

S4099A (ACTIVE) - Sponsor Memo

S4099A (ACTIVE) - Bill Text download pdf

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

                                 4099--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 17, 2011
                               ___________

Introduced  by  Sen.  SMITH  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks  --  recommitted  to
  the  Committee  on  Banks  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 transportation law, in relation to creating a state
  infrastructure and economic development bank; and to amend  the  state
  finance  law,  in  relation to establishing the New York state infras-
  tructure and economic development bank fund and  the  New  York  state
  infrastructure guarantee trust fund

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

  Section 1. The transportation law is amended by adding a  new  article
24 to read as follows:
                              ARTICLE XXIV
           STATE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK
SECTION 500. DEFINITIONS.
        501. CREATION  OF THE STATE INFRASTRUCTURE AND ECONOMIC DEVELOP-
               MENT BANK.
        502. BOARD OF DIRECTORS.
        503. DUTIES OF EXECUTIVE DIRECTOR.
        504. DUTIES OF THE BOARD OF DIRECTORS.
        505. INSURANCE OR REINSURANCE.
        506. BONDS.
        507. INDEBTEDNESS OF BANK.
        508. TAX EXEMPTION.
        509. STATE'S PLEDGE AND UNDERTAKING.
        510. REPORTS.
        511. CRITERIA,  PRIORITIES  AND  GUIDELINES  FOR  SELECTION   OF
               PROJECTS.
        512. MANDATORY RESOLUTION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10317-03-2

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