Senate Bill S4546

Signed By Governor

2011-2012 Legislative Session

Extends provisions relating to the issuance of land installment purchase obligations

download bill text pdf

Archive: Last Bill Status - Signed by Governor

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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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 20, 2011	signed chap.200
Jul 08, 2011	delivered to governor
Jun 16, 2011	returned to senate passed assembly ordered to third reading rules cal.307 substituted for a7061a
Jun 13, 2011	referred to ways and means delivered to assembly passed senate
Jun 01, 2011	amended on third reading (t) 4546a
May 24, 2011	advanced to third reading
May 23, 2011	2nd report cal.
May 18, 2011	1st report cal.777
Apr 11, 2011	referred to local government

Votes

- Jun 13, 2011 - Floor Vote
  S4546
  
  Aye
  
  62
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Floor Vote: Jun 13, 2011
      
      aye (62)
      
      Adams
      
      Addabbo Jr.
      
      Alesi
      
      Avella
      
      Ball
      
      Bonacic
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Duane
      
      Espaillat
      
      Farley
      
      Flanagan
      
      Fuschillo
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Grisanti
      
      Hannon
      
      Hassell-Thompson
      
      Huntley
      
      Johnson
      
      Kennedy
      
      Klein
      
      Krueger
      
      Kruger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Libous
      
      Little
      
      Marcellino
      
      Martins
      
      Maziarz
      
      McDonald
      
      Montgomery
      
      Nozzolio
      
      O'Mara
      
      Oppenheimer
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Saland
      
      Sampson
      
      Savino
      
      Serrano
      
      Seward
      
      Skelos
      
      Smith
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Young
      
      Zeldin
  May 18, 2011 - Local Government Committee Vote
  S4546
  
  Aye
  
  8
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Local Government Committee Vote: May 18, 2011
      
      aye (8)
      
      Ball
      
      Klein
      
      Little
      
      Martins
      
      McDonald
      
      Oppenheimer
      
      Ritchie
      
      Stewart-Cousins

Bill Amendments

Original

A (Active)

2011-S4546 - Details

See Assembly Version of this Bill:: A7061
Law Section:: Local Finance Law
Laws Affected:: Amd §3, Chap 626 of 1996

2011-S4546 - Summary

Extends provisions relating to the issuance of land installment purchase obligations.

2011-S4546 - Sponsor Memo

                                BILL NUMBER:S4546

TITLE OF BILL:
An act
to amend chapter 626 of the laws of 1996, amending the local finance
law, relating to the issuance of land installment purchase obligations,
in relation to making such provisions permanent

PURPOSE:
This bill will allow local governments to purchase interests or rights
in land through the use of land installment purchase obligations on a
permanent basis. This technique is especially useful to local
governments in New York State attempting to preserve significant open
space and agricultural resources.

SUMMARY OF PROVISIONS:
Section 3 Chapter 626 of the Laws of 1996, amending the Local Finance
Law, relating to the issuance of land installment purchase
obligations, as amended by chapter 456 of the Laws of 2000, is
amended to remove the July 31, 2011 expiration date and makes
permanent the ability of local governments to purchase interests or
rights in land for the use of land installment purchase obligations.

EXISTING LAW:
Chapter 626 of the Laws of 1996 is set to expire on July 31, 2011.

JUSTIFICATION:
Many local governments in New York have had a long standing interest
in, and involvement with, developing and implementing strategies
designed to protect important agricultural, open space, scenic and
cultural resources. The ability to issue land installment purchase
obligations provides local governments with a cost effective means to
purchase lands for the purpose of open space conservation.
Additionally, land installment purchase obligations give
municipalities a method to offer sellers payments that will avoid
certain taxes, especially burdensome capital gains taxes.

Since the inception of this process, a number of towns across the
state have elected to issue land installment purchase obligations in
order to preserve significant open space and agricultural resources.
Its proven success justifies making the provisions of Chapter 626 of
the Laws of 1996 permanent. This will ensure that local governments
always have an effective tool in protecting important natural
resources at any time a need arises without the constraints of a
specific timeframe.

LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

2011-S4546 - Bill Text download pdf

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

    S. 4546                                                  A. 7061

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             April 11, 2011
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Local Governments

AN ACT to amend chapter 626 of the laws  of  1996,  amending  the  local
  finance  law,  relating  to  the issuance of land installment purchase
  obligations, in relation to making such provisions permanent

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

  Section  1. Section 3 of chapter 626 of the laws of 1996, amending the
local finance law, relating to the issuance of land installment purchase
obligations, as amended by chapter 456 of the laws of 2000,  is  amended
to read as follows:
  S  3. This act shall take effect immediately [and shall expire on July
31, 2011 when upon such date the provisions of this act shall be  deemed
repealed].
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10661-01-1

2011-S4546A (ACTIVE) - Details

See Assembly Version of this Bill:: A7061
Law Section:: Local Finance Law
Laws Affected:: Amd §3, Chap 626 of 1996

2011-S4546A (ACTIVE) - Summary

Extends provisions relating to the issuance of land installment purchase obligations.

2011-S4546A (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S4546A

TITLE OF BILL:
An act
to amend chapter 626 of the laws of 1996, amending the local finance
law, relating to the issuance of land installment purchase obligations,
in relation to extending the
provisions thereof

PURPOSE:
This bill will extend the ability of local governments to purchase
interests or rights in land through the use of land installment
purchase obligations from July 1, 2011 to July 31, 2021. This
technique is especially useful to local governments in New York State
attempting to preserve significant open space and agricultural
resources.

SUMMARY OF PROVISIONS:
Section 3 of Chapter 626 of the Laws of 1996, amending the Local
Finance Law, relating to the issuance of land installment purchase
obligations, as amended by Chapter 456 of the Laws of 2000, is
amended to extend the ability of local governments to purchase
interests or rights in land for the use of land installment purchase
obligations for an additional 10 years.

EXISTING LAW:

Chapter 626 of the Laws of 1996 is currently set to expire on July 31,
2011.

JUSTIFICATION:
Many local governments in New York State have had a long standing
interest in, and involvement with, developing and implementing
strategies designed to protect important agricultural, open space,
scenic and cultural resources.
The ability to issue land installment purchase obligations provides
local governments with a cost effective means to purchase lands for
the purpose of open space conservation. Additionally, land
installment purchase obligations give municipalities a method to
offer sellers payments that will avoid certain taxes, especially
burdensome capital gains taxes.

Since the inception of this process, a number of towns across the
state have elected to issue land installment purchase obligations in
order to preserve significant open space and agricultural resources.
Its proven success justifies extending the current sunset date of
Chapter 626 of the Laws of 1996 from July 31, 2011 to July 31, 2021.
This will ensure that local governments continue to have an effective
toolin protecting important natural resources for an additional
10 years.

LEGISLATIVE HISTORY:
2011: New bill.

FISCAL IMPLICATIONS:
None.


EFFECTIVE DATE:
This act shall take effect immediately.

2011-S4546A (ACTIVE) - Bill Text download pdf

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

    S. 4546--A                                            A. 7061--A
    Cal. No. 777

                       2011-2012 Regular Sessions

                      S E N A T E - A S S E M B L Y

                             April 11, 2011
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment  --  reported favorably from said committee, ordered to first and
  second report,  ordered  to  a  third  reading,  amended  and  ordered
  reprinted, retaining its place in the order of third reading

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Local Governments --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend chapter 626 of the laws  of  1996,  amending  the  local
  finance  law,  relating  to  the issuance of land installment purchase
  obligations, in relation to extending the provisions thereof

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

  Section  1. Section 3 of chapter 626 of the laws of 1996, amending the
local finance law, relating to the issuance of land installment purchase
obligations, as amended by chapter 456 of the laws of 2000,  is  amended
to read as follows:
  S  3.  This act shall take effect immediately and shall expire on July
31, [2011] 2021 when upon such date the provisions of this act shall  be
deemed repealed.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10661-03-1

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Senate Bill S4546

Signed By Governor

Sponsored By

Archive: Last Bill Status - Signed by Governor

Actions

Votes

Jun 13, 2011 - Floor Vote

Floor Vote: Jun 13, 2011

May 18, 2011 - Local Government Committee Vote

Local Government Committee Vote: May 18, 2011

Bill Amendments

2011-S4546 - Details

2011-S4546 - Summary

2011-S4546 - Sponsor Memo

2011-S4546 - Bill Text download pdf

2011-S4546A (ACTIVE) - Details

2011-S4546A (ACTIVE) - Summary

2011-S4546A (ACTIVE) - Sponsor Memo

2011-S4546A (ACTIVE) - Bill Text download pdf

Comments

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Senate Bill S4546

Signed By Governor

Share this bill

Sponsored By

Kenneth P. LaValle

Archive: Last Bill Status - Signed by Governor

Actions

Votes

Bill Amendments

2011-S4546 - Details

2011-S4546 - Summary

2011-S4546 - Sponsor Memo

2011-S4546 - Bill Text download pdf

2011-S4546A (ACTIVE) - Details

2011-S4546A (ACTIVE) - Summary

2011-S4546A (ACTIVE) - Sponsor Memo

2011-S4546A (ACTIVE) - Bill Text download pdf

Comments