Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2012 |
tabled vetoed memo.151 |
Aug 06, 2012 |
delivered to governor |
Jun 19, 2012 |
returned to assembly passed senate 3rd reading cal.1306 substituted for s6478 |
Jun 19, 2012 |
substituted by a9211 ordered to third reading cal.1306 |
Jun 12, 2012 |
reported and committed to rules |
May 23, 2012 |
reported and committed to finance |
Feb 14, 2012 |
referred to local government |
Senate Bill S6478
Vetoed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A9211 - Vetoed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Vetoed By Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(R, C, IP) Senate District
(R, C) Senate District
(D, WF) Senate District
(R, C, IP, RFM) Senate District
2011-S6478 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9211
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §26.10, Loc Fin L
2011-S6478 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6478 TITLE OF BILL: An act to amend the local finance law, in relation to temporary alternative methods of financing flood relief expenses PURPOSE: This legislation would provide municipalities and school districts with authority to issue serial bonds to finance certain extraordinary expenses of flood relief incurred as a result of flooding in 2011, and would also provide them with additional flexibility in connection with the issuance of budget notes to finance such expenses. SUMMARY OF PROVISIONS: Section one of the bill would update the defi- nition of "extraordinary expenses of flood relief' in paragraph a of section 26.10 of the Local Finance Law to apply to certain expenses incurred before July 1, 2012, for public flood relief projects undertak- en as a result of flooding which occurred during 2011. Section two of the bill would amend paragraph b of section 26.10 to enable municipalities and school districts to finance "extraordinary expenses of flood relief' through the issuance of serial bonds to be repaid over no more than 5 years Section three of this bill states that this act would take effect imme- diately. PRIOR LEGISLATIVE HISTORY: New bill, but similar legislation has been
2011-S6478 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6478 I N S E N A T E February 14, 2012 ___________ Introduced by Sen. BONACIC -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the local finance law, in relation to temporary alterna- tive methods of financing flood relief expenses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph a of section 26.10 of the local finance law, as amended by chapter 157 of the laws of 2006, is amended to read as follows: a. Definitions. 1. With respect to any municipality which has a calen- dar fiscal year which commenced on the first day of January, two thou- sand [five] ELEVEN, the terms "extraordinary expenses [for] OF flood relief" and "such extraordinary expenses", as used in this section, shall mean the expenses incurred BEFORE THE FIRST DAY OF JULY, TWO THOU- SAND TWELVE for flood relief projects involving the public thorough- fares, public places and projects of such municipality [during any or all of the months of such year] UNDERTAKEN AS A RESULT OF FLOODING OCCURRING DURING TWO THOUSAND ELEVEN, in excess of the normal expenses which would have been incurred for such purposes during such [periods] PERIOD as determined by the finance board of such municipality [and also any interest payments on revenue anticipation notes issued in antic- ipation of the receipt of moneys from the state or federal government pursuant to any state or federal disaster relief act]. In making any such determination, the finance board shall not include as a part of such extraordinary expenses the salaries and wages of regular employees, except for overtime work and work on Sundays and holidays. SUCH EXTRAORDINARY EXPENSES MAY ALSO INCLUDE ANY INTEREST PAYMENTS ON REVENUE ANTICIPATION NOTES ISSUED IN ANTICIPATION OF THE RECEIPT OF MONEYS FROM THE STATE OR FEDERAL GOVERNMENT AS A RESULT OF SUCH FLOODING PURSUANT TO ANY STATE OR FEDERAL DISASTER RELIEF ACT. 2. With respect to any municipality or school district which has a fiscal year which commenced in the year two thousand [five] ELEVEN on or after the first day of March in such year, the terms "extraordinary EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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