Assembly Bill A4060

2011-2012 Legislative Session

Relates to the authorization of debt in times of public emergency

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • 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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2011-A4060 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Constitution, Concurrent Resolutions to Amend
Laws Affected:
Amd Art 7 ยงยง10, 11 & 13, Constn
Versions Introduced in 2009-2010 Legislative Session:
A1777

2011-A4060 (ACTIVE) - Summary

Relates to the authorization of debt in times of public emergency; limits the total amount of state debt; establishes a debt management board; relates to the refunding of state debts.

2011-A4060 (ACTIVE) - Bill Text download pdf

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

                                  4060

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 1, 2011
                               ___________

Introduced  by M. of A. MORELLE, DESTITO, CANESTRARI, REILLY, LUPARDO --
  Multi-Sponsored by -- M. of  A.  BENEDETTO,  BOYLAND,  GALEF,  HEVESI,
  HOYT,  LAVINE,  MAGEE,  MAYERSOHN,  ROBINSON, SWEENEY -- read once and
  referred to the Committee on Ways and Means

            CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY

proposing amendments to article 7 of the constitution,  in  relation  to
  the authorization of debt in times of public emergency, a limit on the
  total  amount  of  state  debt, the establishment of a debt management
  board, and refunding of state debts

  Section 1. Resolved (if the Senate concur), That section 10 of article
7 of the constitution be amended to read as follows:
  S 10. In addition to the above limited power to  contract  debts,  the
state  may contract debts to repel invasion, suppress insurrection, [or]
defend the state in war, [or to suppress forest fires] OR TO RESPOND  TO
ANY  OTHER EMERGENCY STEMMING FROM A DISASTER INCLUDING, BUT NOT LIMITED
TO, A DISASTER CAUSED BY AN ACT OF TERRORISM; but the money arising from
the contracting of such debts shall be applied for the purpose for which
it was raised, or to repay such debts, and to no other purpose whatever.
NO DEBT SHALL BE CONTRACTED PURSUANT TO THIS SECTION WITHOUT THE CONCUR-
RENCE OF THE  GOVERNOR,  THE  COMPTROLLER,  THE  ATTORNEY  GENERAL,  AND
TWO-THIRDS OF THE MEMBERS ELECTED TO EACH BRANCH OF THE LEGISLATURE; AND
THE GOVERNOR SHALL HAVE POWER TO SUMMON THE COMPTROLLER AND THE ATTORNEY
GENERAL  AND  CONVENE  THE  LEGISLATURE IN EXTRAORDINARY SESSION FOR THE
PURPOSE OF CONSIDERING SUCH EMERGENCY DEBT. AT THE TIME, DATE AND  PLACE
APPOINTED  BY  THE  GOVERNOR, NO OTHER SUBJECT SHALL BE ACTED UPON UNTIL
EACH, IN THE FOLLOWING ORDER, HAS GIVEN THEIR APPROVAL OR ANY ONE THERE-
OF HAS GIVEN THEIR DISAPPROVAL OF THE DEBT PROPOSED BY THE  GOVERNOR  TO
ENABLE  THE  STATE TO RESPOND TO SUCH EMERGENCY: THE GOVERNOR, THE COMP-
TROLLER, THE ATTORNEY GENERAL, THE SENATE AND THE ASSEMBLY. THE PROPOSAL
OF SUCH EMERGENCY DEBT SHALL BE IN THE FORM OF A RESOLUTION PREPARED AND
SUBMITTED BY THE GOVERNOR TO THE COMPTROLLER, THE ATTORNEY GENERAL,  THE
SENATE AND THE ASSEMBLY, WHO SHALL APPROVE OR DISAPPROVE SUCH RESOLUTION

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

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