Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 20, 2011 |
signed chap.212 |
Jul 08, 2011 |
delivered to governor |
Jun 16, 2011 |
returned to senate passed assembly ordered to third reading rules cal.370 substituted for a6444 |
Jun 14, 2011 |
referred to corporations, authorities and commissions delivered to assembly passed senate |
Jun 13, 2011 |
ordered to third reading cal.1171 |
Jun 02, 2011 |
referred to rules |
Senate Bill S5564
Signed By Governor2011-2012 Legislative Session
Sponsored By
There are no sponsors of this bill.
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
Actions
Votes
2011-S5564 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6444
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §383, Pub Auth L
2011-S5564 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5564 TITLE OF BILL: An act to amend the public authorities law, in relation to the powers of the New York state thruway authority to finance certain projects in connection with the canal system including emergency PURPOSE: This bill would increase the Thruway Authority's bond authorization for Canal System purposes from $60 million to $160 million and the Canal System emergency bond authorization from $10 million to $20 million. SUMMARY OF PROVISIONS: Section 1 of this bill would amend Public Authorities Law (PAL) §383(1)(b) to increase the Thruway Authority's bond authorization for Canal System purposes from $60 million to $160 million and would amend PAL § 383(1)(c) to increase the Canal related emergency bond authorization from $10 million to $20 million. Section 2 of the bill would provide for an immediate effective date.
2011-S5564 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5564 2011-2012 Regular Sessions I N S E N A T E June 2, 2011 ___________ Introduced by COMMITTEE ON RULES -- (at request of the Thruway Authori- ty) -- read twice and ordered printed, and when printed to be commit- ted to the Committee on Rules AN ACT to amend the public authorities law, in relation to the powers of the New York state thruway authority to finance certain projects in connection with the canal system including emergency THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 383 of the public authorities law, as added by chapter 766 of the laws of 1992, is amended to read as follows: S 383. Additional powers of the authority to finance certain projects in connection with the New York state canal system. 1. (a) The authori- ty is hereby authorized, as an additional corporate purpose thereof, to issue its bonds, notes and other obligations in conformity with applica- ble provisions of the uniform commercial code for purposes of financing the construction, reconstruction, development and improvement of the New York state canal system. (b) The authority may issue bonds, notes or other obligations pursuant to paragraph (a) of this subdivision in an aggregate principal amount not exceeding ONE HUNDRED sixty million dollars plus a principal amount of bonds, notes or other obligations issued (i) to fund any related debt service reserve fund, (ii) to provide capitalized interest for a period not exceeding six months, except that where the proceeds of such bonds, notes or other obligations are expended on a revenue-producing project, such period shall be that allowable under the United States internal revenue code of nineteen hundred eighty-six, as amended, in order to preserve the exclusion of interest on such bonds, notes or other obli- gations from federal income taxation, and (iii) to provide fees and other charges and expenses, including underwriters' discounts, related to the issuance of such bonds, notes and other obligations and the main- tenance of such reserves, all as determined by the authority, excluding EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09724-01-1
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