Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 07, 2014 |
referred to local governments |
Assembly Bill A9270
2013-2014 Legislative Session
Sponsored By
PAULIN
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
Actions
co-Sponsors
Thomas Abinanti
Sandy Galef
Steven Otis
Earlene Hooper
multi-Sponsors
Steve Katz
Michelle Schimel
Fred Thiele
2013-A9270 (ACTIVE) - Details
- See Senate Version of this Bill:
- S6579
- Current Committee:
- Assembly Local Governments
- Law Section:
- Local Finance Law
- Laws Affected:
- Add ยง58.20, Loc Fin L
- Versions Introduced in Other Legislative Sessions:
-
2015-2016:
A1625, S4142
2017-2018: A2536, S3849
2019-2020: A6756, S7577
2021-2022: A4416, S2295
2023-2024: A5137, S4284
2013-A9270 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9270 I N A S S E M B L Y April 7, 2014 ___________ Introduced by M. of A. PAULIN, ABINANTI, GALEF, OTIS -- Multi-Sponsored by -- M. of A. SCHIMEL, THIELE -- read once and referred to the Committee on Local Governments AN ACT to amend the local finance law, in relation to the establishment of an electronic open auction public bond sale pilot program for muni- cipalities; and providing for the repeal of such provisions upon expi- ration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The local finance law is amended by adding a new section 58.20 to read as follows: S 58.20 ELECTRONIC OPEN AUCTION PUBLIC BOND SALE PILOT PROGRAM; MUNI- CIPALITIES. A. AS USED IN THIS SECTION: 1. "CLOSED AUCTION" MEANS A BOND SALE PROCEDURE THAT DOES NOT ALLOW A BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE STATUS OR RANK OF ITS BIDS PRIOR TO THE CONCLUSION OF THE BID SUBMISSION PERIOD. 2. "MUNICIPALITY" MEANS A COUNTY, CITY, TOWN, VILLAGE OR SCHOOL DISTRICT. 3. "NATIONALLY RECOGNIZED ELECTRONIC SECURITIES BIDDING SERVICE" MEANS A BIDDING SERVICE THAT IS RECOGNIZED NATIONALLY BY THE PREDOMINANT USERS OF ELECTRONIC SECURITIES BIDDING SERVICES AS PROVIDING AN ACCURATE, SECURE AND RELIABLE ON-LINE BIDDING SYSTEM. 4. "OPEN AUCTION" MEANS A BOND SALE PROCEDURE THAT ALLOWS A BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE STATUS OR RANK OF ITS BIDS PRIOR TO THE CONCLUSION OF THE BID SUBMISSION PERIOD AND IMPROVE ITS BID AS A RESULT OF THE RECEIVED INFORMATION IN ACCORDANCE WITH THE MUNICIPALITY'S NOTICE OF SUCH BOND SALE CIRCULATED IN ACCORDANCE WITH APPLICABLE REQUIREMENTS OF THIS CHAPTER. 5. "PROGRAM" MEANS THE ELECTRONIC OPEN AUCTION PUBLIC BOND SALE PILOT PROGRAM ESTABLISHED PURSUANT TO THIS SECTION. B. THERE IS HEREBY ESTABLISHED AN ELECTRONIC OPEN AUCTION PUBLIC BOND SALE PILOT PROGRAM AUTHORIZING MUNICIPALITIES TO CONDUCT OPEN AUCTION PUBLIC BOND SALES THROUGH ANY NATIONALLY RECOGNIZED ELECTRONIC SECURI- TIES BIDDING SERVICE. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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