Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 30, 2014 |
signed chap.48 delivered to governor |
Jun 10, 2014 |
returned to assembly passed senate 3rd reading cal.315 substituted for s6624 |
Jun 10, 2014 |
substituted by a8853 |
Jun 11, 2014 |
home rule request |
Mar 20, 2014 |
advanced to third reading |
Mar 19, 2014 |
2nd report cal. |
Mar 18, 2014 |
1st report cal.315 |
Feb 19, 2014 |
referred to local government |
Senate Bill S6624
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) 24th Senate District
Archive: Last Bill Status Via A8853 - 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
co-Sponsors
(D) 15th Senate District
(D) Senate District
(D) 22nd Senate District
(D, WF) Senate District
2013-S6624 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8853
- Law Section:
- Municipalities
- Laws Affected:
- Amd ยง2, Chap 130 of 1998
2013-S6624 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6624 TITLE OF BILL: An act to amend chapter 130 of the laws of 1998, amending the general municipal law relating to temporary investments by local governments, in relation to extending the expiration of the provisions thereof SUMMARY OF PROVISIONS: Section two would extend the sunset date of the subdivision 3 of section n of the General Municipal Law to July 1, 2017. Section three sets forth the effective date. JUSTIFICATION: The "Temporary Investments" subdivision of the General Municipal Law, affecting only New York City, sunsets June 30, 2014. This bill would extend the sunset date to July 1, 2017. Under the statute, New York City is permitted to invest in certain low risk, short term obligations, including top quality commercial paper. In an analysis done by New York City Comptroller Scott Stringer's office, New York City could lose around $10 million annually without this extension of the law.
2013-S6624 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6624 I N S E N A T E February 19, 2014 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend chapter 130 of the laws of 1998, amending the general municipal law relating to temporary investments by local governments, in relation to extending the expiration of the provisions thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2 of chapter 130 of the laws of 1998, amending the general municipal law relating to temporary investments by local govern- ments, as amended by chapter 107 of the laws of 2011, is amended to read as follows: S 2. This act shall take effect June 30, 1998 and shall expire and be deemed repealed on July 1, [2014] 2017, provided, however, that invest- ments purchased prior to the expiration of this act pursuant to the provisions of paragraph a of subdivision 3 of section 11 of the general municipal law, as designated and amended by section one of this act, shall continue to be subject to the conditions contained in such subdi- vision to the same extent as they had been subject thereto prior to such expiration and repeal. S 2. This act shall take effect immediately; provided however, if this act shall have become a law after July 1, 2014 it shall be deemed to have been in full force and effect on and after July 1, 2014. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14006-01-4
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