Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 17, 2014 |
signed chap.526 |
Dec 05, 2014 |
delivered to governor |
Jun 17, 2014 |
returned to senate passed assembly ordered to third reading rules cal.326 substituted for a9823 |
Jun 11, 2014 |
referred to local governments delivered to assembly passed senate |
Jun 10, 2014 |
ordered to third reading cal.1273 committee discharged and committed to rules |
May 13, 2014 |
referred to local government |
Senate Bill S7352
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C) 7th Senate District
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
2013-S7352 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9823
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd ยง160.05, Loc Fin L
2013-S7352 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7352 TITLE OF BILL: An act to amend the local finance law, in relation to encouraging certain municipalities to adopt multi-year financial plan- ning and providing for the payment of such planning from monies appro- priated to the financial restructuring board for local governments PURPOSE: The purpose of this legislation is to encourage municipalities to under- take multi-year financial planning. This proposal allows municipalities that have elected to engage in multi-year planning with the assistance of an external financial advisor and have been identified as experiencing fiscal stress to be reimbursed from monies appropriated for the making of grants and loans by the Financial Restructuring Board for Local Governments for all or part of the cost incurred for such external financial advisor, in the discretion of the Board. SUMMARY OF PROVISIONS: Section 1 adds a new subparagraph b to paragraph 3 of section 160.05 of the Local Finance Law to provide that, on the request of any county, city, excluding a city with a population greater than one million, town or village, which has elected to engage in multi-year financial planning
2013-S7352 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7352 I N S E N A T E May 13, 2014 ___________ Introduced by Sen. MARTINS -- (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 encouraging certain municipalities to adopt multi-year financial planning and providing for the payment of such planning from monies appropriated to the financial restructuring board for local governments THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 3 of section 160.05 of the local finance law, as added by chapter 67 of the laws of 2013, is amended to read as follows: 3. (A) Upon the request of a fiscally eligible municipality, by resol- ution of the governing body of such municipality with the concurrence of the chief executive of such municipality, the financial restructuring board for local governments may undertake a comprehensive review of the operations, finances, management practices, economic base and any other factors that in its sole discretion it deems relevant to be able to make findings and recommendations on reforming and restructuring the oper- ations of the fiscally eligible municipality. As part of such recommen- dations, the board may propose that such municipality agree to fiscal accountability measures, as determined by the board, including, but not limited to, multi-year financial planning. It may also identify cost- saving measures, recommend consolidation of functions or agencies within such municipality or between such municipality and other municipalities, consistent with existing law, identify and make available, to the extent otherwise permitted by law, grants and loans on such terms and condi- tions as it deems appropriate, and make such other recommendations as the board may deem just and proper but in no event shall the sum of all awards made by the board to a single fiscally eligible municipality be greater than five million dollars. If such award is a loan, it may not be for a term longer than ten years. In the event a grant or loan is made, the board may condition such award on the fiscally eligible muni- cipality submitting a report or reports on such actions taken by the fiscally eligible municipality pursuant to the board's recommendations, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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