assembly Bill A6174

2013-2014 Legislative Session

Requires propositions authorizing creation of a state debt to contain an estimate of the debt service payable and publish an explanation thereof

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to ways and means
Mar 15, 2013 referred to ways and means

Co-Sponsors

Multi-Sponsors

A6174 (ACTIVE) - Details

See Senate Version of this Bill:
S4541
Law Section:
Election Law
Laws Affected:
Add §7-112, amd §4-116, El L; add §6, St Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10307, S1762
2011-2012: A1518, S982
2015-2016: A3045, S2127
2017-2018: S4322
2019-2020: S1525

A6174 (ACTIVE) - Summary

Requires that any ballot proposition creating a state debt shall contain an estimate of the amortization period and the total expected debt service payable thereon until the bonds issued pursuant to such proposition are retired.

A6174 (ACTIVE) - Bill Text download pdf

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

                                  6174

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             March 15, 2013
                               ___________

Introduced  by  M.  of  A. TEDISCO, BARCLAY, RAIA, FITZPATRICK -- Multi-
  Sponsored by -- M. of A.  BUTLER, McKEVITT, OAKS, THIELE -- read  once
  and referred to the Committee on Ways and Means

AN  ACT to amend the election law and the state finance law, in relation
  to requiring proposition authorizing the creation of a state  debt  to
  contain  an estimate of the debt service payable thereon and requiring
  publication of an explanation thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The election law is amended by adding a new section 7-112
to read as follows:
  S 7-112. BALLOTS; FORM FOR PROPOSITION; ADDITIONAL REQUIREMENTS.  EACH
DULY CERTIFIED PROPOSITION CONTAINED ON THE BALLOT AND SUBMITTED TO  THE
VOTERS  OF  THE  STATE  WHICH  PROVIDES FOR THE CREATION OF A STATE DEBT
SHALL CONTAIN AN ESTIMATE OF THE ANTICIPATED NUMBER OF YEARS OVER  WHICH
SUCH DEBT SHALL BE AMORTIZED AND THE TOTAL EXPECTED DEBT SERVICE PAYABLE
ON  THE  PRINCIPAL  AMOUNT  OF  SUCH  BONDS UNTIL THEIR RETIREMENT. SUCH
INFORMATION SHALL BE PRINTED IN THE LARGEST TYPE WHICH IS PRACTICABLE TO
USE IN THE SPACE PROVIDED FOR THE PROPOSITION. SUCH INFORMATION SHALL BE
PROVIDED TO THE STATE BOARD OF ELECTIONS AND THE SECRETARY OF  STATE  BY
THE STATE COMPTROLLER NOT LATER THAN SEVEN DAYS AFTER THE PASSAGE OF THE
LAW AUTHORIZING SUCH PROPOSITION.
  S 2. Subdivision 2 of section 4-116 of the election law, as amended by
chapter 60 of the laws of 1993, is amended to read as follows:
  2. The state board of elections shall publish once in the week preced-
ing  any  election  at which proposed constitutional amendments or other
propositions or questions are to be submitted to the voters of the state
an abstract of such amendment or question, INCLUDING THE ESTIMATE OF THE
AMORTIZATION PERIOD AND THE TOTAL ANTICIPATED  DEBT  SERVICE  WHERE  THE
PROPOSITION  AUTHORIZES  THE CREATION OF A STATE DEBT, a brief statement
of the law or proceedings authorizing such submission, a statement  that

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07452-01-3