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Senate Bill S2671

2013-2014 Legislative Session

Excludes housing for students at state university of New York institutions from the definition of the term "state-supported debt"

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Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

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2013-S2671 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Amd ยง67-a, St Fin L

2013-S2671 (ACTIVE) - Summary

Excludes housing for students at state university of New York institutions from the definition of the term "state-supported debt".

2013-S2671 (ACTIVE) - Sponsor Memo

2013-S2671 (ACTIVE) - Bill Text download pdf 

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

                                  2671

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 23, 2013
                               ___________

Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in relation to excluding  housing
  for  students  at  state  university of New York institutions from the
  definition of state-supported debt

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

  Section  1. Subdivision 1 of section 67-a of the state finance law, as
added by chapter 59 of the laws of 2000, is amended to read as follows:
  1. "State-supported debt" shall mean any  bonds  or  notes,  including
bonds  or  notes  issued  to  fund  reserve funds and costs of issuance,
issued by the state or a state public corporation for which the state is
constitutionally obligated to pay debt service or is contractually obli-
gated to pay debt service subject to an appropriation, except where  the
state  has a contingent contractual obligation.  PROVIDED, HOWEVER, THAT
STATE-SUPPORTED DEBT SHALL NOT INCLUDE BONDS  AND  NOTES  ISSUED  FOR  A
HOUSING  UNIT FOR THE USE OF STUDENTS AT A STATE-OPERATED INSTITUTION OR
STATUTORY OR CONTRACT  COLLEGE  UNDER  THE  JURISDICTION  OF  THE  STATE
UNIVERSITY OF NEW YORK.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08233-01-3

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