|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Feb 11, 2014||opinion referred to judiciary|
|Jan 13, 2014||to attorney-general for opinion|
|Jan 08, 2014||referred to judiciary|
|Apr 10, 2013||opinion referred to judiciary|
|Mar 18, 2013||to attorney-general for opinion|
|Mar 05, 2013||referred to judiciary|
senate Bill S4026
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4026 - Details
S4026 - Sponsor Memo
BILL NUMBER:S4026 TITLE OF BILL: CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing amendments to article 7 of the constitution, in relation to authorization of debt in times of public emergency, a limit on the total amount of state-funded debt, the refunding of state debts, providing for the use of conference committees, consensus forecasting and the submission of a capital program and financing plan PURPOSE: This proposed Constitutional amendment allows for emergency borrowing in times of public emergency, prohibits "backdoor borrowing," and limits total State debt to no more than 5 percent of total personal income in the State. SUMMARY OF PROVISIONS: Section 1 of the resolution proposes an amendment of Section 10 of Article 7 of the Constitution to add disasters, including those caused by acts of terrorism, to the existing list of purposes for which debt may be incurred on an emergency basis. Emergency borrowing would, however, require the approval of the Governor, the Comptroller, and a majority of the Senate and a majority of the Assembly The amendment prescribes a procedure for the Governor to propose emergency borrowing and for the Comptroller, the Senate and the Assembly to give their approval or disapproval. Section 2 eliminates "backdoor borrowing" and, effective with State
S4026 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4026 2013-2014 Regular Sessions I N S E N A T E March 5, 2013 ___________ Introduced by Sen. LIBOUS -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing amendments to article 7 of the constitution, in relation to authorization of debt in times of public emergency, a limit on the total amount of state-funded debt, the refunding of state debts, providing for the use of conference committees, consensus forecasting and the submission of a capital program and financing plan Section 1. Resolved (if the Assembly concur), That section 10 of arti- cle 7 of the constitution be amended to read as follows: S 10. In addition to the above limited power to contract debts, the state may contract debts to repel invasion, suppress insurrection, [or] defend the state in war, [or] to suppress forest fires OR TO RESPOND TO ANY OTHER EMERGENCY STEMMING FROM A DISASTER INCLUDING, BUT NOT LIMITED TO, A DISASTER CAUSED BY AN ACT OF TERRORISM; but the money arising from the contracting of such debts shall be applied for the purpose for which it was raised, or to repay such debts, and to no other purpose whatever. NO DEBT SHALL BE CONTRACTED PURSUANT TO THIS SECTION WITHOUT THE CONCUR- RENCE OF THE GOVERNOR, THE COMPTROLLER, AND A MAJORITY OF THE MEMBERS ELECTED TO EACH BRANCH OF THE LEGISLATURE; AND THE GOVERNOR SHALL HAVE POWER TO SUMMON THE COMPTROLLER AND CONVENE THE LEGISLATURE IN EXTRAOR- DINARY SESSION FOR THE PURPOSE OF CONSIDERING SUCH EMERGENCY DEBT. AT THE TIME, DATE AND PLACE APPOINTED BY THE GOVERNOR, NO OTHER SUBJECT SHALL BE ACTED UPON UNTIL EACH, IN THE FOLLOWING ORDER, HAS GIVEN THEIR APPROVAL OR ANY ONE THEREOF HAS GIVEN THEIR DISAPPROVAL OF THE DEBT PROPOSED BY THE GOVERNOR TO ENABLE THE STATE TO RESPOND TO SUCH EMERGEN- CY: THE GOVERNOR, THE COMPTROLLER, THE SENATE AND THE ASSEMBLY. THE PROPOSAL OF SUCH EMERGENCY DEBT SHALL BE IN THE FORM OF A RESOLUTION PREPARED AND SUBMITTED BY THE GOVERNOR TO THE COMPTROLLER, THE SENATE AND THE ASSEMBLY, WHO SHALL APPROVE OR DISAPPROVE SUCH RESOLUTION WITH- OUT ANY CHANGES THERETO; AND IF SUCH RESOLUTION IS APPROVED BY THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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