senate Bill S4026

2013-2014 Legislative Session

Relates to authorization of debt in times of public emergency; and a limit on state funded debt and refunding of state debts

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate 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 (6)
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

S4026 - Details

See Assembly Version of this Bill:
A7301
Law Section:
Constitution, Concurrent Resolutions to Amend
Laws Affected:
Amd Art 7 §§10, 11, 16 & 2, add §§1-a & 1-b, Constn
Versions Introduced in 2011-2012 Legislative Session:
S6364, A7907

S4026 - Summary

Relates to authorization of debt in times of public emergency; relates to a limit on state funded debt and refunding of state debts.

S4026 - Sponsor Memo

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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