senate Bill S4395A

2013-2014 Legislative Session

Authorizes telephone and telegraph corporations to issue stocks, bonds or other forms of indebtedness for the purposes of expanding broadband services

download bill text pdf

Sponsored By

Archive: Last Bill Status -


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

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.
Use this box to enter a message to your senator.

Actions

view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to infrastructure and capital investment
Jun 21, 2013 committed to rules
Jun 12, 2013 amended on third reading 4395a
May 06, 2013 advanced to third reading
May 01, 2013 2nd report cal.
Apr 30, 2013 1st report cal.474
Mar 26, 2013 referred to infrastructure and capital investment

Votes

view votes

Apr 30, 2013 - Infrastructure and Capital Investment committee Vote

S4395
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Apr 30, 2013

Co-Sponsors

S4395 - Details

Law Section:
Public Service Law
Laws Affected:
Amd §101, Pub Serv L

S4395 - Summary

Authorizes telephone and telegraph corporations to issue stocks, bonds or other forms of indebtedness for the purposes of expanding broadband services when such corporation is receiving a federal grant or loan therefor.

S4395 - Sponsor Memo

S4395 - Bill Text download pdf

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

                                  4395

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 26, 2013
                               ___________

Introduced by Sen. YOUNG -- (at request of the Legislative Commission on
  Rural  Resources)  -- read twice and ordered printed, and when printed
  to be committed to the Committee on Infrastructure and Capital Invest-
  ment

AN ACT to amend the public service law, in relation to the  issuance  of
  stocks,  bonds  and  other  forms  of  indebtedness for the purpose of
  expanding broadband services

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

  Section  1. Section 101 of the public service law, as amended by chap-
ter 443 of the laws of 2000, is amended to read as follows:
  S 101.  Authority to issue stock, bonds and  other  forms  of  indebt-
edness.    A  telegraph or telephone corporation may, when authorized by
the commission, issue stock, bonds, notes or other evidences of  indebt-
edness  payable  at  periods  of  more than twelve months after the date
thereof, or a receiver of such a corporation, if duly authorized by law,
may issue receiver's certificates, when necessary for the acquisition of
property, the construction, completion, extension or improvement of  its
facilities  or  the improvement or maintenance of its service within the
state, or for the discharge or lawful refunding of its  obligations,  or
reimbursement  of  moneys  actually  expended  from  the income from any
source, within five years next prior to the filing  of  the  application
therefor,  or  for  any  of  such  purposes,  provided, however, that no
authority shall be granted authorizing such issue for  reimbursement  of
moneys  expended  from income for betterments or replacements unless the
applicant shall have kept its accounts and vouchers of such expenditures
in such manner as to enable the commission to ascertain  the  amount  of
moneys  so  expended  and  the purposes for which such expenditures were
made. Stock may be issued to stockholders as a stock  dividend  provided
that  there  shall  have  been secured from the commission authority for
such issuance and for a transfer of surplus  to  capital  in  an  amount

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08868-01-3

Co-Sponsors

S4395A (ACTIVE) - Details

Law Section:
Public Service Law
Laws Affected:
Amd §101, Pub Serv L

S4395A (ACTIVE) - Summary

Authorizes telephone and telegraph corporations to issue stocks, bonds or other forms of indebtedness for the purposes of expanding broadband services when such corporation is receiving a federal grant or loan therefor.

S4395A (ACTIVE) - Sponsor Memo

S4395A (ACTIVE) - Bill Text download pdf

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

                                 4395--A
    Cal. No. 474

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 26, 2013
                               ___________

Introduced by Sens. YOUNG, RITCHIE, VALESKY -- (at request of the Legis-
  lative Commission on Rural Resources) -- read twice and ordered print-
  ed,  and  when printed to be committed to the Committee on Infrastruc-
  ture and Capital Investment -- reported favorably from said committee,
  ordered to first and  second  report,  ordered  to  a  third  reading,
  amended  and  ordered  reprinted,  retaining its place in the order of
  third reading

AN ACT to amend the public service law, in relation to the  issuance  of
  stocks,  bonds  and  other  forms  of  indebtedness for the purpose of
  expanding broadband services

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

  Section  1. Section 101 of the public service law, as amended by chap-
ter 443 of the laws of 2000, is amended to read as follows:
  S 101.  Authority to issue stock, bonds and  other  forms  of  indebt-
edness.    A  telegraph or telephone corporation may, when authorized by
the commission, issue stock, bonds, notes or other evidences of  indebt-
edness  payable  at  periods  of  more than twelve months after the date
thereof, or a receiver of such a corporation, if duly authorized by law,
may issue receiver's certificates, when necessary for the acquisition of
property, the construction, completion, extension or improvement of  its
facilities  or  the improvement or maintenance of its service within the
state, or for the discharge or lawful refunding of its  obligations,  or
reimbursement  of  moneys  actually  expended  from  the income from any
source, within five years next prior to the filing  of  the  application
therefor,  or  for  any  of  such  purposes,  provided, however, that no
authority shall be granted authorizing such issue for  reimbursement  of
moneys  expended  from income for betterments or replacements unless the
applicant shall have kept its accounts and vouchers of such expenditures
in such manner as to enable the commission to ascertain  the  amount  of
moneys  so  expended  and  the purposes for which such expenditures were

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

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.