senate Bill S7878

Vetoed By Governor
2013-2014 Legislative Session

Relates to the eligibility for participation in the brownfield cleanup program; appropriation

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Archive: Last Bill Status Via A10135 - Vetoed by Governor


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Dec 29, 2014 tabled
vetoed memo.578
Dec 17, 2014 delivered to governor
Jun 20, 2014 returned to assembly
passed senate
3rd reading cal.1588
substituted for s7878
Jun 20, 2014 substituted by a10135
Jun 18, 2014 ordered to third reading cal.1588
committee discharged and committed to rules
Jun 16, 2014 referred to finance

Votes

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Co-Sponsors

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S7878 - Bill Details

See Assembly Version of this Bill:
A10135
Law Section:
Public Authorities Law
Laws Affected:
Amd Part H §31, Chap 1 of 2003, amd §1285-q, Pub Auth L

S7878 - Bill Texts

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Relates to the eligibility for participation in the brownfield cleanup program; makes appropriation therefor.

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BILL NUMBER:S7878 REVISED MEMO 06/17/2014

TITLE OF BILL: An act to amend part H of chapter 1 of the laws of 2003,
amending the tax law relating to brownfield redevelopment tax credits,
remediated brownfield credit for real property taxes for qualified sites
and environmental remediation insurance credits, in relation to tax
credits for certain sites; to amend the public authorities law, in
relation to the superfund program; and making an appropriation therefor

PURPOSE:

To extend the sunset of the brownfield cleanup program, and to authorize
refinancing of the State Superfund program.

SUMMARY OF SPECIFIC PROVISIONS: This bill would:

*extend the brownfields cleanup program sunset to March 31, 2017;

*authorize refinancing of the State Superfund Program until March 31,
2017; and

*appropriate $100 million to the hazardous waste cleanup account.

JUSTIFICATION:

This bill would extend the December 31, 2015 sunset of the brownfield
cleanup program (BCP) to March 31, 2017. Projects take on average 2.8
years to obtain a certificate of completion, which is required to
receive tax credits. Extending the sunset is necessary to keep the
program going because the sunset has effectively ceased inclusion of new
projects under the BCP. Further, this bill would provide continued fund-
ing to remediate Superfund sites.

PRIOR LEGISLATIVE HISTORY:

New bill.

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

This act shall take effect immediately provided that section three of
this act shall be deemed to have been in full force and effect on and
after April 1, 2014.

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

                                  7878

                            I N  S E N A T E

                              June 16, 2014
                               ___________

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

AN ACT to amend part H of chapter 1 of the laws of  2003,  amending  the
  tax  law  relating to brownfield redevelopment tax credits, remediated
  brownfield credit for real property  taxes  for  qualified  sites  and
  environmental  remediation insurance credits, in relation to tax cred-
  its for certain  sites;  to  amend  the  public  authorities  law,  in
  relation  to the superfund program; and making an appropriation there-
  for

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

  Section  1.  Section  31  of  part H of chapter 1 of the laws of 2003,
amending the tax law relating to brownfield redevelopment  tax  credits,
remediated brownfield credit for real property taxes for qualified sites
and  environmental  remediation insurance credits, as amended by chapter
474 of the laws of 2012, is amended to read as follows:
  S 31. The tax credits allowed under section 21, 22 or 23  of  the  tax
law  and  the corresponding provisions in articles 9, 9-A, 22, 32 and 33
of the tax law, as added by the provisions of sections one through twen-
ty-nine of this act,  shall  not  be  applicable  if  the  [remediation]
certificate OF COMPLETION required to qualify for any of such credits is
issued after [December 31, 2015] MARCH 31, 2017.
  S 2. Subdivision 3 of section 1285-q of the public authorities law, as
added  by  section  6  of  part  I  of chapter 1 of the laws of 2003, is
amended to read as follows:
  3. The maximum amount of bonds that may be issued for the  purpose  of
financing  hazardous  waste site remediation projects authorized by this
section shall not exceed one billion [two] FIVE hundred million  dollars
and  shall  not  exceed one hundred twenty million dollars for appropri-
ations enacted for any state fiscal year, provided that  the  bonds  not
issued for such appropriations may be issued pursuant to reappropriation
in  subsequent  fiscal years. No bonds shall be issued for the repayment
of any new appropriation enacted after March thirty-first, two  thousand
[thirteen]  SEVENTEEN  for  hazardous  waste  site  remediation projects

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15509-05-4

S. 7878                             2

authorized by this section. Amounts authorized  to  be  issued  by  this
section  shall  be  exclusive  of  bonds issued to fund any debt service
reserve funds, pay costs of issuance of such bonds, and bonds  or  notes
issued  to  refund  or otherwise repay bonds or notes previously issued.
Such bonds and notes of the corporation shall  not  be  a  debt  of  the
state,  and  the  state  shall  not be liable thereon, nor shall they be
payable out of any funds other than those appropriated by this state  to
the  corporation  for  debt service and related expenses pursuant to any
service contracts executed pursuant to subdivision one of this  section,
and  such  bonds and notes shall contain on the face thereof a statement
to such effect.
  S 3. The sum of one hundred million dollars ($100,000,000)  is  hereby
appropriated  to the department of environmental conservation out of any
moneys in the state treasury in the capital fund to the  credit  of  the
hazardous  waste  cleanup  account, not otherwise appropriated, and made
immediately available, for the purpose of carrying out the provisions of
this act. Such moneys shall be payable on the audit and warrant  of  the
comptroller  on  vouchers  certified  or approved by the commissioner of
environmental conservation in the manner prescribed by law.
  S 4. This act shall take  effect  immediately  provided  that  section
three  of this act shall be deemed to have been in full force and effect
on and after April 1, 2014.

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