Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 28, 2016 |
signed chap.470 |
Nov 16, 2016 |
delivered to governor |
Jun 17, 2016 |
returned to assembly passed senate 3rd reading cal.1362 substituted for s7895 |
Jun 15, 2016 |
referred to rules |
Jun 14, 2016 |
delivered to senate passed assembly ordered to third reading rules cal.257 rules report cal.257 reported |
Jun 08, 2016 |
reported referred to rules reported referred to ways and means |
Jun 03, 2016 |
referred to housing |
Assembly Bill A10562
Signed By Governor2015-2016 Legislative Session
Sponsored By
WRIGHT
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2015-A10562 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7895
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §656, Priv Hous Fin L
2015-A10562 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10562 I N A S S E M B L Y June 3, 2016 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Wright) -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to increas- ing the bonding authority of the New York city housing development corporation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph c of subdivision 1 of section 656 of the private housing finance law, as amended by chapter 284 of the laws of 2013, is amended to read as follows: c. No bonds or notes of the corporation shall be issued if upon such issuance the aggregate principal amount of bonds and notes of the corpo- ration then outstanding exceeds the lesser of [eleven] TWELVE billion [two hundred fifty] FIVE HUNDRED million dollars or such amount as would cause the maximum capital reserve fund requirement to exceed eighty-five million dollars; provided that, in determining such aggregate principal amounts there shall be deducted (i) all sums then available for the payment of such bonds or notes either at maturity or through the opera- tion of a sinking fund; (ii) the aggregate principal amount of outstand- ing bonds issued (a) to refund notes and (b) to refund bonds, thereto- fore issued and then outstanding; and (iii) the aggregate principal amount of outstanding notes issued to renew notes theretofore issued and then outstanding. The provisions of the prior sentence notwithstanding, the corporation shall not issue bonds if such issuance shall cause the maximum reserve fund requirement to exceed thirty million dollars unless prior to such issuance the senate and assembly shall have adopted a concurrent resolution passed by the votes of a majority of all the members elected to each such house and, subsequent thereto, the governor shall evidence in writing the governor's agreement with such resolution to the chairperson of the corporation, which resolution shall be in full force and effect on the date of issuance of the bonds, permitting the maximum capital reserve fund requirement to equal or exceed the amount of the maximum capital reserve fund requirement which would be effective upon the issuance of the bonds in question, but in no event shall the maximum capital reserve fund requirement exceed eighty-five million dollars. S 2. This act shall take effect immediately.
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