senate Bill S2127

2015-2016 Legislative Session

Requires propositions authorizing creation of a state debt to contain an estimate of the debt service payable and publish an explanation thereof

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Elections Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

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.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to elections
Jan 21, 2015 referred to elections

S2127 (ACTIVE) - Details

See Assembly Version of this Bill:
A3045
Current Committee:
Senate Elections
Law Section:
Election Law
Laws Affected:
Add §7-112, amd §4-116, El L; add §6, St Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1762, A10307
2011-2012: S982, A1518
2013-2014: S4541, A6174
2017-2018: S4322
2019-2020: S1525

S2127 (ACTIVE) - Summary

Requires that any ballot proposition creating a state debt shall contain an estimate of the amortization period and the total expected debt service payable thereon until the bonds issued pursuant to such proposition are retired.

S2127 (ACTIVE) - Sponsor Memo

S2127 (ACTIVE) - Bill Text download pdf

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

    S. 2127                                                  A. 3045

                       2015-2016 Regular Sessions

                      S E N A T E - A S S E M B L Y

                            January 21, 2015
                               ___________

IN  SENATE -- Introduced by Sen. FARLEY -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Elections

IN ASSEMBLY -- Introduced by M. of A. TEDISCO,  BARCLAY,  RAIA,  FITZPA-
  TRICK  --  Multi-Sponsored  by  --  M. of A.   BUTLER, McKEVITT, OAKS,
  THIELE -- read once and referred to the Committee on Ways and Means

AN ACT to amend the election law and the state finance law, in  relation
  to  requiring  proposition authorizing the creation of a state debt to
  contain an estimate of the debt service payable thereon and  requiring
  publication of an explanation thereof

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

  Section 1. The election law is amended by adding a new  section  7-112
to read as follows:
  S 7-112. BALLOTS; FORM FOR PROPOSITION; ADDITIONAL REQUIREMENTS.  EACH
DULY  CERTIFIED PROPOSITION CONTAINED ON THE BALLOT AND SUBMITTED TO THE
VOTERS OF THE STATE WHICH PROVIDES FOR THE  CREATION  OF  A  STATE  DEBT
SHALL  CONTAIN AN ESTIMATE OF THE ANTICIPATED NUMBER OF YEARS OVER WHICH
SUCH DEBT SHALL BE AMORTIZED AND THE TOTAL EXPECTED DEBT SERVICE PAYABLE
ON THE PRINCIPAL AMOUNT OF  SUCH  BONDS  UNTIL  THEIR  RETIREMENT.  SUCH
INFORMATION SHALL BE PRINTED IN THE LARGEST TYPE WHICH IS PRACTICABLE TO
USE IN THE SPACE PROVIDED FOR THE PROPOSITION. SUCH INFORMATION SHALL BE
PROVIDED  TO  THE STATE BOARD OF ELECTIONS AND THE SECRETARY OF STATE BY
THE STATE COMPTROLLER NOT LATER THAN SEVEN DAYS AFTER THE PASSAGE OF THE
LAW AUTHORIZING SUCH PROPOSITION.
  S 2. Subdivision 2 of section 4-116 of the election law, as amended by
chapter 60 of the laws of 1993, is amended to read as follows:
  2. The state board of elections shall publish once in the week preced-
ing any election at which proposed constitutional  amendments  or  other
propositions or questions are to be submitted to the voters of the state
an abstract of such amendment or question, INCLUDING THE ESTIMATE OF THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02615-01-5

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.

 

Related Recent Legislation

Related Issues

Explore Issues