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

                                 3612--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

Introduced by Sens. PANEPINTO, AVELLA -- read twice and ordered printed,
  and  when  printed  to  be committed to the Committee on Environmental
  Conservation -- recommitted to the Committee on Environmental  Conser-
  vation  in  accordance  with  Senate  Rule  6,  sec.  8  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT authorizing the creation of a state debt to the  amount  of  five
  billion  dollars,  in  relation  to  creating  the  clean  water/clean
  air/green jobs bond act of 2016, to provide moneys for  the  preserva-
  tion,  enhancement,  restoration, and improvement of the state's envi-
  ronment, to provide for state assistance payments  for  such  purpose,
  and  providing  for  the  submission to the people of a proposition or
  question therefor to be voted upon at the general election in November
  2016

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

  Section  1.  The  clean water/clean air/green jobs bond act of 2016 is
enacted to read as follows:
            CLEAN WATER/CLEAN AIR/GREEN JOBS BOND ACT OF 2016

Section 1. Short title.
        2. Creation of a state debt.
        3. Bonds of the state.
        4. Use of moneys received.
  S 1.  Short title. This act shall be known and may  be  cited  as  the
"clean water/clean air/green jobs bond act of 2016".
  S  2.  Creation  of  a  state debt. The creation of a state debt to an
amount  not  exceeding   in   the   aggregate   five   billion   dollars
($5,000,000,000)  is  hereby authorized to provide moneys for the single
purpose of preserving, enhancing, restoring, and improving  the  quality
of  the  state's  environment  by the accomplishment of projects and the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00009-02-6
              

S. 3612--A                          2

funding of activities by state agencies, public authorities  and  public
benefit  corporations,  municipalities,  and other governmental entities
and not-for-profit corporations for and related to  protecting,  improv-
ing,  and  enhancing  the  quality  of drinking water and enhancement of
water bodies; by providing funds for open  space,  farmland  protection,
habitat  restoration,  climate  change adaptation, water quality related
research and development and for parks;  for  repairing,  replacing  and
updating  municipal  wastewater  and  drinking water infrastructure; for
preserving, enhancing, restoring and maintaining the quality of the air;
for restoring and improving contaminated areas and  returning  those  to
productive  use;  for improving environmental health; for protection and
pollution prevention projects in urban  communities,  community  gardens
and greenways.
  The  legislature  may,  by appropriate legislation and subject to such
conditions as it may impose, make available out of the proceeds  of  the
sale  of  bonds  authorized  in  this section, moneys disbursed or to be
disbursed for state programs or state  assistance  payments  toward  the
cost  of  such programs undertaken by or through a state or local public
authority or public  benefit  corporation,  not-for-profit  corporation,
county,  city,  town,  village,  school  district, supervisory district,
district corporation, improvement district within a county, city,  town,
village,  or  Indian  tribe residing in whole or in part within New York
state, or any  combination  thereof,  for  the  purpose  of  preserving,
enhancing,  restoring, and improving the quality of the state's environ-
ment and natural resources.
  S 3. Bonds of the state. The state comptroller  is  hereby  authorized
and empowered to issue and sell bonds of the state to the amount of five
billion dollars ($5,000,000,000) for the purpose of this act, subject to
the  provisions  of  article  5  of the state finance law. The aggregate
principal amount of such bonds shall not  exceed  five  billion  dollars
excluding  bonds  issued  to refund or otherwise repay bonds theretofore
issued for such purpose; provided, however, that upon any such refunding
or repayment the total aggregate principal amount of  outstanding  bonds
may  be  greater  than five billion dollars only if the present value of
the aggregate debt service of the refunding or  repayment  bonds  to  be
issued  shall not exceed the present value of the aggregate debt service
of the bonds to be refunded or repaid. The method for calculating  pres-
ent value shall be determined by law.
  S 4. Use of moneys received. The moneys received by the state from the
sale  of  bonds  sold pursuant to this act shall be expended pursuant to
appropriations in the following amount:
  a. For clean water through the protection of  the  state's  watersheds
and  natural  resources;  drinking  water  supply  protection  and flood
control projects, including  the  protection  of  open  space,  farmland
protection,  habitat restoration, flood prevention, climate change adap-
tation, water quality related research and  development,  water  quality
restoration  projects  and  for  state  and municipal parks, two billion
dollars ($2,000,000,000).
  b. For clean water infrastructure including repairing, replacing,  and
updating  New York's municipal wastewater infrastructure, septic systems
and drinking water supply systems, two billion dollars ($2,000,000,000).
  c. For improving  air  quality,  environmental  health  and  community
restoration,  including  the use of green infrastructure, protection and
pollution  prevention  projects  in  urban  communities,  restoring  and
improving  contaminated  areas  and  returning  those to productive use,

S. 3612--A                          3

improving environmental health, community  gardens  and  greenways,  one
billion dollars ($1,000,000,000).
  S  2.  This  act  shall  take  effect  immediately,  provided that the
provisions of section one of this act shall not take effect  unless  and
until  this  act  shall have been submitted to the people at the general
election to be held in November 2016, and shall have been approved by  a
majority  of  all  votes  cast for and against it at such election. Upon
approval by the people, section one of this act shall take effect  imme-
diately.  The  ballots  to  be  furnished  for  the  use  of voters upon
submission of this act shall be in the form prescribed by  the  election
law  and  the  proposition  or question to be submitted shall be printed
thereon in substantially the  following  form,  namely,  "Shall  chapter
(here insert the number of the chapter) of the laws of 2016 known as the
clean  water/clean  air/green  jobs  bond  act  of 2016, authorizing the
creation of state debt to provide moneys for the preservation,  enhance-
ment,  restoration,  and improvement of the quality of the state's envi-
ronment and natural resources,  promote  energy  efficiency  and  energy
security;  and  invest  in  the  creation of clean and green jobs in the
amount of five billion dollars be approved?".