Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 13, 2015 |
signed chap.77 |
Jul 10, 2015 |
delivered to governor |
Jun 11, 2015 |
returned to assembly passed senate substituted for s4954 |
Jun 11, 2015 |
substituted by a6258 |
May 18, 2015 |
advanced to third reading |
May 13, 2015 |
2nd report cal. |
May 12, 2015 |
1st report cal.625 |
Apr 24, 2015 |
referred to local government |
Senate Bill S4954
Signed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A6258 - 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-S4954 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6258
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §§21.00, 53.00, 54.90 & 107.00, Loc Fin L; amd §81, Chap 413 of 1991
2015-S4954 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4954 TITLE OF BILL: An act to amend the local finance law and chapter 419 of the laws of 1991, amending the local finance law and other laws relating to providing relief to local governments for certain mandated programs and services, in relation to local government borrowing practices and mandate relief PURPOSE: This bill would amend the local finance law and chapter 413 of the laws of 1991, by amending the local finance law relating to providing relief to local governments for certain mandated programs and services. SUMMARY OF PROVISIONS: Section one of the bill would extend, until 2018, provisions authorizing municipalities to pay the first installment on an issue of serial bonds two years after the date of issuance of such bonds or two years after the date of the first bond anticipation note or notes issued in anticipation of such bonds, whichever is sooner. Section two extends, until 2018, the authorization to redeem bonds
2015-S4954 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4954 2015-2016 Regular Sessions I N S E N A T E April 24, 2015 ___________ Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the local finance law and chapter 419 of the laws of 1991, amending the local finance law and other laws relating to providing relief to local governments for certain mandated programs and services, in relation to local government borrowing practices and mandate relief THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph b of section 21.00 of the local finance law, as amended by chapter 91 of the laws of 2012, is amended to read as follows: b. Serial bonds shall mature in annual installments. The first installment shall mature not later than eighteen months after the date of such bonds or two years after the date of the first bond anticipation note or notes issued in anticipation of such bonds, whichever is the earlier, provided, however, that until July fifteenth, two thousand [fifteen] EIGHTEEN, the first installment shall mature not later than two years after the date of such bonds or two years after the date of the first bond anticipation note or notes issued in anticipation of such bonds, whichever is the earlier. However, if bond anticipation notes are issued in anticipation of bonds and if a portion of such notes or the renewals thereof are redeemed from a source other than the proceeds of such bonds within two years from the date of the first such note or notes and a further portion thereof shall be so redeemed prior to the termination of each twelve months' period succeeding the date such original portion was so redeemed, the first installment of such bonds may, in the alternative, be made to mature not later than five years from the date of the first such note or notes. S 2. Paragraph b of section 53.00 of the local finance law, as amended by chapter 91 of the laws of 2012, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09182-01-5
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