|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Apr 04, 2016||referred to libraries and education technology|
delivered to assembly
|Mar 16, 2016||advanced to third reading|
|Mar 15, 2016||2nd report cal.|
|Mar 14, 2016||1st report cal.366|
|Feb 03, 2016||referred to corporations, authorities and commissions|
senate Bill S6651
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6651 (ACTIVE) - Details
S6651 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6651 TITLE OF BILL : An act to amend the public authorities law, in relation to the construction and financing of facilities by the dormitory authority for the New York Library Association; and providing for the repeal of such provisions upon expiration thereof SUMMARY OF PROVISIONS : This legislation would amend Sections 1676 and 1680 of the Public Authorities Law to authorize the NY Dormitory Authority to provide its financing and construction services to the non-profit member libraries of the NYLA. Eligible projects may not exceed $5 million each. JUSTIFICATION : This legislation would allow the New York Library Association to bundle together small bonding projects of less than $5 million per library and to submit them jointly to the Dormitory Authority for financing. The Dormitory Authority would be able to pool the individual loans together to achieve a sufficient size to make low cost tax-exempt bond financing available to these libraries. These projects could also benefit from the construction expertise available through the Dormitory Authority's construction service. Many libraries have projects that range in cost from several hundred
S6651 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6651 I N S E N A T E February 3, 2016 ___________ Introduced by Sen. FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to the construction and financing of facilities by the dormitory authority for the New York Library Association; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 2 of section 1676 of the public authorities law is amended by adding a new undesignated paragraph to read as follows: THE NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC. FOR THE ACQUISITION, FINANCING, CONSTRUCTION, RECONSTRUCTION, RENOVATION, DEVELOPMENT, IMPROVEMENT, EXPANSION AND EQUIPPING OF LIBRARY FACILITIES. S 2. Subdivision 1 of section 1680 of the public authorities law is amended by adding two new undesignated paragraphs to read as follows: THE NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC. FOR THE ACQUISITION, FINANCING, REFINANCING, CONSTRUCTION, RECONSTRUCTION, RENOVATION, DEVELOPMENT, IMPROVEMENT, EXPANSION AND EQUIPPING OF LIBRARY FACILITIES IN THE STATE OF NEW YORK. THE PRINCIPAL AMOUNT OF BONDS ISSUED BY THE DORMITORY AUTHORITY FOR THE COSTS OF EACH PROJECT AUTHOR- IZED HEREUNDER SHALL NOT EXCEED FIVE MILLION DOLLARS, EXCEPT FOR BONDS ISSUED TO REFUND OR REFINANCE BONDS PREVIOUSLY ISSUED FOR SUCH PROJECTS. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, EACH OF THE NON-PROFIT MEMBERS OF THE NEW YORK LIBRARY ASSOCIATION, INC. SUBJECT TO THE PROVISIONS OF THIS CHAPTER, INCLUDING ASSOCIATION AND PUBLIC LIBRARIES AS DEFINED IN SECTION TWO HUNDRED FIFTY-THREE OF THE EDUCATION LAW, SHALL HAVE FULL POWER AND AUTHORITY TO ASSIGN AND PLEDGE TO THE DORMITO- RY AUTHORITY, ANY AND ALL PUBLIC FUNDS TO BE APPORTIONED OR OTHERWISE MADE PAYABLE BY THE STATE, A POLITICAL SUBDIVISION, AS DEFINED IN SECTION ONE HUNDRED OF THE GENERAL MUNICIPAL LAW, OR ANY LIBRARY DISTRICT IN THE STATE IN AN AMOUNT SUFFICIENT TO MAKE ALL PAYMENTS REQUIRED TO BE MADE PURSUANT TO ANY LEASE, SUBLEASE OR OTHER AGREEMENT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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