Senate Bill S5088

Signed By Governor
2017-2018 Legislative Session

Extends the expiration of certain provisions of law relating to temporary investments by local governments

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A6663 - 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

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2017-S5088 (ACTIVE) - Details

See Assembly Version of this Bill:
A6663
Law Section:
Municipalities
Laws Affected:
Amd §2, Chap 130 of 1998

2017-S5088 (ACTIVE) - Summary

Extends the expiration of certain provisions of law relating to temporary investments by local governments.

2017-S5088 (ACTIVE) - Sponsor Memo

2017-S5088 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5088
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               March 7, 2017
                                ___________
 
 Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend chapter 130 of the laws of 1998,  amending  the  general
   municipal  law relating to temporary investments by local governments,
   in relation to extending the expiration of the provisions thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 2 of chapter 130 of the laws of 1998, amending the
 general municipal law relating to temporary investments by local govern-
 ments, as amended by chapter 48 of the laws of 2014, is amended to  read
 as follows:
   §  2. This act shall take effect June 30, 1998 and shall expire and be
 deemed repealed on July 1, [2017] 2020, provided, however, that  invest-
 ments  purchased  prior  to  the  expiration of this act pursuant to the
 provisions of paragraph a of subdivision 3 of section 11 of the  general
 municipal  law,  as  designated  and amended by section one of this act,
 shall continue to be subject to the conditions contained in such  subdi-
 vision to the same extent as they had been subject thereto prior to such
 expiration and repeal.
   §  2.  This  act shall take effect immediately; provided however, that
 if this act shall have become a law after  July  1,  2017  it  shall  be
 deemed to have been in full force and effect on and after July 1, 2017.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10482-01-7

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