senate Bill S7697A

2017-2018 Legislative Session

Relates to project applications and advisory opinions of the public authorities control board

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate


  • 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 (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 09, 2018 referred to corporations, authorities and commissions
delivered to assembly
passed senate
ordered to third reading cal.1127
committee discharged and committed to rules
Mar 20, 2018 print number 7697a
Mar 20, 2018 amend and recommit to corporations, authorities and commissions
Feb 09, 2018 referred to corporations, authorities and commissions

Co-Sponsors

S7697 - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §51, Pub Auth L
Versions Introduced in 2019-2020 Legislative Session:
S2766

S7697 - Summary

Relates to project applications and advisory opinions of the public authorities control board.

S7697 - Sponsor Memo

S7697 - Bill Text download pdf


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

                                  7697

                            I N  S E N A T E

                            February 9, 2018
                               ___________

Introduced  by  Sen.  DeFRANCISCO -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions

AN ACT to amend the public  authorities  law,  in  relation  to  project
  applications  and  advisory opinions of the public authorities control
  board

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

  Section 1. Subdivisions 2, 3, 3-a, 4 and 5 of section 51 of the public
authorities  law are renumbered subdivisions 6, 7, 7-a, 8 and 9 and four
new subdivisions 2, 3, 4 and 5 are added to read as follows:
  2. ANY APPLICATION MADE CONCERNING A PROPOSED PROJECT INVOLVING A LOAN
SHALL INCLUDE THE TERMS, CONDITIONS AND DATES OF THE REPAYMENT OF  STATE
APPROPRIATIONS  AUTHORIZED  BY LAW PURSUANT TO A REPAYMENT AGREEMENT AND
SHALL INCLUDE A COPY OF THE PROPOSED REPAYMENT AGREEMENT.  IN  ANY  SUCH
APPLICATION  THE  TERMS AND CONDITIONS SHALL INCLUDE, BUT NOT BE LIMITED
TO:
  A. ANY JOB RETENTION OR JOB CREATION REQUIREMENTS AND THE TERMS OF ANY
SUCH REQUIREMENTS, WHERE SUCH LOAN  WOULD  BE  CONDITIONAL  ON  ANY  JOB
RETENTION OR JOB CREATION REQUIREMENTS, A DESCRIPTION OF ANY CONTRACTUAL
CLAWBACK PROVISIONS OR OTHER REMEDIES IN THE EVENT SUCH REQUIREMENTS ARE
NOT MET;
  B. RATE OF INTEREST, FOR FIXED RATE AGREEMENTS;
  C.  ALL  TERMS  NECESSARY TO DETERMINE AND CALCULATE INTEREST FOR NON-
FIXED RATE LOAN AGREEMENTS;
  D. REPAYMENT DATE, OR DATES, AND ASSOCIATED AMOUNTS, FOR THE RETURN OF
LOAN PRINCIPAL;
  E. ANY CONDITIONS OR RESTRICTIONS ASSOCIATED WITH THE LOAN, THE  TERMS
OF  SUCH  CONDITIONS OR RESTRICTIONS, AND ANY CONTRACTUAL REMEDY IF SUCH
CONDITIONS OR RESTRICTIONS IN THE EVENT OF A BREACH OF SUCH TERMS;
  F. ANY SECURITY PROVISION AND A DESCRIPTION OF SUCH PROVISIONS; AND
  G. ANY GUARANTEE ASSOCIATED WITH SUCH LOAN.
  3. ANY APPLICATION MADE CONCERNING  A  PROPOSED  PROJECT  INVOLVING  A
GRANT  SHALL  INCLUDE  THE  TERMS AND CONDITIONS OF STATE APPROPRIATIONS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

S7697A (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §51, Pub Auth L
Versions Introduced in 2019-2020 Legislative Session:
S2766

S7697A (ACTIVE) - Summary

Relates to project applications and advisory opinions of the public authorities control board.

S7697A (ACTIVE) - Sponsor Memo

S7697A (ACTIVE) - Bill Text download pdf


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

                                 7697--A

                            I N  S E N A T E

                            February 9, 2018
                               ___________

Introduced  by  Sens.  DeFRANCISCO,  KRUEGER  --  read twice and ordered
  printed, and when printed to be committed to the Committee  on  Corpo-
  rations,  Authorities  and  Commissions  -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to  amend  the  public  authorities law, in relation to project
  applications and advisory opinions of the public  authorities  control
  board

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

  Section 1. Subdivisions 2, 3, 3-a, 4 and 5 of section 51 of the public
authorities law are renumbered subdivisions 6, 7, 7-a, 8 and 9 and  four
new subdivisions 2, 3, 4 and 5 are added to read as follows:
  2. ANY APPLICATION MADE CONCERNING A PROPOSED PROJECT INVOLVING A LOAN
SHALL INCLUDE, EXPRESSLY AND IN WRITING, THE TERMS, CONDITIONS AND DATES
OF THE REPAYMENT OF STATE APPROPRIATIONS AUTHORIZED BY LAW PURSUANT TO A
REPAYMENT  AGREEMENT  AND SHALL INCLUDE A COPY OF THE PROPOSED REPAYMENT
AGREEMENT. IN ANY SUCH APPLICATION THE TERMS  AND  CONDITIONS,  PROVIDED
EXPRESSLY AND IN WRITING, SHALL INCLUDE, BUT NOT BE LIMITED TO:
  A. ANY JOB RETENTION OR JOB CREATION REQUIREMENTS AND THE TERMS OF ANY
SUCH  REQUIREMENTS,  WHERE  SUCH  LOAN  WOULD  BE CONDITIONAL ON ANY JOB
RETENTION OR JOB CREATION REQUIREMENTS, A DESCRIPTION OF ANY CONTRACTUAL
CLAWBACK PROVISIONS OR OTHER REMEDIES IN THE EVENT SUCH REQUIREMENTS ARE
NOT MET;
  B. RATE OF INTEREST, FOR FIXED RATE AGREEMENTS;
  C. ALL TERMS NECESSARY TO DETERMINE AND CALCULATE  INTEREST  FOR  NON-
FIXED RATE LOAN AGREEMENTS;
  D. REPAYMENT DATE, OR DATES, AND ASSOCIATED AMOUNTS, FOR THE RETURN OF
LOAN PRINCIPAL;
  E.  ANY CONDITIONS OR RESTRICTIONS ASSOCIATED WITH THE LOAN, THE TERMS
OF SUCH CONDITIONS OR RESTRICTIONS, AND ANY CONTRACTUAL REMEDY  IF  SUCH
CONDITIONS OR RESTRICTIONS IN THE EVENT OF A BREACH OF SUCH TERMS;
  F. ANY SECURITY PROVISION AND A DESCRIPTION OF SUCH PROVISIONS; AND
  G. ANY GUARANTEE ASSOCIATED WITH SUCH LOAN.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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.