Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 10, 2018 |
signed chap.113 |
Jun 28, 2018 |
delivered to governor |
Jun 04, 2018 |
returned to assembly passed senate |
May 30, 2018 |
3rd reading cal.685 substituted for s7856a |
May 30, 2018 |
substituted by a10349 |
Apr 23, 2018 |
amended on third reading 7856a |
Mar 22, 2018 |
advanced to third reading |
Mar 21, 2018 |
2nd report cal. |
Mar 20, 2018 |
1st report cal.685 |
Mar 05, 2018 |
referred to local government |
Senate Bill S7856A
Signed By Governor2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A10349 - 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
Bill Amendments
2017-S7856 - Details
- See Assembly Version of this Bill:
- A10349
- 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
2017-S7856 - Sponsor Memo
BILL NUMBER: S7856 REVISED MEMO 03/14/2018 SPONSOR: MARCHIONE TITLE OF BILL: An act to amend the local finance law and chapter 413 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 prac- tices and mandate relief PURPOSE: This bill would provide municipalities with expanded debt issuance and management options in regard to their borrowing practices. SUMMARY OF PROVISIONS: Section one of the bill would extend, until 2021, 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 antic- ipation of such bonds, whichever is sooner.
2017-S7856 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7856 I N S E N A T E March 5, 2018 ___________ 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 413 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 77 of the laws of 2015, 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 [eighteen] TWENTY-ONE, 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. § 2. Paragraph b of section 53.00 of the local finance law, as amended by chapter 77 of the laws of 2015, is amended to read as follows: b. If such bonds or notes are payable in installments, the install- ments remaining unpaid may be called for redemption only (i) in the inverse order of their maturity or, (ii) in equal proportionate amounts; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
2017-S7856A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10349
- 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
2017-S7856A (ACTIVE) - Sponsor Memo
BILL NUMBER: S7856A SPONSOR: MARCHIONE TITLE OF BILL: An act to amend the local finance law and chapter 413 of the laws of 1991, amending the local finance law and other laws relating to provid- ing relief to local governments for certain mandated programs and services, in relation to local government borrowing practices and mandate relief PURPOSE: This bill would provide municipalities with expanded debt issuance and management options in regard to their borrowing practices. SUMMARY OF PROVISIONS: Section one of the bill would extend, until 2021, 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
2017-S7856A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7856--A Cal. No. 685 I N S E N A T E March 5, 2018 ___________ Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the local finance law and chapter 413 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 77 of the laws of 2015, 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 [eighteen] TWENTY-ONE, 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. § 2. Paragraph b of section 53.00 of the local finance law, as amended by chapter 77 of the laws of 2015, is amended to read as follows:
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