Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 07, 2020 |
referred to local governments |
Assembly Bill A11088
2019-2020 Legislative Session
Sponsored By
THIELE
Archive: Last Bill Status - In Assembly Committee
- 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
co-Sponsors
Kimberly Jean-Pierre
Inez E. Dickens
David McDonough
2019-A11088 (ACTIVE) - Details
2019-A11088 (ACTIVE) - Summary
Creates a COVID-19 interim finance authority in relation to restructuring debt; establishes a COVID-19 interim finance authority to issue upon the request of an eligible New York county, village, town or school district bonds, notes or other obligations in one or more series including bonds, notes or other obligations issued to restructure or refinance general obligation debt, to prepay pension amortization, to pay the cost of issuance of such bonds, notes or other obligations, and bonds, notes or other obligations issued to refund or otherwise repay such bonds, notes or other obligations previously issued; makes related provisions.
2019-A11088 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 11088 I N A S S E M B L Y October 7, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Thiele, Jean-Pierre) -- read once and referred to the Committee on Local Governments AN ACT in relation to creating a COVID-19 interim finance authority to restructure debt THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. It is hereby found, determined and declared that there is an immediate need to establish a comprehensive, coordinated approach to address the unexpected and unprecedented effects of the worldwide COVID-19 pandemic on the economies and finances of the counties throughout the state in order to ensure the continuation of basic and essential services to the residents of the state. § 2. A board, to be known as the COVID-19 interim finance authority, is hereby created. Such board shall be a body corporate and politic constituting a public benefit corporation. Such board shall consist of the commissioner of health, the comptroller or one member appointed by him or her who shall serve until his or her successor is appointed, the director of the budget, one member appointed by the temporary president of the senate, one member appointed by the speaker of the assembly, and five members to be appointed by the governor, by and with the advice and consent of the senate, for terms of three years. The governor shall also fill any vacancy which may occur by reason of the death, disqualifica- tion, resignation or removal of any member theretofore appointed. The commissioner of health and the director of the budget each may appoint a person or persons to represent such commissioner or director, respec- tively, at all meetings of such board from which such commissioner or director, as the case may be, may be absent. Any such representative so designated shall have the power to attend and to vote at any meeting of such board from which the officer so designating him or her as a repre- sentative is absent with the same force and effect as if the officer designating him or her were present and voting. The powers of the board shall be vested in and exercised by a majority of the whole number of the members thereof. The members of the board shall serve without EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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