Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 11, 2020 |
held for consideration in local governments |
Jan 08, 2020 |
referred to local governments |
Mar 19, 2019 |
referred to local governments |
Assembly Bill A6756
2019-2020 Legislative Session
Sponsored By
WALCZYK
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
Joe DeStefano
Brian Manktelow
David McDonough
Michael Montesano
2019-A6756 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7577
- Current Committee:
- Assembly Local Governments
- Law Section:
- Local Finance Law
- Laws Affected:
- Add §58.20, Loc Fin L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
A9270, S6579
2015-2016: A1625, S4142
2017-2018: A2536, S3849
2021-2022: A4416, S2295
2023-2024: A5137, S4284
2019-A6756 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6756 2019-2020 Regular Sessions I N A S S E M B L Y March 19, 2019 ___________ Introduced by M. of A. WALCZYK -- read once and referred to the Commit- tee on Local Governments AN ACT to amend the local finance law, in relation to the establishment of an electronic open auction public bond sale pilot program for muni- cipalities; and providing for the repeal of such provisions upon expi- ration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The local finance law is amended by adding a new section 58.20 to read as follows: § 58.20 ELECTRONIC OPEN AUCTION PUBLIC BOND SALE PILOT PROGRAM; MUNI- CIPALITIES. A. AS USED IN THIS SECTION: 1. "CLOSED AUCTION" MEANS A BOND SALE PROCEDURE THAT DOES NOT ALLOW A BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE STATUS OR RANK OF ITS BIDS PRIOR TO THE CONCLUSION OF THE BID SUBMISSION PERIOD. 2. "MUNICIPALITY" MEANS A COUNTY, CITY, TOWN, VILLAGE OR SCHOOL DISTRICT. 3. "NATIONALLY RECOGNIZED ELECTRONIC SECURITIES BIDDING SERVICE" MEANS A BIDDING SERVICE THAT IS RECOGNIZED NATIONALLY BY THE PREDOMINANT USERS OF ELECTRONIC SECURITIES BIDDING SERVICES AS PROVIDING AN ACCURATE, SECURE AND RELIABLE ON-LINE BIDDING SYSTEM. 4. "OPEN AUCTION" MEANS A BOND SALE PROCEDURE THAT ALLOWS A BIDDER TO RECEIVE INFORMATION WITH RESPECT TO THE STATUS OR RANK OF ITS BIDS PRIOR TO THE CONCLUSION OF THE BID SUBMISSION PERIOD AND IMPROVE ITS BID AS A RESULT OF THE RECEIVED INFORMATION IN ACCORDANCE WITH THE MUNICIPALITY'S NOTICE OF SUCH BOND SALE CIRCULATED IN ACCORDANCE WITH APPLICABLE REQUIREMENTS OF THIS CHAPTER. 5. "PROGRAM" MEANS THE ELECTRONIC OPEN AUCTION PUBLIC BOND SALE PILOT PROGRAM ESTABLISHED PURSUANT TO THIS SECTION. B. THERE IS HEREBY ESTABLISHED AN ELECTRONIC OPEN AUCTION PUBLIC BOND SALE PILOT PROGRAM AUTHORIZING MUNICIPALITIES TO CONDUCT OPEN AUCTION EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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