|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to corporations, authorities and commissions|
|Jan 29, 2019||referred to corporations, authorities and commissions|
senate Bill S2766
Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2766 (ACTIVE) - Details
S2766 (ACTIVE) - Sponsor Memo
BILL NUMBER: S2766 SPONSOR: COMRIE TITLE OF BILL: An act to amend the public authorities law, in relation to project applications and advisory opinions of the public authorities control board PURPOSE: This bill would amend the project applications and advisory opinions of the public authorities control board. SUMMARY OF PROVISIONS: 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. Section 2 - Sets the effective date.
S2766 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2766 2019-2020 Regular Sessions I N S E N A T E January 29, 2019 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities 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, 8, 9 and 10 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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