Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 24, 2020 |
signed chap.157 |
Aug 12, 2020 |
delivered to governor |
May 28, 2020 |
returned to assembly passed senate 3rd reading cal.668 substituted for s8417 |
May 28, 2020 |
substituted by a10492 |
May 27, 2020 |
ordered to third reading cal.668 |
May 26, 2020 |
reported and committed to rules |
May 25, 2020 |
referred to finance |
Senate Bill S8417
Signed By Governor2019-2020 Legislative Session
Sponsored By
(D, WF) 28th Senate District
Archive: Last Bill Status Via A10492 - 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
co-Sponsors
(D) 14th Senate District
(D, WF) 47th Senate District
(D, IP, WF) Senate District
(D, WF) Senate District
2019-S8417 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10492
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §23.00, Loc Fin L
2019-S8417 (ACTIVE) - Summary
Relates to bond anticipation notes issued in calendar years 2015 through 2021; authorizes the expenditure and temporary transfer of reserve funds for expenses related to COVID-19; authorizes the extension of repayment of inter-fund advances made for expenses related to COVID-19.
2019-S8417 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8417 SPONSOR: KRUEGER TITLE OF BILL: An act to amend the local finance law, in relation to bond anticipation notes issued in calendar years 2015 through 2021; to authorize the expenditure and temporary transfer of reserve funds for expenses related to COVID-19; and to authorize the extension of repayment of inter-fund advances made for expenses related to COVID-19 PURPOSE: The purpose of this proposed legislation is to address the COVID-19 public health crisis that has increased the financial burdens on local government. This bill would provide financial and budgetary flexibility to local governments as they continue to operate and provide critical services during this difficult time and its aftermath, by: (1) extending the "rollover" period for bond anticipation notes issued in calendar years 2015 through 2021, inclusive;
2019-S8417 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8417 I N S E N A T E May 25, 2020 ___________ Introduced by Sen. KRUEGER -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the local finance law, in relation to bond anticipation notes issued in calendar years 2015 through 2021; to authorize the expenditure and temporary transfer of reserve funds for expenses related to COVID-19; and to authorize the extension of repayment of inter-fund advances made for expenses related to COVID-19 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph 2 of paragraph b of section 23.00 of the local finance law, as amended by chapter 264 of the laws of 2012, is amended to read as follows: 2. renewals of bond anticipation notes issued originally during calen- dar [year two thousand seven or two thousand eight] YEARS TWO THOUSAND FIFTEEN THROUGH TWO THOUSAND TWENTY-ONE, INCLUSIVE may not extend more than seven years beyond the original date of issue of such bond antic- ipation notes. § 2. Notwithstanding any provision of sections 6-c or 6-g of the general municipal law or section 3651 of the education law to the contrary, the governing board of a town, village, county, city, water improvement district, sewer improvement district, fire district or school district, by resolution which shall not be subject to referendum requirements, may authorize expenditures from capital reserve funds for capital costs attributable to the COVID-19 pandemic. § 3. Notwithstanding any provision of the general municipal law, the town law or the education law to the contrary, the governing board of a town, village, county, city, water improvement district, sewer improve- ment district, fire district or school district, by resolution which shall not be subject to referendum requirements, if any, may authorize the temporary transfer of moneys from reserve funds to pay for operating costs or other costs attributable to the COVID-19 pandemic, provided, that the reserve fund from which the funds were temporarily transferred shall be reimbursed from the fund to which the transfer was made over a EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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