NY State Senate Bill 2019-S8422

Senate Bill S8422

2019-2020 Legislative Session

Relates to expenses and the extension of repayment of inter-fund advances related to state disaster emergency declared pursuant to executive order 202 of 2020

download bill text pdf

Archive: Last Bill Status - In Senate Committee Rules 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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 26, 2020	referred to rules

2019-S8422 (ACTIVE) - Details

See Assembly Version of this Bill:: A10524
Current Committee:: Senate Rules
Law Section:: Local Finance Law
Laws Affected:: Amd Title, §§2-4, Chap of 2020 (as proposed in S. 8417 & A. 10492)

2019-S8422 (ACTIVE) - Summary

Relates to expenses related to the state disaster emergency declared pursuant to executive order 202 of 2020; authorizes the extension of repayment of inter-fund advances made for expenses related to the state disaster emergency declared pursuant to executive order 202 of 2020.

2019-S8422 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S8422

SPONSOR: KRUEGER
 
TITLE OF BILL:

An act to amend a chapter of the laws of 2020 amending the local finance
law relating to bond anticipation notes issued in calendar years 2015
through 2021, as proposed in legislative bills numbers S. 8417 and A.
10492, in relation to expenditures and temporary transfer of reserve
funds for expenses related to state disaster emergency declared pursuant
to executive order 202 of 2020 and authorizing the extension of repay-
ment of inter-fund advances made for expenses related to state disaster
emergency declared pursuant to executive order 202 of 2020

 
PURPOSE:

The purpose of this bill is to make technical changes to a chapter of
the laws of 2020, Assembly bill number A. 10492 and Senate bill number
S. 8417.

 
SUMMARY OF PROVISIONS:

Section one makes technical changes of the title of a chapter of the
laws of 2020, Assembly bill number A. 10492 and Senate bill number S.
8417.

Section 2 makes technical changes to clarify that the period described
in the bill as the "COVID-19 pandemic" refers to the State disaster
emergency declared by Executive Order 202 of 2020.

Section 3 would require that the temporary transfer of funds by munici-
palities or special districts, including fire districts and school
districts be used to pay for operating or other costs attributable to
the State disaster emergency declaration related to COVID-19.

Section 4 makes technical changes to clarify that the "COVID-19 pandem-
ic" refers to the COVID-19 State disaster emergency declaration.

Section 5 establishes the effective date.

 
JUSTIFICATION:

This bill is necessary to define the period in which this bill is
intended to provide relief for, which is the time following the declara-
tion of the COVID19 related State disaster emergency of 2020.  Flexibil-
ity in municipal financing for municipalities and special districts,
including fire and school districts, is beneficial to help local govern-
ments recover from the effects of the COVID-19 pandemic.  This bill
provides needed technical amendments of Assembly bill number A. 10492
and Senate bill number S. 8417, a chapter of the laws of 2020.

 
PRIOR LEGISLATIVE HISTORY:

New Bill.

 
FISCAL IMPLICATIONS FOR STATE:

None.

 
EFFECTIVE DATE:
This act shall take effect on the same date and in the same manner as a
Chapter of the Laws of 2020.

2019-S8422 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8422
 
                             I N  S E N A T E
 
                               May 26, 2020
                                ___________
 
 Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend a chapter of the laws of 2020 amending the local finance
   law relating to bond anticipation notes issued in calendar years  2015
   through  2021, as proposed in legislative bills numbers S. 8417 and A.
   10492, in relation to expenditures and temporary transfer  of  reserve
   funds for expenses related to state disaster emergency declared pursu-
   ant  to  executive  order 202 of 2020 and authorizing the extension of
   repayment of inter-fund advances made for expenses  related  to  state
   disaster emergency declared pursuant to executive order 202 of 2020
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The title of a chapter of the laws  of  2020  amending  the
 local finance law relating to bond anticipation notes issued in calendar
 years 2015 through 2021, as proposed in legislative bills number S. 8417
 and A. 10492, is amended to read as follows:
   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] THE STATE DISASTER EMERGENCY DECLARED PURSUANT  TO  EXECUTIVE  ORDER
 202  OF  2020; and to authorize the extension of repayment of inter-fund
 advances made for expenses related  to  [COVID-19]  THE  STATE  DISASTER
 EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER 202 OF 2020
   §  2.  Section  2  of a chapter of the laws of 2020 amending the local
 finance law relating to bond anticipation notes issued in calendar years
 2015 through 2021, as proposed in legislative bills numbers S. 8417  and
 A. 10492, is amended to read as follows:
   §  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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD16492-05-0

 S. 8422                             2
 
 capital  costs  attributable  to  the [COVID-19 pandemic] STATE DISASTER
 EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER 202 OF 2020.
   §  3.  Section  3  of a chapter of the laws of 2020 amending the local
 finance law relating to bond anticipation notes issued in calendar years
 2015 through 2021, as proposed in legislative bills numbers S. 8417  and
 A. 10492, is amended to read as follows:
   §  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 ATTRIBUTABLE TO THE STATE DISASTER EMERGENCY DECLARED PURSUANT  TO
 EXECUTIVE ORDER 202 OF 2020 or other costs attributable to the [COVID-19
 pandemic]  STATE DISASTER EMERGENCY DECLARED PURSUANT TO EXECUTIVE ORDER
 202 OF 2020, 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 period of not  more  than  five  fiscal  years,
 starting  with  the  fiscal year following the transfer. At least twenty
 percent of the moneys temporarily transferred shall be  reimbursed  each
 fiscal  year.  Such  reimbursement  shall  include  an additional amount
 reasonably estimated to be the amount that would have been earned on the
 investment of the transferred moneys had they been retained in the capi-
 tal reserve fund.
   § 4. Section 4 of a chapter of the laws of  2020  amending  the  local
 finance law relating to bond anticipation notes issued in calendar years
 2015  through 2021, as proposed in legislative bills numbers S. 8417 and
 A. 10492, is amended to read as follows:
   § 4. Notwithstanding the provisions of subdivision 3 of section 9-a of
 the general municipal law, for inter-fund advances made pursuant to such
 subdivision for costs attributable  to  the  [COVID-19  pandemic]  STATE
 DISASTER  EMERGENCY  DECLARED  PURSUANT  TO EXECUTIVE ORDER 202 OF 2020,
 repayment of moneys to the fund from which they were advanced  shall  be
 made  by  close  of  the  fiscal year next succeeding the fiscal year in
 which such advance was made.
   § 5. This act shall take effect on the  same  date  and  in  the  same
 manner  as  a chapter of the laws of 2020 amending the local finance law
 relating to bond  anticipation  notes  issued  in  calendar  years  2015
 through  2021,  as  proposed in legislative bills numbers S. 8417 and A.
 10492, takes effect.

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