Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 23, 2020 |
referred to corporations, authorities and commissions delivered to assembly passed senate |
Jul 22, 2020 |
ordered to third reading cal.958 |
Jul 20, 2020 |
reported and committed to rules |
Jul 14, 2020 |
committee discharged and committed to corporations, authorities and commissions referred to rules |
Senate Bill S8757
2019-2020 Legislative Session
Sponsored By
(D) 14th Senate District
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
Votes
2019-S8757 (ACTIVE) - Details
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- New York State Medical Care Facilities Finance Agency Act
- Laws Affected:
- Amd §7, NYS Med Care Fac Fin Ag Act
- Versions Introduced in 2021-2022 Legislative Session:
-
S6312
2019-S8757 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8757 SPONSOR: COMRIE TITLE OF BILL: An act to amend the New York state medical care facilities finance agen- cy act, in relation to the ability to issue certain bonds and notes PURPOSE OF THE BILL: This bill would increase the authorization of the Dormitory Authority of the State of New York ("DASNY"), as successor to the New York State Medical Care Facilities Finance Agency ("MCFFA") pursuant to the Health Care Financing Consolidation Act of 1995, to issue hospital and nursing home project bonds and notes from $16.6 billion to $17.4 billion. SUMMERY OF PROVISIONS: Section one of this bill would amend the MCFFA Act to increase DASNY's authorization to issue hospital and nursing home project bonds and notes from $16.6 billion to $17.4 billion.
2019-S8757 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8757 I N S E N A T E July 14, 2020 ___________ Introduced by Sen. COMRIE -- (at request of the Dormitory Authority) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the New York state medical care facilities finance agen- cy act, in relation to the ability to issue certain bonds and notes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 1 of section 7 of section 1 of chapter 392 of the laws of 1973, constituting the New York state medical care facilities finance agency act, as amended by chapter 183 of the laws of 2018, is amended to read as follows: (b) The agency shall not issue hospital and nursing home project bonds and hospital and nursing home project notes in an aggregate principal amount exceeding [sixteen] SEVENTEEN billion [six] FOUR hundred million dollars, excluding hospital and nursing home project bonds and hospital and nursing home project notes issued to refund outstanding hospital and nursing home projects bonds and hospital and nursing home project notes; provided, however, that upon any such refunding or repayment the total aggregate principal amount of outstanding bonds, notes or other obli- gations may be greater than [sixteen] SEVENTEEN billion [six] FOUR hundred million dollars only if the present value of the aggregate debt service of the refunding or repayment bonds, notes or other obligations to be issued shall not exceed the present value of the aggregate debt service of the bonds, notes or other obligations so to be refunded or repaid. For purposes hereof, the present values of the aggregate debt service of the refunding or repayment bonds, notes or other obligations and of the aggregate debt service of the bonds, notes or other obli- gations so refunded or repaid, shall be calculated by utilizing the effective interest rate of the refunding or repayment bonds, notes or other obligations, which shall be that rate arrived at by doubling the semi-annual interest rate (compounded semi-annually) necessary to discount the debt service payments on the refunding or repayment bonds, notes or other obligations from the payment dates thereof to the date of issue of the refunding or repayment bonds, notes or other obligations EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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