assembly Bill A10492

Signed By Governor
2019-2020 Legislative Session

Relates to bond anticipation notes issued in calendar years 2015 through 2021

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Archive: Last Bill Status - Signed by Governor

  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (15)
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 27, 2020 referred to rules
delivered to senate
passed assembly
ordered to third reading rules cal.44
rules report cal.44
reported
reported referred to rules
May 26, 2020 reported referred to ways and means
May 22, 2020 referred to local governments

Votes

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May 28, 2020 - floor Vote

A10492
61
0
floor
61
Aye
0
Nay
0
Absent
1
Excused
0
Abstained
show floor vote details

Floor Vote: May 28, 2020

aye (61)
excused (1)

Co-Sponsors

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A10492 (ACTIVE) - Details

See Senate Version of this Bill:
S8417
Law Section:
Local Finance Law
Laws Affected:
Amd §23.00, Loc Fin L

A10492 (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.

A10492 (ACTIVE) - Bill Text download pdf 

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10492
 
                           I N  A S S E M B L Y
 
                               May 22, 2020
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Thiele) --
   (at request of the State Comptroller) -- read once and referred to the
   Committee on Local Governments
 
 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