Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 24, 2022 |
referred to ways and means delivered to assembly passed senate |
Apr 27, 2022 |
advanced to third reading |
Apr 26, 2022 |
2nd report cal. |
Apr 25, 2022 |
1st report cal.783 |
Mar 09, 2022 |
referred to local government |
Senate Bill S8525
2021-2022 Legislative Session
Sponsored By
(D) 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
2021-S8525 (ACTIVE) - Details
2021-S8525 (ACTIVE) - Summary
Removes the requirement that where a municipal corporation, school district or district corporation issues indebtedness to finance certain costs of preparation of plans and specifications for a proposed capital improvement there must be a waiting period of at least one year authorizing the undertaking of the capital improvement.
2021-S8525 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8525 SPONSOR: GAUGHRAN TITLE OF BILL: An act to amend the general municipal law, in relation to removing the requirement that where a municipal corporation, school district or district corporation issues indebtedness to finance the cost of prepara- tion of plans and specifications for a proposed capital improvement, there must be a waiting period of at least one year before authorizing the undertaking of the capital improvement PURPOSE: This legislation would grant more flexibility to local governments as it would allow them to undertake the financing of a capital project more quickly by eliminating the requirement that when the capital planning costs are financed the project must wait at least one year before obtaining formal authorization to start. SUMMARY OF PROVISIONS:
2021-S8525 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8525 I N S E N A T E March 9, 2022 ___________ Introduced by Sen. GAUGHRAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to removing the requirement that where a municipal corporation, school district or district corporation issues indebtedness to finance the cost of prepa- ration of plans and specifications for a proposed capital improvement, there must be a waiting period of at least one year before authorizing the undertaking of the capital improvement THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 2, 3 and 4 of section 99-d of the general municipal law, subdivision 2 as amended by chapter 889 of the laws of 1981, subdivisions 3 and 4 as added by chapter 735 of the laws of 1960, are amended to read as follows: 2. [Where the cost of such advance planning of a capital improvement is financed by the issuance of bonds or capital notes and where the period of probable usefulness specified by subdivision sixty-two of paragraph a of section 11.00 of the local finance law is applicable, the municipal corporation, school district or district corporation shall not have power to authorize the undertaking of the capital improvement until at least one year after the original issuance of such obligations; provided, however, that when bond anticipation notes shall have been issued prior to such bonds, such one year period shall be computed from the date of such bond anticipation notes. 3.] The total amount of bonds or capital notes which may be authorized in any fiscal year of the municipal corporation, school district or district corporation to finance such advance planning pursuant to this section shall not exceed the maximum amount of budget notes which it may issue in such year pursuant to subdivision two or subdivision three of paragraph a of section 29.00 of the local finance law, as the case may be, provided, however, that for the purposes of this subdivision, amounts which are to be paid in the first instance from improvement district assessments shall be included in computing "the amount of the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14835-01-2
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.