Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2022 |
signed chap.546 |
Aug 05, 2022 |
delivered to governor |
Jun 01, 2022 |
returned to senate passed assembly |
May 24, 2022 |
ordered to third reading rules cal.391 substituted for a10228 |
May 24, 2022 |
substituted by s9297 |
May 23, 2022 |
ordered to third reading rules cal.391 rules report cal.391 reported |
May 17, 2022 |
reported referred to rules |
May 11, 2022 |
reported referred to ways and means |
May 09, 2022 |
referred to housing |
Assembly Bill A10228
Signed By Governor2021-2022 Legislative Session
Sponsored By
ANDERSON
Archive: Last Bill Status Via S9297 - 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
2021-A10228 (ACTIVE) - Details
- See Senate Version of this Bill:
- S9297
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §656, Priv Hous Fin L
2021-A10228 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10228 I N A S S E M B L Y May 9, 2022 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Anderson) -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to increas- ing the bonding authority of the New York city housing development corporation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph c of subdivision 1 of section 656 of the private housing finance law, as amended by chapter 598 of the laws of 2021, is amended to read as follows: c. No bonds or notes of the corporation shall be issued if upon such issuance the aggregate principal amount of bonds and notes of the corpo- ration then outstanding exceeds the lesser of [seventeen] EIGHTEEN billion dollars or such amount as would cause the maximum capital reserve fund requirement to exceed eighty-five million dollars; provided that, in determining such aggregate principal amounts there shall be deducted (i) all sums then available for the payment of such bonds or notes either at maturity or through the operation of a sinking fund; (ii) the aggregate principal amount of outstanding bonds issued (a) to refund notes and (b) to refund bonds, theretofore issued and then outstanding; and (iii) the aggregate principal amount of outstanding notes issued to renew notes theretofore issued and then outstanding. The provisions of the prior sentence notwithstanding, the corporation shall not issue bonds if such issuance shall cause the maximum reserve fund requirement to exceed thirty million dollars unless prior to such issu- ance the senate and assembly shall have adopted a concurrent resolution passed by the votes of a majority of all the members elected to each such house and, subsequent thereto, the governor shall evidence in writ- ing the governor's agreement with such resolution to the chairperson of the corporation, which resolution shall be in full force and effect on the date of issuance of the bonds, permitting the maximum capital reserve fund requirement to equal or exceed the amount of the maximum capital reserve fund requirement which would be effective upon the issu- ance of the bonds in question, but in no event shall the maximum capital reserve fund requirement exceed eighty-five million dollars. § 2. This act shall take effect immediately.
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.