|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 17, 2021||delivered to governor|
|Jun 08, 2021||returned to assembly|
3rd reading cal.1209
substituted for s6312
|Jun 08, 2021||substituted by a7688|
|May 24, 2021||advanced to third reading|
|May 20, 2021||2nd report cal.|
|May 19, 2021||1st report cal.1209|
|May 04, 2021||reported and committed to finance|
|Apr 21, 2021||referred to corporations, authorities and commissions|
senate Bill S6312
Current Bill Status Via A7688 - Delivered to Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6312 (ACTIVE) - Details
S6312 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6312 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.
S6312 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6312 2021-2022 Regular Sessions I N S E N A T E April 21, 2021 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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