Senate Bill S8803

2021-2022 Legislative Session

Relates to limitations on local indebtedness

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Senate & Assembly


  • 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

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2021-S8803 (ACTIVE) - Details

See Assembly Version of this Bill:
A9988
Law Section:
Constitution, Concurrent Resolutions to Amend
Laws Affected:
Amd Art 8 §4, Constn
Versions Introduced in 2023-2024 Legislative Session:
S5025, A1771

2021-S8803 (ACTIVE) - Summary

Relates to limitations on local indebtedness; removes school districts from those not permitted to contract indebtedness.

2021-S8803 (ACTIVE) - Sponsor Memo

2021-S8803 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8803
 
                             I N  S E N A T E
 
                              April 19, 2022
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
             CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY
 
 proposing an amendment to section 4 of article 8 of the constitution, in
   relation to limitations on local indebtedness
 
   Section 1. Resolved (if the Assembly concur), That section 4 of  arti-
 cle 8 of the constitution be amended to read as follows:
   §  4.  Except  as  otherwise provided in this constitution, no county,
 city, town[,] OR village [or school district] described in this  section
 shall  be  allowed  to  contract  indebtedness for any purpose or in any
 manner which, including existing indebtedness, shall  exceed  an  amount
 equal  to  the  following  percentages  of the average full valuation of
 taxable real estate of such county, city, town[,] OR village [or  school
 district]:
   (a) the county of Nassau, for county purposes, ten per centum;
   (b)  any county, other than the county of Nassau, for county purposes,
 seven per centum;
   (c) the city of New York, for city purposes, ten per centum;
   (d) any city, other than the city of  New  York,  having  one  hundred
 twenty-five thousand or more inhabitants according to the latest federal
 census, for city purposes, nine per centum;
   (e)  any city having less than one hundred twenty-five thousand inhab-
 itants according to  the  latest  federal  census,  for  city  purposes,
 [excluding education purposes,] seven per centum;
   (f) any town, for town purposes, seven per centum; AND
   (g) any village for village purposes, seven per centum[; and
   (h)  any  school district which is coterminous with, or partly within,
 or wholly within, a city having less than one hundred twenty-five  thou-
 sand  inhabitants  according to the latest federal census, for education
 purposes, five per centum; provided, however, that such  limitation  may
 be  increased  in  relation  to  indebtedness  for  specified objects or
 purposes with (1) the approving vote of sixty per centum or more of  the
 duly  qualified  voters  of such school district voting on a proposition
 therefor submitted at a general or special election, (2) the consent  of
 The  Regents  of  the  University  of  the State of New York and (3) the

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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