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Assembly Bill A11358

2025-2026 Legislative Session

Extends provisions of law relating to temporary investments by local governments

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Current Bill Status - In Senate Committee Rules Committee

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2025-A11358 (ACTIVE) - Details

See Senate Version of this Bill:
S10432
Current Committee:
Senate Rules
Law Section:
General Municipal
Laws Affected:
Amd §2, Chap 130 of 1998
Versions Introduced in 2023-2024 Legislative Session:
A7400, S6122

2025-A11358 (ACTIVE) - Summary

Extends provisions of law relating to temporary investments by local governments.

2025-A11358 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   11358
 
                           I N  A S S E M B L Y
 
                               May 13, 2026
                                ___________
 
 Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Ramos) --
   read once and referred to the Committee on Cities
 
 AN ACT to  amend chapter 130 of the laws of 1998, amending  the  general
   municipal law relating to temporary investments by local  governments,
   in relation to extending the expiration of the provisions thereof

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 2 of chapter 130 of the laws of 1998, amending  the
 general municipal law relating to temporary investments by local govern-
 ments,   as amended by of chapter 162 of the laws of 2023, is amended to
 read as follows:
   § 2. This act shall take effect June 30, 1998 and shall expire and  be
 deemed  repealed on July 1, [2026] 2029, provided, however, that invest-
 ments purchased prior to the expiration of  this  act  pursuant  to  the
 provisions  of paragraph a of subdivision 3 of section 11 of the general
 municipal law, as designated and amended by section  one  of  this  act,
 shall  continue to be subject to the conditions contained in such subdi-
 vision to the same extent as they had been subject thereto prior to such
 expiration and repeal.
   § 2. This act shall take effect immediately; provided however, that if
 this act shall have become a law after July 1, 2026 it shall  be  deemed
 to have been in full force and effect on and after July 1, 2026.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14500-01-6

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