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Assembly Bill A2690

2025-2026 Legislative Session

Adds intergovernmental loans to the definition of state-supported debt

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Current Bill Status - In Assembly Committee

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2025-A2690 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd §67-a, St Fin L

2025-A2690 (ACTIVE) - Summary

Includes intergovernmental loans as a form of state-supported debt.

2025-A2690 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2690
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2025
                                ___________
 
 Introduced  by M. of A. RA -- read once and referred to the Committee on
   Ways and Means
 
 AN ACT to amend the state finance law, in relation to  including  inter-
   governmental loans as a form of state-supported debt
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 1 of section 67-a of the state finance law,  as
 added by chapter 59 of the laws of 2000, is amended to read as follows:
   1.  "State-supported  debt"  shall  mean  any INTERGOVERNMENTAL LOANS,
 bonds or notes, including bonds or notes issued to  fund  reserve  funds
 and costs of issuance, issued by the state or a state public corporation
 for which the state is constitutionally obligated to pay debt service or
 is  contractually  obligated to pay debt service subject to an appropri-
 ation, except where the state has a contingent contractual obligation.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05915-01-5

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