Assembly Bill A5842

2025-2026 Legislative Session

Establishes the New York state infrastructure bank

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Current Bill Status - In Assembly Committee


  • 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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2025-A5842 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§300 - 311, St Fin L

2025-A5842 (ACTIVE) - Summary

Establishes the New York state infrastructure bank to monitor and oversee infrastructure projects in the state, and to award financial assistance for such projects in the form of bonds.

2025-A5842 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5842
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 24, 2025
                                ___________
 
 Introduced  by M. of A. TAPIA -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the state finance law, in relation to  establishing  the
   New York state infrastructure bank
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The state finance law is amended by adding a new article 17
 to read as follows:
                                ARTICLE 17
                    NEW YORK STATE INFRASTRUCTURE BANK
 SECTION 300. SHORT TITLE.
         301. DEFINITIONS.
         302. NEW YORK STATE INFRASTRUCTURE BANK CREATED.
         303. BOARD AND EXECUTIVE COMMITTEE.
         304. POWERS AND DUTIES.
         305. INFRASTRUCTURE PROJECTS; ELIGIBILITY AND ASSISTANCE.
         306. EXEMPTION FROM TAXATION.
         307. COMPLIANCE.
         308. EFFECT OF BONDS.
         309. REPORTS.
         310. APPROPRIATION.
         311. SEVERABILITY.
   § 300. SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY  BE  CITED  AS
 THE "NEW YORK STATE INFRASTRUCTURE BANK ACT".
   §  301.  DEFINITIONS.  FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1. "APPLICANT" MEANS ANY PERSON, CORPORATION,  PARTNERSHIP,  STATE  OR
 LOCAL  GOVERNMENTAL  ENTITY,  OR  OTHER  ENTITY APPLYING TO THE BANK FOR
 FINANCIAL ASSISTANCE AUTHORIZED UNDER THIS ARTICLE.
   2. "BANK" MEANS THE NEW YORK STATE INFRASTRUCTURE BANK CREATED  PURSU-
 ANT TO SECTION THREE HUNDRED TWO OF THIS ARTICLE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08212-01-5
              

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