Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 06, 2025 |
print number 7039a |
Jun 06, 2025 |
amend and recommit to ways and means |
Mar 25, 2025 |
reported referred to ways and means |
Mar 19, 2025 |
referred to corporations, authorities and commissions |
Assembly Bill A7039A
2025-2026 Legislative Session
Sponsored By
BRAUNSTEIN
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
Actions
Bill Amendments
co-Sponsors
Steven Otis
2025-A7039 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §51, Pub Auth L
2025-A7039 - Summary
Relates to project applications and advisory opinions of the public authorities control board; requires that any application made concerning a proposed project involving a loan, to the extent practicable, shall include the terms, conditions and dates of the repayment of state appropriations; makes related provisions.
2025-A7039 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7039 2025-2026 Regular Sessions I N A S S E M B L Y March 19, 2025 ___________ Introduced by M. of A. BRAUNSTEIN -- read once and referred to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to project applications and advisory opinions of the public authorities control board THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 2, 3, 3-a, 4, 5 and 6 of section 51 of the public authorities law are renumbered subdivisions 7, 8, 9, 10, 11 and 12 and five new subdivisions 2, 3, 4, 5 and 6 are added to read as follows: 2. ANY APPLICATION MADE CONCERNING A PROPOSED PROJECT INVOLVING A LOAN SHALL INCLUDE, TO THE EXTENT PRACTICABLE, EXPRESSLY AND IN WRITING, THE TERMS, CONDITIONS AND DATES OF THE REPAYMENT OF STATE APPROPRIATIONS AUTHORIZED BY LAW PURSUANT TO A REPAYMENT AGREEMENT AND SHALL INCLUDE A COPY OF THE PROPOSED REPAYMENT AGREEMENT. IN ANY SUCH APPLICATION THE TERMS AND CONDITIONS, PROVIDED EXPRESSLY AND IN WRITING, SHALL INCLUDE, TO THE EXTENT PRACTICABLE, BUT NOT BE LIMITED TO: A. ANY JOB RETENTION OR JOB CREATION REQUIREMENTS AND THE TERMS OF ANY SUCH REQUIREMENTS, WHERE SUCH LOAN WOULD BE CONDITIONAL ON ANY JOB RETENTION OR JOB CREATION REQUIREMENTS, A DESCRIPTION OF ANY CONTRACTUAL CLAWBACK PROVISIONS OR OTHER REMEDIES IN THE EVENT SUCH REQUIREMENTS ARE NOT MET; B. RATE OF INTEREST, FOR FIXED RATE AGREEMENTS; C. ALL TERMS NECESSARY TO DETERMINE AND CALCULATE INTEREST FOR NON- FIXED RATE LOAN AGREEMENTS; D. REPAYMENT DATE, OR DATES, AND ASSOCIATED AMOUNTS, FOR THE RETURN OF LOAN PRINCIPAL; E. ANY CONDITIONS OR RESTRICTIONS ASSOCIATED WITH THE LOAN, THE TERMS OF SUCH CONDITIONS OR RESTRICTIONS, AND ANY CONTRACTUAL REMEDY IF SUCH CONDITIONS OR RESTRICTIONS IN THE EVENT OF A BREACH OF SUCH TERMS; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05340-03-5
co-Sponsors
Steven Otis
2025-A7039A (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §51, Pub Auth L
2025-A7039A (ACTIVE) - Summary
Relates to project applications and advisory opinions of the public authorities control board; requires that any application made concerning a proposed project involving a loan, to the extent practicable, shall include the terms, conditions and dates of the repayment of state appropriations; makes related provisions.
2025-A7039A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7039--A 2025-2026 Regular Sessions I N A S S E M B L Y March 19, 2025 ___________ Introduced by M. of A. BRAUNSTEIN, OTIS -- read once and referred to the Committee on Corporations, Authorities and Commissions -- reported and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public authorities law, in relation to project applications and advisory opinions of the public authorities control board THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 2, 3, 3-a, 4, 5 and 6 of section 51 of the public authorities law are renumbered subdivisions 7, 8, 9, 10, 11 and 12 and five new subdivisions 2, 3, 4, 5 and 6 are added to read as follows: 2. ANY APPLICATION MADE CONCERNING A PROPOSED PROJECT INVOLVING A LOAN SHALL INCLUDE, TO THE EXTENT PRACTICABLE, EXPRESSLY AND IN WRITING, THE TERMS, CONDITIONS AND DATES OF THE REPAYMENT OF STATE APPROPRIATIONS AUTHORIZED BY LAW PURSUANT TO A REPAYMENT AGREEMENT AND SHALL INCLUDE A COPY OF THE PROPOSED REPAYMENT AGREEMENT. IN ANY SUCH APPLICATION THE TERMS AND CONDITIONS, PROVIDED EXPRESSLY AND IN WRITING, SHALL INCLUDE, TO THE EXTENT PRACTICABLE, BUT NOT BE LIMITED TO: A. ANY JOB RETENTION OR JOB CREATION REQUIREMENTS AND THE TERMS OF ANY SUCH REQUIREMENTS, WHERE SUCH LOAN WOULD BE CONDITIONAL ON ANY JOB RETENTION OR JOB CREATION REQUIREMENTS, A DESCRIPTION OF ANY CONTRACTUAL CLAWBACK PROVISIONS OR OTHER REMEDIES IN THE EVENT SUCH REQUIREMENTS ARE NOT MET; B. RATE OF INTEREST, FOR FIXED RATE AGREEMENTS; C. ALL TERMS NECESSARY TO DETERMINE AND CALCULATE INTEREST FOR NON- FIXED RATE LOAN AGREEMENTS; D. REPAYMENT DATE, OR DATES, AND ASSOCIATED AMOUNTS, FOR THE RETURN OF LOAN PRINCIPAL; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05340-04-5
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