Assembly Bill A7039A

2025-2026 Legislative Session

Relates to project applications and advisory opinions of the public authorities control board

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

Bill Amendments

co-Sponsors

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

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
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.