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Senate Bill S2251

2025-2026 Legislative Session

Relates to the bond issuance charge

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Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

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2025-S2251 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2976, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4539
2013-2014: S1745
2015-2016: S3598
2017-2018: S2376
2019-2020: S3201
2021-2022: S3440
2023-2024: S1262

2025-S2251 (ACTIVE) - Summary

Relates to the bond issuance charge as applied to the New York city housing development corporation.

2025-S2251 (ACTIVE) - Sponsor Memo

2025-S2251 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2251
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 16, 2025
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to  amend  the  public authorities law, in relation to the bond
   issuance charge
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  1  of section 2976 of the public authorities
 law, as amended by section 1 of part C of chapter  19  of  the  laws  of
 2010, is amended to read as follows:
   1.  Notwithstanding  any  other  law  to  the contrary, public benefit
 corporations (which for purposes of this section  shall  include  indus-
 trial  development  agencies  created  pursuant  to title one of article
 eighteen-A of the general municipal law or any other  provision  of  law
 and  the  New York city housing development corporation created pursuant
 to article twelve of the private housing finance law) which issue bonds,
 notes or other obligations shall pay to the state a bond issuance charge
 upon the issuance of such bonds in  an  amount  determined  pursuant  to
 subdivision  two of this section. Such charge shall be paid to the state
 department of taxation and finance, upon forms prescribed  therefor,  no
 later  than  fifteen  days  from  the end of the month within which such
 bonds are issued.  WITH RESPECT TO THE NEW YORK CITY HOUSING DEVELOPMENT
 CORPORATION SUCH BOND ISSUANCE CHARGE SHALL BE  CALCULATED  SOLELY  WITH
 RESPECT  TO  BONDS, NOTES OR OTHER OBLIGATIONS ISSUED THAT REQUIRE A NEW
 ALLOCATION FROM THE CURRENT YEAR UNIFIED STATE BOND  VOLUME  CEILING  OF
 NEW PRIVATE ACTIVITY BOND AUTHORITY OR A CARRY-FORWARD OF PRIVATE ACTIV-
 ITY BOND AUTHORITY.
   § 2. This act shall take effect on the one hundred twentieth day after
 it  shall have become a law. Effective immediately, the addition, amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation of this act on its effective date are authorized to be  made  and
 completed on or before such effective date.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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