1. The Laws of New York
  2. Unconsolidated Laws
  3. Private Activity Bond 47/90
  4. Title 1: * Private Activity Bond Allocation Act of 1990


Section 6 Access to employment opportunities

Private Activity Bond 47/90 (PAB)

1. All issuers shall require that any new employment opportunities created in connection with industrial or manufacturing projects financed through the issuance of qualified small issue bonds shall be listed with the New York state department of labor job service division, and with the administrative entity of the service delivery area created pursuant to the Job Training Partnership Act (Pub. L. 97-300) in which the project is located. Such listing shall be in a manner and form prescribed by the commissioner. All issuers shall further require that for any new employment opportunities created in connection with an industrial or manufacturing project financed through the issuance of qualified small issue bonds by such issuer, industrial or manufacturing firms shall first consider persons eligible to participate in Federal Job Training Partnership Act (Pub. L. 97-300) programs who shall be referred to the industrial or manufacturing firm by administrative entities of service delivery areas created pursuant to such act or by the job service division at the department of labor. Issuers of qualified small issue bonds are required to monitor compliance with the provisions of this section as prescribed by the commissioner.

  2. Nothing in this section shall be construed to require users of qualified small issue bonds to violate any existing collective bargaining agreement with respect to the hiring of new employees. Failure on the part of any user of qualified small issue bonds to comply with the requirements of this section shall not affect the allocation of bonding authority to the issuer of the bonds or the validity or tax exempt status of such bonds. * NB Repealed January 1, 1991