Extensions by Department of Motor Vehicles, Department of Taxation and Finance, and Environmental Facilities Corporation Help New Yorkers and Localities Meet Deadlines
Governor Andrew M. Cuomo today announced extensions for State Department of Motor Vehicles renewal deadlines for all driver licenses, learner permits, non-driver ID cards and vehicle registrations, as well as extensions for certain State Department of Taxation and Finance tax filing and payment deadlines for taxpayers directly affected by the storm, in response to emergency conditions resulting from Hurricane Sandy. In addition, the Governor also announced extensions for local governments to meet bond payments to the Environmental Facilities Corporation.
“We are continuing to learn more about the extent of damage from the storm across New York, and state agencies are working hard to measure the needs of New Yorkers and local governments and to carry out response efforts,” Governor Cuomo said. “Therefore, providing extensions for deadlines such as license renewals and tax and bond payments means one less thing that New Yorkers impacted by the storm have to worry about.”
DMV extends renewal deadlines due to Hurricane Sandy
The State Department of Motor Vehicles (DMV) announced today that due to the impact of Hurricane Sandy, all driver licenses, learner permits, non-driver identification cards and vehicle registrations scheduled to expire on or before Tuesday, November 13, 2012 are extended until Wednesday, November 14, 2012.
This extension applies only to residents of New York City, and the counties of Westchester, Nassau and Suffolk. It does not apply to insurance coverage requirements. Motor vehicle liability insurance coverage must be maintained at all times during this extension period.
Vehicle inspections, which expire on the last day of the month, are not included in the extension. Also, all DMV hearings, including Traffic Violations Bureau hearings scheduled through Friday, November 2, 2012, in New York City, Nassau, Westchester and Suffolk counties, are being postponed. If you have a hearing scheduled, please do not appear at the hearing site. You will be notified of a rescheduled hearing date by mail. For hearings scheduled on or after Monday, November 5, 2012, please check our web site for updates and additional information at http://www.dmv.ny.gov/.
Motorists who cannot get to a DMV or may have forgotten to renew their vehicle registrations on time can print a temporary 10-day proof of registration when they renew their registrations online. This is one of several online services DMV offers. By signing up for MyDMV, customers gain quick and easy access to a variety of personalized and secure online services without mailing in forms or making a trip to a local DMV office. For additional information, visit www.dmv.ny.gov.
Extended Tax Filing and Payment Deadline for Taxpayers
The State Department of Taxation and Finance today announced the extension of certain tax filing and payment deadlines for taxpayers directly affected by the storm, in response to emergency conditions resulting from the hurricane.
All 62 New York State counties are eligible for these extensions since Governor Cuomo had declared a state of emergency in New York and President Obama has authorized federal aid and assistance for the State.
Deadlines have been extended to November 14, 2012. This covers filings and tax payments due during the period beginning October 26, 2012 and ending on or before November 13, 2012.
Additionally, the extension applies to all claims for refunds, including a protective claim associated with the Metropolitan Commuter Transportation Mobility Tax.
The Department’s website – www.tax.ny.gov – has posted two new documents to provide guidance on these extensions:
· Announcement Regarding Hurricane Sandy, N-12-11
· Special Waiver of Highway Use Tax and IFTA credentials Related to Hurricane Sandy Disaster Relief Efforts, N-12-10.
New York State Tax employees have been staffing the Hurricane Sandy Helpline at (888) 769-7243, with more than 300 state employees taking calls right now.
Extended Bond Payment Deadlines for Local Governments
The State Environmental Facilities Corporation (EFC) announced today it will help the Orange County Village of Greenwood Lake and other communities affected by Hurricane Sandy to meet bond payments owed on municipal wastewater and drinking water projects.
EFC will help these communities to avoid potentially defaulting on their bond obligations by giving them an extra month to make their scheduled payments. Those payments were due yesterday, but EFC took steps necessary to advance those payments on behalf of the affected municipalities. While many communities were able to make their payments on time, officials in Greenwood and other municipalities without power could not transfer the necessary funds.
EFC is the arm of New York State government that helps communities pay for major investments in their drinking water and wastewater systems. As the administrator of the nation’s largest revolving funds for drinking water and wastewater infrastructure, EFC has provided more than $12.5 billion in grants and loans for more than 1,550 water-quality projects throughout the state. As municipalities repay these loans, those dollars are used for loans to new projects -- a true revolving fund. EFC issues bonds at AAA/Aaa rates to fund most of the projects it finances for municipalities, using the municipal repayments and investment earnings to repay bondholders.
New York State is known as a national leader in maximizing the federal and state funds that are allocated each year to the Clean Water and Drinking Water State Revolving Funds. EFC annually finances several hundred millions dollars of drinking water and wastewater projects, and has continuously developed state-of-the-art investment strategies to generate investment returns to expand the funds available for these projects. EFC’s investment strategies were praised last year in a report by the Environmental Financial Advisory Board of the U.S. Environmental Protection Agency.
Unlike some other states, New York is using its revolving loan funds and its top credit ratings to help municipalities take advantage of today’s lower interest rates. This year, EFC is refinancing more than $1.1 billion in local government debt, saving municipalities and local ratepayers more than $353 million over the next 20 years.