Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to finance |
Jan 23, 2013 |
referred to finance |
Senate Bill S2671
2013-2014 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Finance 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
2013-S2671 (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §67-a, St Fin L
2013-S2671 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2671 TITLE OF BILL: An act to amend the state finance law, in relation to excluding housing for students at state university of New York insti- tutions from the definition of state-supported debt PURPOSE: The purpose of this bill is to exclude student housing from the definition of state-supported debt. SUMMARY OF PROVISIONS: Section 1. Amends subdivision one of section 67-a of the state finance law to remove student housing from the definition of state supported debt. Section 2. Sets forth the effective date. JUSTIFICATION: This bill will allow the State University of New York to build student housing without being subject to the state debt cap. This bill removes notes and bonds issued for a housing unit at SUNY from such cap. SUNY dormitory funds are self sustaining due to student housing fees. Therefore, this bill will allow the State University the necessary flexibility to build additional student housing based on enrollment needs. LEGISLATIVE HISTORY: New bill.
2013-S2671 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2671 2013-2014 Regular Sessions I N S E N A T E January 23, 2013 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to excluding housing for students at state university of New York institutions from the definition of state-supported debt THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 67-a of the state finance law, as added by chapter 59 of the laws of 2000, is amended to read as follows: 1. "State-supported debt" shall mean any bonds or notes, including bonds or notes issued to fund reserve funds and costs of issuance, issued by the state or a state public corporation for which the state is constitutionally obligated to pay debt service or is contractually obli- gated to pay debt service subject to an appropriation, except where the state has a contingent contractual obligation. PROVIDED, HOWEVER, THAT STATE-SUPPORTED DEBT SHALL NOT INCLUDE BONDS AND NOTES ISSUED FOR A HOUSING UNIT FOR THE USE OF STUDENTS AT A STATE-OPERATED INSTITUTION OR STATUTORY OR CONTRACT COLLEGE UNDER THE JURISDICTION OF THE STATE UNIVERSITY OF NEW YORK. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08233-01-3
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