Extends the authority of the New York State Association for Retarded Children, Inc. to maintain bonds.
Ayes (60): Adams, Avella, Ball, Bonacic, Boyle, Breslin, Carlucci, DeFrancisco, Diaz, Dilan, Farley, Felder, Flanagan, Fuschillo, Gallivan, Gianaris, Gipson, Golden, Griffo, Grisanti, Hannon, Hassell-Thomps, Hoylman, Kennedy, Klein, Lanza, Larkin, Latimer, LaValle, Libous, Little, Marcellino, Marchione, Martins, Maziarz, Montgomery, Nozzolio, O'Brien, O'Mara, Parker, Peralta, Perkins, Ranzenhofer, Ritchie, Rivera, Robach, Sampson, Sanders, Savino, Serrano, Seward, Skelos, Smith, Squadron, Stavisky, Stewart-Cousin, Tkaczyk, Valesky, Young, Zeldin
Absent (1): Espaillat
Excused (2): Addabbo, Krueger
TITLE OF BILL: An act to amend chapter 373 of the laws of 1998, amending the public authorities law relating to the powers of NYSARC, Inc., in relation to extending the provisions of such chapter
PURPOSE OR GENERAL IDEA OF BILL: This bill would extend for an additional five years the authority of NYSARC, Inc., formerly the New York State Association for Retarded Children, Inc., to avail itself of Dormitory Authority construction management and financial services. NYSARC's current authority expires on December 31, 2013 and this would extend it until December 31, 2018.
SUMMARY OF SPECIFIC PROVISIONS: This bill would amend section 5 of chapter 373 of the laws of 1998 to change the effective date so that NYSARC continues to have authority to avail itself of Dormitory Authority construction and management financial services for another five years.
JUSTIFICATION: NYSARC is a private, not-for-profit organization dedicated to ensuring that persons with developmental disabilities become active and contributing members of their communities. Since NYSARC's authority to utilize Dormitory Authority construction and management services was established, NYSARC has bonded over $156,365,000 involving 343 projects and 367 loans through the state, saving over $32 million in public funds. Expiration of NYSARC's authority would undermine very substantial bond initiatives now underway, resulting in lost savings to the state and lost funding to reinvest in critical services to persons with developmental disabilities. Future bond issues contingent on this legislation are expected to continue to benefit both New York taxpayers and the individuals and families NYSARC services.
PRIOR LEGISLATIVE HISTORY: New Bill
FISCAL IMPLICATIONS: By continuing to fund projects through tax exempt financing New York State will save funds it would otherwise reimburse NYSARC, Inc. chapters.
EFFECTIVE DATE: This act shall take effect immediately and shall expire and be deemed repealed on December 31, 2018.
STATE OF NEW YORK ________________________________________________________________________ 3800 2013-2014 Regular Sessions IN SENATE February 15, 2013 ___________Introduced by Sen. CARLUCCI -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend chapter 373 of the laws of 1998, amending the public authorities law relating to the powers of NYSARC, Inc., in relation to extending the provisions of such chapter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5 of chapter 373 of the laws of 1998, amending the public authorities law relating to the powers of NYSARC, Inc., as amended by chapter 194 of the laws of 2008, is amended to read as follows: S 5. This act shall take effect immediately and shall expire and be deemed repealed on December 31,
2018. S 2. Any contracts entered into by the dormitory authority pursuant to this act shall be deemed state contracts within the meaning of that term as set forth in article 15-A of the executive law, and the authority shall be deemed, for the purposes of this act, a contracting agency as that term is used in such article. S 3. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08476-01-3