Bill S4972-2013

Extends provisions of chapter 791 of 1980 relating to period of probable usefulness of certain judgments, compromised claims or settled claims

Extends provisions relating to period of probable usefulness of certain judgments, compromised claims or settled claims.

Details

Actions

  • Jun 20, 2013: SUBSTITUTED BY A7099
  • May 29, 2013: ADVANCED TO THIRD READING
  • May 23, 2013: 2ND REPORT CAL.
  • May 22, 2013: 1ST REPORT CAL.757
  • May 2, 2013: REFERRED TO LOCAL GOVERNMENT

Votes

VOTE: COMMITTEE VOTE: - Local Government - May 22, 2013
Ayes (8): Martins, Ball, Marchione, Ritchie, Valesky, Gipson, Latimer, O'Brien
Ayes W/R (1): Boyle

Memo

BILL NUMBER:S4972

TITLE OF BILL: An act to amend chapter 719 of the laws of 1980 amending the local finance law relating to the period of probable usefulness of certain judgments, compromised claims or settled claims, in relation to extending the provisions of such chapter

PURPOSE: The bill extends authority from June 15, 2013 to June 15, 2018, for municipalities to finance judgments related to certain tax proceedings including certiorari and small claims assessment review.

SUMMARY OF PROVISIONS:

Section 1 amends chanter 719 of the laws of 1980 and chapter 122 of the laws of 2018 to extend provisions of subdivision 33-a of section 11.00 o the local finance law for an additional five years.

Section 2 sets an immediate effect date.

JUSTIFICATION: Allowing municipalities to spread the cost of certain judgments over several years will result in the judgments having a less impact of the current fiscal year's budget. This authorization should be extended for an additional five years, thereby continuing flexibility provided to municipalities to Pay certain judgments, and providing the legislature an opportunity to review the law.

LEGISLATIVE HISTORY: This is a new bill.

FISCAL IMPLICATIONS: None to the State.

EFFECTIVE DATE: This act will take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 4972 2013-2014 Regular Sessions IN SENATE May 2, 2013 ___________
Introduced by Sen. MARTINS -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend chapter 719 of the laws of 1980 amending the local finance law relating to the period of probable usefulness of certain judgments, compromised claims or settled claims, 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 2 of chapter 719 of the laws of 1980 amending the local finance law relating to the period of probable usefulness of certain judgments, compromised claims or settled claims, as amended by chapter 122 of the laws of 2008, is amended to read as follows: S 2. This act shall take effect immediately and the provisions of section one of this act shall remain in force and effect to and includ- ing June 15, [2013] 2018. S 2. This act shall take effect immediately.

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