Bill S5692-2013

Authorizes the advancement of funds from the tribal state compact revenue account to certain municipalities within Niagara county

Authorizes the advancement of funds from the tribal state compact revenue account to certain municipalities within Niagara county.

Details

Actions

  • Jan 8, 2014: REFERRED TO LOCAL GOVERNMENT
  • Jun 5, 2013: REFERRED TO LOCAL GOVERNMENT

Memo

BILL NUMBER:S5692

TITLE OF BILL: An act relating to advancement of funds to certain municipalities, and providing for the repeal of such provisions upon expiration thereof

PURPOSE: Transfers $60 million to the City of Niagara Falls to replace funds not received from the agreement under the tribal state compact.

SUMMARY OF SPECIFIC PROVISIONS: Section 1, transfers $60 million to a municipality that hosts a gaming facility located within Niagara County. This money would advance funds from the tribal state compact.

Section 2 is the effective date

JUSTIFICATION: The City of Niagara Falls is to receive funding for hosting a casino. However, they have yet to receive this funding. This legislation transfers $60 million of money owed to the City. Such funds are an advance of amounts owed and will reduce the amount otherwise due to the City. This advance will assist the City.

PRIOR LEGISLATIVE HISTORY: New Bill.

FISCAL IMPLICATIONS: $60 million advancement which will reduce the amount otherwise owed by an equivalent amount.

EFFECTIVE DATE: This act shall take effect immediately and expire March 31, 2014.


Text

STATE OF NEW YORK ________________________________________________________________________ 5692 2013-2014 Regular Sessions IN SENATE June 5, 2013 ___________
Introduced by Sen. MAZIARZ -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT relating to advancement of funds to certain municipalities, and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. $60,000,000 from the general fund to the miscellaneous special revenue fund, tribal state compact revenue account (22169). Notwithstanding any provision of law to the contrary, such funds may be advanced to a municipality located within the county of Niagara hosting a gaming facility pursuant to the requirements of an appropriation contained in chapter 53 of the laws of 2013; provided, however, that any such advance shall reduce the amount otherwise due to such municipality by an equivalent amount, and that, upon receipt of any funds in the tribal state compact revenue account pursuant to a tribal state compact, such funds shall first be used to reimburse any transfer from the gener- al fund pursuant to this section. S 2. This act shall take effect immediately and shall expire March 31, 2014, when upon such date, the provisions of such section shall be deemed repealed.

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