Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to local government returned to senate died in assembly |
Jun 18, 2015 |
referred to local governments delivered to assembly passed senate ordered to third reading cal.1865 committee discharged and committed to rules |
Jun 03, 2015 |
referred to local government |
Senate Bill S5784
2015-2016 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Local Government 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
Votes
2015-S5784 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7984
- Current Committee:
- Senate Local Government
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd ยงยง90.00, 90.10 & 11.00, Loc Fin L
2015-S5784 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5784 TITLE OF BILL: An act to amend the local finance law, in relation to refunding bonds issued by a municipality authorized to create a community preservation fund PURPOSE: To provide communities who have issued bonds pursuant to section 64-e of the town law to refund those bonds and issue new bonds with a period of usefulness that will run from the date of reissuance SUMMARY OF PROVISIONS: Section 1. Amends section 90 (a) (2) & (4); 90 (f) (3) of the local finance law. Section 2. Amends section 90.10 (b) (2) of the local finance law by adding a new subparagraph (f) Section 3 Amends section 90.10 (e) (4) and (5) of the local finance law. Section 4. Amends section 90A0 (g) of the local finance law Section 5. Amends section 11 (a) (21) (b) of the local finance law. Section 6. Sets an immediate effective date. JUSTIFICATION: Legislation creating the Peconic Bay region community
2015-S5784 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 5784 A. 7984 2015-2016 Regular Sessions S E N A T E - A S S E M B L Y June 3, 2015 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Local Govern- ment IN ASSEMBLY -- Introduced by M. of A. THIELE, PALUMBO -- read once and referred to the Committee on Local Governments AN ACT to amend the local finance law, in relation to refunding bonds issued by a municipality authorized to create a community preservation fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 2 and 4 of paragraph a and subdivision 3 of paragraph f of section 90.00 of the local finance law, subdivision 2 of paragraph a as added by section 8 of part F of chapter 383 of the laws of 2001, subdivision 4 of paragraph a as amended by chapter 1034 of the laws of 1960 and subdivision 3 of paragraph f as amended by chapter 711 of the laws of 1943, are amended to read as follows: 2. Notwithstanding the provisions of subdivision one of this para- graph[,]: (A) bonds issued by a school district prior to December first two thousand one, or prior to thirty days after the effective date of this subdivision, whichever is later, for the purpose of financing facilities which were eligible for building aid pursuant to section thirty-six hundred two of the education law, and for which the aid apportionments payable in two thousand two--two thousand three and/or two thousand three--two thousand four school years for approved expendi- tures for debt service are subsequently reduced as a result of the application of assumed amortization to unpaid principal outstanding as of July first, two thousand two, may be refunded and the refunding bonds may be sold at either public or private sale in accordance with the provisions of section 90.10 of this title; provided, however, the school district need not comply with: (i) subparagraph (a) of subdivision two EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11306-03-5
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