Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 21, 2014 |
signed chap.438 |
Nov 10, 2014 |
delivered to governor |
Jun 17, 2014 |
returned to assembly passed senate 3rd reading cal.920 substituted for s5863a |
Jun 17, 2014 |
substituted by a7167e |
Jun 02, 2014 |
advanced to third reading |
May 29, 2014 |
2nd report cal. |
May 28, 2014 |
1st report cal.920 |
Feb 21, 2014 |
print number 5863a |
Feb 21, 2014 |
amend and recommit to energy and telecommunications |
Jan 08, 2014 |
referred to energy and telecommunications |
Jun 18, 2013 |
referred to rules |
Senate Bill S5863A
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A7167 - Signed by Governor
- 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
Bill Amendments
2013-S5863 - Details
- See Assembly Version of this Bill:
- A7167
- Law Section:
- Public Service Law
- Laws Affected:
- Amd §101, Pub Serv L
2013-S5863 - Sponsor Memo
BILL NUMBER:S5863 REVISED 6/21/13 TITLE OF BILL: An act to amend the public service law, in relation to the issuance of stocks, bonds and other forms of indebtedness for the purpose of expanding broadband services PURPOSE: This legislation would authorize telephone and telegraph corporations to issue stocks, bonds or other forms of indebtedness for the purposes of expanding broadband services. SUMMARY OF SPECIFIC PROVISIONS: Section 1 would amend section 101 of the public service law to clarify that federal loans for the expansion of broadband services can be used by telephone and telegraph companies under their application for authority. Further, the public service commission must provide a determination on an application for authority with respect to federal loan money for broadband expansion within sixty calendar days. Additionally, proceeds from federal loans for the expansion of broadband services are exempted from the requirement that all proceeds/issue be applied to the purposes specified under an Incumbent Local Exchange Carriers' application for authority if the Public Service Commission does not provide a determination within GO calendar days. JUSTIFICATION: NY has been ranked fifth nationwide for internet
2013-S5863 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5863 2013-2014 Regular Sessions I N S E N A T E June 18, 2013 ___________ Introduced by Sen. YOUNG -- (at request of the Legislative Commission on Rural Resources) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the public service law, in relation to the issuance of stocks, bonds and other forms of indebtedness for the purpose of expanding broadband services THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 101 of the public service law, as amended by chap- ter 443 of the laws of 2000, is amended to read as follows: S 101. Authority to issue stock, bonds and other forms of indebt- edness. A telegraph or telephone corporation may, when authorized by the commission, issue stock, bonds, notes or other evidences of indebt- edness payable at periods of more than twelve months after the date thereof, or a receiver of such a corporation, if duly authorized by law, may issue receiver's certificates, when necessary for the acquisition of property, the construction, completion, extension or improvement of its facilities or the improvement or maintenance of its service within the state, or for the discharge or lawful refunding of its obligations, or reimbursement of moneys actually expended from the income from any source, within five years next prior to the filing of the application therefor, or for any of such purposes, provided, however, that no authority shall be granted authorizing such issue for reimbursement of moneys expended from income for betterments or replacements unless the applicant shall have kept its accounts and vouchers of such expenditures in such manner as to enable the commission to ascertain the amount of moneys so expended and the purposes for which such expenditures were made. Stock may be issued to stockholders as a stock dividend provided that there shall have been secured from the commission authority for such issuance and for a transfer of surplus to capital in an amount equal to the par or stated value of the stock so authorized and that the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11588-01-3
2013-S5863A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7167
- Law Section:
- Public Service Law
- Laws Affected:
- Amd §101, Pub Serv L
2013-S5863A (ACTIVE) - Sponsor Memo
BILL NUMBER:S5863A TITLE OF BILL: An act to amend the public service law, in relation to the issuance of stocks, bonds and other forms of indebtedness for the purpose of expanding broadband services PURPOSE: This legislation would authorize telephone and telegraph corporations to issue stocks, bonds or other forms of indebtedness for the purposes of expanding broadband services. SUMMARY OF SPECIFIC PROVISIONS: Section 1 would amend section 101 of the public service law to clarify that federal loans for the expansion of broadband services can be used by telephone and telegraph companies under their application for authority. Further, the public service commission must provide a determination on an application for authority with respect to federal loan money for broadband expansion within sixty calendar days. Additionally, proceeds from federal loans for the expansion of broadband services are exempted from the requirement that all proceeds/issue be applied to the purposes specified under an Incumbent Local Exchange Carriers' application for authority if the Public Service Commission does not provide a determination within 6O calendar days.
2013-S5863A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5863--A 2013-2014 Regular Sessions I N S E N A T E June 18, 2013 ___________ Introduced by Sen. YOUNG -- (at request of the Legislative Commission on Rural Resources) -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- recommitted to the Committee on Energy and Telecommunications in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public service law, in relation to the issuance of stocks, bonds and other forms of indebtedness for the purpose of expanding broadband services THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 101 of the public service law, as amended by chap- ter 443 of the laws of 2000, is amended to read as follows: S 101. Authority to issue stock, bonds and other forms of indebt- edness. A telegraph or telephone corporation may, when authorized by the commission, issue stock, bonds, notes or other evidences of indebt- edness payable at periods of more than twelve months after the date thereof, or a receiver of such a corporation, if duly authorized by law, may issue receiver's certificates, when necessary for the acquisition of property, the construction, completion, extension or improvement of its facilities or the improvement or maintenance of its service within the state, or for the discharge or lawful refunding of its obligations, or reimbursement of moneys actually expended from the income from any source, within five years next prior to the filing of the application therefor, or for any of such purposes, provided, however, that no authority shall be granted authorizing such issue for reimbursement of moneys expended from income for betterments or replacements unless the applicant shall have kept its accounts and vouchers of such expenditures in such manner as to enable the commission to ascertain the amount of moneys so expended and the purposes for which such expenditures were made. Stock may be issued to stockholders as a stock dividend provided EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11588-02-4
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