NY State Senate Bill 2013-S7352

Archive: Last Bill Status - 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

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Dec 17, 2014	signed chap.526
Dec 05, 2014	delivered to governor
Jun 17, 2014	returned to senate passed assembly ordered to third reading rules cal.326 substituted for a9823
Jun 11, 2014	referred to local governments delivered to assembly passed senate
Jun 10, 2014	ordered to third reading cal.1273 committee discharged and committed to rules
May 13, 2014	referred to local government

Votes

- Jun 11, 2014 - Floor Vote
  S7352
  
  57
  
  Aye
  
  1
  
  Nay
  
  0
  
  Absent
  
  3
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 11, 2014
      
      aye (57)
      
      Addabbo Jr.
      
      Avella
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Farley
      
      Felder
      
      Flanagan
      
      Gallivan
      
      Gianaris
      
      Gipson
      
      Golden
      
      Griffo
      
      Grisanti
      
      Hannon
      
      Hoylman-Sigal
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Libous
      
      Little
      
      Marcellino
      
      Marchione
      
      Martins
      
      Maziarz
      
      Montgomery
      
      Nozzolio
      
      O'Brien
      
      O'Mara
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sampson
      
      Sanders Jr.
      
      Savino
      
      Serrano
      
      Seward
      
      Skelos
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Tkaczyk
      
      Valesky
      
      Young
      
      Zeldin
      
      nay (1)
      
      Ball
      
      excused (3)
      
      Espaillat
      
      Hassell-Thompson
      
      Smith
  Jun 10, 2014 - Rules Committee Vote
  S7352
  
  21
  
  Aye
  
  0
  
  Nay
  
  3
  
  Aye with Reservations
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 10, 2014
      
      aye (21)
      
      Bonacic
      
      Breslin
      
      Carlucci
      
      Dilan
      
      Espaillat
      
      Farley
      
      Flanagan
      
      Hannon
      
      LaValle
      
      Larkin
      
      Libous
      
      Little
      
      Marcellino
      
      Maziarz
      
      Montgomery
      
      Nozzolio
      
      Parker
      
      Seward
      
      Skelos
      
      Stewart-Cousins
      
      Valesky
      
      aye wr (3)
      
      Gianaris
      
      Krueger
      
      Perkins
      
      excused (1)
      
      Hassell-Thompson

2013-S7352 (ACTIVE) - Details

See Assembly Version of this Bill:: A9823
Law Section:: Local Finance Law
Laws Affected:: Amd §160.05, Loc Fin L

2013-S7352 (ACTIVE) - Summary

Assists certain municipalities in adopting multi-year financial planning; and provides for the payment of such planning from monies appropriated to the financial restructuring board for local governments.

2013-S7352 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S7352

TITLE OF BILL:  An act to amend the local finance law, in relation to
encouraging certain municipalities to adopt multi-year financial plan-
ning and providing for the payment of such planning from monies appro-
priated to the financial restructuring board for local governments

PURPOSE:

The purpose of this legislation is to encourage municipalities to under-
take multi-year financial planning.

This proposal allows municipalities that have elected to engage in
multi-year planning with the assistance of an external financial advisor
and have been identified as experiencing fiscal stress to be reimbursed
from monies appropriated for the making of grants and loans by the
Financial Restructuring Board for Local Governments for all or part of
the cost incurred for such external financial advisor, in the discretion
of the Board.

SUMMARY OF PROVISIONS:

Section 1 adds a new subparagraph b to paragraph 3 of section 160.05 of
the Local Finance Law to provide that, on the request of any county,
city, excluding a city with a population greater than one million, town
or village, which has elected to engage in multi-year financial planning

with the assistance of an external financial advisor and which has been
identified as experiencing fiscal stress, the Financial Restructuring
Board for Local Governments may determine that all or part of the cost
to the county, city, town, or village for the external advisor shall be
subject to reimbursement from monies appropriated for such board for the
making of grants and loans.

Section 2 provides for an immediate effective date.

PRIOR LEGISLATIVE HISTORY:

New bill.

JUSTIFICATION:

Multiyear financial planning can be a valuable tool municipalities may
use to improve the budget development process. OSC routinely recommends
planning on a multi-year basis to enable local officials to help identi-
fy developing revenue and expenditure trends, establish long-term prior-
ities and goals, and consider the impact of near-term budgeting deci-
sions on future fiscal years. It also allows such officials to assess
the merits of alternative approaches (such as using unrestricted unap-
propriated fund balance or establishing and using reserve funds) to
finance its operations. Allowing State reimbursement for costs incurred
for external financial advisors will reduce a potential impediment and

help encourage these municipalities to engage in multi-year financial
planning.

FISCAL IMPLICATIONS FOR STATE:

This bill has no significant State fiscal impact.

EFFECTIVE DATE:

This act shall take effect immediately.

2013-S7352 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7352

                            I N  S E N A T E

                              May 13, 2014
                               ___________

Introduced  by  Sen. MARTINS -- (at request of the State Comptroller) --
  read twice and ordered printed, and when printed to  be  committed  to
  the Committee on Local Government

AN  ACT  to  amend  the  local  finance  law, in relation to encouraging
  certain municipalities to  adopt  multi-year  financial  planning  and
  providing for the payment of such planning from monies appropriated to
  the financial restructuring board for local governments

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 3 of section 160.05 of the local finance law,  as
added by chapter 67 of the laws of 2013, is amended to read as follows:
  3. (A) Upon the request of a fiscally eligible municipality, by resol-
ution of the governing body of such municipality with the concurrence of
the  chief  executive  of such municipality, the financial restructuring
board for local governments may undertake a comprehensive review of  the
operations,  finances, management practices, economic base and any other
factors that in its sole discretion it deems relevant to be able to make
findings and recommendations on reforming and  restructuring  the  oper-
ations  of the fiscally eligible municipality. As part of such recommen-
dations, the board may propose that such municipality  agree  to  fiscal
accountability  measures, as determined by the board, including, but not
limited to, multi-year financial planning. It may  also  identify  cost-
saving measures, recommend consolidation of functions or agencies within
such municipality or between such municipality and other municipalities,
consistent with existing law, identify and make available, to the extent
otherwise  permitted  by  law, grants and loans on such terms and condi-
tions as it deems appropriate, and make such  other  recommendations  as
the  board may deem just and proper but in no event shall the sum of all
awards made by the board to a single fiscally eligible  municipality  be
greater  than  five million dollars. If such award is a loan, it may not
be for a term longer than ten years. In the event a  grant  or  loan  is
made,  the board may condition such award on the fiscally eligible muni-
cipality submitting a report or reports on such  actions  taken  by  the
fiscally  eligible municipality pursuant to the board's recommendations,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD13926-06-4

S. 7352                             2

and the board shall require that the eligible  municipality  must  adopt
and  implement all the board's recommendations as a condition to receiv-
ing an award or awards. Before making final recommendations,  the  board
shall  consult with the fiscally eligible municipality. Such recommenda-
tions shall not be final and binding on a fiscally eligible municipality
unless it formally agrees to abide by and implement such recommendations
in which event such recommendations and the  terms  provided  thereunder
shall be final and binding on such municipality.
  (B)   NOTWITHSTANDING  PARAGRAPH  T  OF  SUBDIVISION  TEN  OF  SECTION
FIFTY-FOUR OF THE STATE FINANCE LAW AND IRRESPECTIVE  OF  WHETHER  THERE
HAS  BEEN  A  DETERMINATION  OR FINDING OF FISCAL ELIGIBILITY UNDER THIS
SECTION, UPON THE REQUEST OF ANY COUNTY, CITY, EXCLUDING A CITY  WITH  A
POPULATION  OF  GREATER THAN ONE MILLION, TOWN, OR VILLAGE WHICH (1) HAS
ELECTED TO ENGAGE IN MULTI-YEAR  PLANNING  WITH  THE  ASSISTANCE  OF  AN
EXTERNAL  FINANCIAL ADVISOR, AND (2) HAS BEEN IDENTIFIED AS EXPERIENCING
FISCAL STRESS, THE FINANCIAL RESTRUCTURING BOARD FOR  LOCAL  GOVERNMENTS
MAY DETERMINE THAT ALL OR PART OF THE COST TO THE COUNTY, CITY, TOWN, OR
VILLAGE FOR SUCH EXTERNAL ADVISOR SHALL BE SUBJECT TO REIMBURSEMENT FROM
MONIES APPROPRIATED TO SUCH BOARD FOR THE MAKING OF GRANTS AND LOANS.
  S 2. This act shall take effect immediately.

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Senate Bill S7352

Sponsored By

Archive: Last Bill Status - Signed by Governor

Jun 11, 2014 - Floor Vote

Floor Vote: Jun 11, 2014

Jun 10, 2014 - Rules Committee Vote

Rules Committee Vote: Jun 10, 2014

2013-S7352 (ACTIVE) - Details

2013-S7352 (ACTIVE) - Summary

2013-S7352 (ACTIVE) - Sponsor Memo

2013-S7352 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7352

Share this bill

Sponsored By

Jack M. Martins

Archive: Last Bill Status - Signed by Governor

2013-S7352 (ACTIVE) - Details

2013-S7352 (ACTIVE) - Summary

2013-S7352 (ACTIVE) - Sponsor Memo

2013-S7352 (ACTIVE) - Bill Text download pdf

Comments