Bill S7584A-2013

Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing

Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing.

Details

Actions

  • Jun 17, 2014: referred to local governments
  • Jun 17, 2014: DELIVERED TO ASSEMBLY
  • Jun 17, 2014: PASSED SENATE
  • Jun 10, 2014: ADVANCED TO THIRD READING
  • Jun 9, 2014: 2ND REPORT CAL.
  • Jun 9, 2014: AMENDED 7584A
  • Jun 3, 2014: 1ST REPORT CAL.1173
  • May 15, 2014: REFERRED TO LOCAL GOVERNMENT

Calendars

Votes

Memo

BILL NUMBER:S7584A

TITLE OF BILL: An act to amend the local finance law, in relation to the period of probable usefulness of boiler systems

PURPOSE:

Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing.

SUMMARY OF PROVISIONS:

Section 1 amends subdivision 13 of paragraph (a) of section 11.00 of the local finance law to specify that the period of probable usefulness of the installation or reconstruction of a boiler system in a building is fifteen years.

Section 2 contains the effective date.

EXISTING LAW:

Section 11.00 of the local finance law provides for a ten year period for a heating, lighting, plumbing, ventilating elevator or power plant or system for class "A" or "B" building and five years for a class "C" building.

JUSTIFICATION:

Municipalities across the state are looking to undertake new biomass heating projects in their buildings but are limited to a ten year bond due to their expected useful life under current law. However, the useful life of heating systems under the local finance law does not accurately reflect the actual useful life of these systems. According to a publication of the New York State Division of Housing and Community Renewal, the useful life for boilers is between twenty-five to thirty-five years, depending on the type of material used for the boiler. The useful life of a furnace is approximately fifteen years and because the local finance law does not differentiate between furnace and boiler heating systems, local governments cannot bond for a period longer than ten years for a new or replacement boiler. This bill aims to correct the actual useful life of these systems.

LEGISLATIVE HISTORY:

New Bill

FISCAL IMPLICATIONS:

None to the state

EFFECTIVE DATE:

This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 7584--A Cal. No. 1173 IN SENATE May 15, 2014 ___________
Introduced by Sen. LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- reported favorably from said committee, ordered to first report, amended on first report, ordered to a second report and ordered reprinted, retaining its place in the order of second report AN ACT to amend the local finance law, in relation to the period of probable usefulness of boiler systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 13 of paragraph a of section 11.00 of the local finance law, as amended by chapter 837 of the laws of 1945, is amended to read as follows: 13. Certain building alterations. The installation or reconstruction of a heating, lighting, plumbing, ventilating, elevator or power plant or system in a building when not in connection with the original construction or the reconstruction of such building, in a class "A" or "B" building, ten years; in a class "C" building, five years. The terms "class 'A' building," "class 'B' building" and "class 'C' building," as used in this subdivision, shall mean such buildings as they are described in subdivision eleven of this paragraph. PROVIDED, HOWEVER, THAT THE INSTALLATION OR RECONSTRUCTION OF A BOILER SYSTEM IN A BUILD- ING, REGARDLESS OF THE CLASS THEREOF, WHEN NOT IN CONNECTION WITH THE ORIGINAL CONSTRUCTION OR RECONSTRUCTION OF SUCH BUILDING, FIFTEEN YEARS. S 2. This act shall take effect immediately.

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