Assembly Bill A2458

2009-2010 Legislative Session

Authorizes the establishment of a public library revolving loan fund

download bill text pdf

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Archive: Last Bill Status - In Assembly 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

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2009-A2458 (ACTIVE) - Details

Current Committee:
Assembly Libraries And Education Technology
Law Section:
Education Law
Laws Affected:
Add §273-b, Ed L; add §91-h, St Fin L
Versions Introduced in Other Legislative Sessions:
2011-2012: A3367
2013-2014: A4040
2015-2016: A1930
2017-2018: A1873
2019-2020: A4174
2021-2022: A1579
2023-2024: A4533

2009-A2458 (ACTIVE) - Summary

Authorizes the establishment of a public library revolving loan fund to provide loans to municipalities for local public library projects at an interest rate two points below the prime rate.

2009-A2458 (ACTIVE) - Bill Text download pdf

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

                                  2458

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 16, 2009
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Libraries and Education Technology

AN ACT to amend the education law and the state finance law, in relation
  to establishing a public library revolving loan fund

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

  Section  1. The education law is amended by adding a new section 273-b
to read as follows:
  S 273-B.  PUBLIC LIBRARY REVOLVING LOAN PROGRAM. 1.  THE  COMMISSIONER
SHALL  ESTABLISH AND MAINTAIN A PUBLIC LIBRARY REVOLVING LOAN PROGRAM TO
PROVIDE LOANS TO LIBRARIES AND LIBRARY SYSTEMS FOR THE  PURPOSES  DESIG-
NATED  IN  THIS  PART.  NOTWITHSTANDING THE PROVISIONS OF ANY LAW TO THE
CONTRARY, STATE FINANCIAL ASSISTANCE IN  THE  FORM  OF  A  LOAN  MAY  BE
PROVIDED FOR UP TO FIFTY PERCENT OF THE APPROVED COSTS (EXCLUDING FEASI-
BILITY  STUDIES,  PLANS  OR SIMILAR ACTIVITIES) OF ELIGIBLE PROJECTS FOR
CAPITAL CONSTRUCTION BY AN ELIGIBLE PUBLIC, FREE ASSOCIATION  OR  INDIAN
LIBRARY,  OR  BY  A  PUBLIC,  SCHOOL  OR  REFERENCE AND RESEARCH LIBRARY
RESOURCE SYSTEM, AS PROVIDED IN THIS SECTION. IN AREAS OF HIGH NEED,  AS
DEFINED  IN  REGULATIONS  PROMULGATED  BY  THE  COMMISSIONER PURSUANT TO
SUBDIVISION ELEVEN OF THIS SECTION, A LOAN OF UP TO SEVENTY-FIVE PERCENT
OF APPROVED COSTS  (EXCLUDING  FEASIBILITY  STUDIES,  PLANS  OR  SIMILAR
ACTIVITIES)  MAY  BE  APPROVED BY THE COMMISSIONER. A LIBRARY OR LIBRARY
SYSTEM MAY SUBMIT AN APPLICATION  FOR  STATE  FINANCIAL  ASSISTANCE  FOR
ELIGIBLE PROJECTS AS PROVIDED IN THIS SECTION.
  2. THE COMMISSIONER, AFTER REVIEW OF THE PROGRAMMATIC AND FISCAL NEEDS
AND  RESOURCES  OF  THE PROJECT AND THE LIBRARY OR LIBRARY SYSTEM, SHALL
MAKE A DETERMINATION, SUBJECT TO THE RESTRICTIONS, LIMITATIONS,  RESPON-
SIBILITIES  AND  REQUIREMENTS OF THIS SECTION, AS TO THE AMOUNT OF STATE
FINANCIAL ASSISTANCE THAT THE LIBRARY OR LIBRARY SYSTEM MAY RECEIVE  FOR
ANY  AMOUNT  UP  TO  AND  INCLUDING  THE AMOUNT OF FIVE HUNDRED THOUSAND
DOLLARS. ANY FINANCIAL  ASSISTANCE  MAY  BE  PROVIDED  FROM  THE  PUBLIC

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01581-01-9
              

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