Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 17, 2012 |
referred to local government |
Senate Bill S6234
2011-2012 Legislative Session
Sponsored By
(R, C, IP) 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
2011-S6234 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9184
- Current Committee:
- Senate Local Government
- Law Section:
- Local Finance Law
- Laws Affected:
- Amd §26.10, Loc Fin L
2011-S6234 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6234 TITLE OF BILL: An act to amend the local finance law, in relation to temporary alternative methods of financing flood relief expenses PURPOSE: This legislation allows municipalities who were subject to extraordinary flood relief expenses to issue serial bonds to provide for the payment of all or part of extraordinary expenses, SUMMARY OF PROVISIONS: Sections 1 & 2. Amends paragraph a of section 26,10 of the local finance law, as amended by chapter 157 of the laws of 2006 to enable municipalities to issue serial bonds to be repaid over 5 years, for the extraordinary flood expenses. This bill changes the dates set tenth in 2006 to make the law applicable to the storm and floods which occurred in 2011 and caused damages in cities, towns, villages and school districts. Section 3. Effective Date. JUSTIFICATION: Many municipalities throughout New York State were severely impacted by flooding following Hurricane Irene and Tropical Storm Lee in
2011-S6234 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6234 I N S E N A T E January 17, 2012 ___________ Introduced by Sen. BONACIC -- 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 temporary alterna- tive methods of financing flood relief expenses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph a of section 26.10 of the local finance law, as amended by chapter 157 of the laws of 2006, is amended to read as follows: a. Definitions. 1. With respect to any municipality which has a calen- dar fiscal year which commenced on the first day of January, two thou- sand [five] ELEVEN, the terms "extraordinary expenses for flood relief" and "such extraordinary expenses", as used in this section, shall mean the expenses incurred for flood relief projects involving the public thoroughfares, public places and projects of such municipality during any or all of the months of such year, in excess of the normal expenses which would have been incurred for such purposes during such periods as determined by the finance board of such municipality and also any inter- est payments on revenue anticipation notes issued in anticipation of the receipt of moneys from the state or federal government pursuant to any state or federal disaster relief act. In making any such determination, the finance board shall not include as a part of such extraordinary expenses the salaries and wages of regular employees, except for over- time work and work on Sundays and holidays. 2. With respect to any municipality or school district which has a fiscal year which commenced in the year two thousand [five] ELEVEN on or after the first day of March in such year, the terms "extraordinary expenses for flood relief projects" and "such extraordinary expenses", as used in this section, shall mean the expense incurred for flood relief projects involving the public thoroughfares, public places and projects of such municipality or school district during such fiscal year, in excess of the amounts appropriated for such purposes in the annual budget for such fiscal year, or, if no such appropriations were made, then in excess of the average of all expenditures for such EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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