New York Assembly Bill 8565 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on May 28 2009 - 25% progression, died in chamber
Action: 2010-06-29 - substituted by s4601a

This bill proposes to: extend the "roll over" period for bond anticipation notes; increase the cap from one million dollars to five million dollars for allowing certain bonds to be sold at private sale without limitation as to rate of interest; shorten the minimum notice of a change in the time or date for the opening of certain bids from 24 hours to 1 hour prior to the time originally sched- uled for the opening of bids; allow cash remitted by wire transfer to a specified account to be furnished as security as a condition precedent to the consideration of a bidders bid; and allow a municipality, school district or district corporation to issue deficiency notes during any fiscal year to finance a deficiency in any fund or funds arising from revenues being less than the amount estimated in the budget for the current fiscal year.

Provides that bond anticipation notes issued during calendar year 2004 or 2005 may not extend more than seven years beyond the original date of issue of such bond anticipation notes; relates to private sale of bonds; notice of sale of bonds; bid deposits for the public sale of bonds; authorizing municipalities, school districts and district corporations to issue deficiency notes.

Asm. Sam Hoyt [D]

Asm. Ellen Jaffee [D]

Date	Chamber	Action
2010-06-29		substituted by s4601a
2010-06-29		rules report cal.437
2010-06-29		reported
2010-06-29		reported referred to rules
2010-02-02		reported referred to ways and means
2010-01-06		referred to local governments
2009-06-18		print number 8565a
2009-06-18		amend and recommit to ways and means
2009-06-09		reported referred to ways and means
2009-05-28		referred to local governments

S04601 (Same As) 2010-08-13 - SIGNED CHAP.386

Type	Source
Summary	https://assembly.state.ny.us/leg/?default_fld=&bn=A08565&term=2009&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y