NY S05656 | 2023-2024 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on June 4 2024 - 50% progression
Action: 2024-06-04 - referred to local governments
Pending: Assembly Local Governments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Engrossed on June 4 2024 - 50% progression
Action: 2024-06-04 - referred to local governments
Pending: Assembly Local Governments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.
Title
Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.
Sponsors
Roll Calls
2024-06-04 - Senate - Senate Floor Vote - Final Passage (Y: 61 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-29 - Senate - Senate Local Government Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2023-04-17 - Senate - Senate Local Government Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2024-01-29 - Senate - Senate Local Government Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
2023-04-17 - Senate - Senate Local Government Committee Vote (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-06-04 | Assembly | referred to local governments |
| 2024-06-04 | Senate | DELIVERED TO ASSEMBLY |
| 2024-06-04 | Senate | PASSED SENATE |
| 2024-01-31 | Senate | ADVANCED TO THIRD READING |
| 2024-01-30 | Senate | 2ND REPORT CAL. |
| 2024-01-29 | Senate | 1ST REPORT CAL.242 |
| 2024-01-03 | Senate | REFERRED TO LOCAL GOVERNMENT |
| 2023-04-17 | Senate | REPORTED AND COMMITTED TO FINANCE |
| 2023-03-10 | Senate | REFERRED TO LOCAL GOVERNMENT |
Same As/Similar To
A01463 (Same As) 2024-01-03 - referred to local governments
