New York Senate Bill 5656

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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]

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.

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.

Sen. Monica Martinez [D]

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]

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

A01463 (Same As) 2024-01-03 - referred to local governments

Type	Source
Summary	https://www.nysenate.gov/legislation/bills/2023/S5656
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S05656&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05656
Roll Call	https://www.nysenate.gov/legislation/bills/2023/S5656#SC1
Roll Call	https://www.nysenate.gov/legislation/bills/2023/S5656#SC2
Roll Call	https://www.nysenate.gov/legislation/bills/2023/S5656#SF1