Bill Text: NY A03002 | 2021-2022 | General Assembly | Amended
Bill Title: Makes appropriations for the support of government - State Debt Budget.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2021-03-31 - substituted by s2502b [A03002 Detail]
Download: New_York-2021-A03002-Amended.html
STATE OF NEW YORK ________________________________________________________________________ S. 2502--B A. 3002--B SENATE - ASSEMBLY January 19, 2021 ___________ IN SENATE -- A BUDGET BILL, submitted by the Governor pursuant to arti- cle seven of the Constitution -- read twice and ordered printed, and when printed to be committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee IN ASSEMBLY -- A BUDGET BILL, submitted by the Governor pursuant to article seven of the Constitution -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT making appropriations for the legal requirements of the state debt service and lease purchase payments and other special contractual obligations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The several sums specified in this section, or so much 2 thereof as may be sufficient to accomplish in full the purposes desig- 3 nated by the appropriations, are hereby appropriated to be paid as here- 4 in provided for the funds and purposes specified and are made available 5 for the fiscal year beginning April 1, 2021. 6 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND 7 Maintenance undistributed 8 For the legal requirements of principal, interest, and 9 related expenses on general obligation bonds, special 10 contractual and revenue bond obligations, as issued 11 pursuant to articles 5-C and 5-F of the state finance 12 law and payments for interest rate exchange and similar 13 agreements, in accordance with the following schedule . 14,065,000,000 14 ============== EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD12552-04-1S. 2502--B 2 A. 3002--B 1 SCHEDULE 2 GENERAL OBLIGATION PAYMENTS 3 The sum of $502,500,000, or so much thereof as may be 4 necessary, is hereby appropriated for payment by the 5 state comptroller for general obligation bonds issued in 6 connection with pure waters, environmental quality, 7 transportation capital facilities, rail preservation, 8 outdoor recreation development, energy conservation 9 through improved transportation, parks and recreation 10 land acquisition, rebuild New York through transporta- 11 tion infrastructure renewal, accelerated capacity and 12 transportation improvements of the nineties, clean 13 water/clean air, rebuild and renew New York transporta- 14 tion, and smart schools purposes, in accordance with the 15 following schedule ....................................... 502,500,000 16 -------------- 17 SCHEDULE 18 Debt Service Funds 19 General Debt Service Fund 20 General Debt Service Fund - 40150 21 Debt service payments (85551) (60400) ........ 500,000,000 22 Related expenses (80467) (51000) ............... 2,500,000 23 -------------- 24 Total of schedule .......................... 502,500,000 25 ============== 26 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 27 The several sums, or so much thereof as may be sufficient 28 to accomplish in full the purposes designated by the 29 appropriations, are hereby appropriated and are, subject 30 to the issuance of certificates of approval of avail- 31 ability by the director of the budget, available for the 32 purpose of making payments for special contractual obli- 33 gations, in accordance with the following schedule ..... 2,510,000,000 34 -------------- 35 SCHEDULE 36 Debt Service Funds 37 General Debt Service Fund 38 Debt Service Lease Payments Fund - 40151 39 For payment to the Housing Finance Agency 40 and the Urban Development Corporation for 41 payment of bonds issued to finance the 42 State's housing programs (80452) (60400) .... 10,000,000 43 For payment to the Dormitory Authority or 44 Urban Development Corporation for the 45 Payment of principal and interest related 46 to any credit facilities entered into by 47 such authorities pursuant to an agreement 48 or agreements between the DormitoryS. 2502--B 3 A. 3002--B 1 Authority or Urban Development Corporation 2 and the State (85552) (60400) ............ 2,000,000,000 3 For payment to the State University 4 Construction Fund, for payment to the 5 Dormitory Authority, pursuant to paragraph 6 (e) of subdivision 19 of section 1680 of 7 the public authorities law, to pay for 8 bonds or notes issued by such authority, 9 pursuant to agreements between the State 10 University Construction Fund, State 11 University of New York and the Dormitory 12 Authority, relating to State University 13 education facilities. Notwithstanding the 14 provisions of section 40 of the state 15 finance law or any other provision of law 16 to the contrary, this appropriation shall 17 remain in full force and effect until 18 April 30, 2022 (80450) (60400) ............. 200,000,000 19 For payment to the State University 20 Construction Fund, for payment to the 21 Dormitory Authority, in accordance with 22 subdivision 8 of section 6304 of the 23 education law, for bonds, notes, or other 24 obligations issued by such authority, 25 pursuant to an agreement or agreements 26 among the State University of New York, 27 various community colleges and their spon- 28 sors, and the Dormitory Authority for 29 educational facilities of community 30 colleges (80449) (60400) .................... 20,000,000 31 For payment to the City University 32 Construction Fund for City University 33 senior colleges and for community 34 colleges. Moneys hereby appropriated, or 35 portions thereof, are for payments net of 36 all interest and investment earnings on 37 senior and community college payments and 38 other excess earnings held by the City 39 University Construction Fund, in accord- 40 ance with the following sub-schedule 41 (80622) (60400) ............................ 110,000,000 42 sub-schedule 43 City University senior 44 colleges ..................... 100,000,000 45 City University community 46 colleges ...................... 10,000,000 47 -------------- 48 Total of sub-schedule ........ 110,000,000 49 -------------- 50 For payment according to the following sub- 51 schedule for bonds issued to finance 52 consolidated service contract refundings 53 (80623) (60400) ............................. 60,000,000S. 2502--B 4 A. 3002--B 1 -------------- 2 sub-schedule 3 Urban Development Corporation ... 50,000,000 4 Dormitory Authority ............. 10,000,000 5 -------------- 6 Total of sub-schedule ......... 60,000,000 7 -------------- 8 Total of debt service schedule ............. 2,400,000,000 9 -------------- 10 For payment of related expenses in accord- 11 ance with the following schedule ........... 110,000,000 12 -------------- 13 SCHEDULE 14 Debt Service Funds 15 General Debt Service Fund 16 Debt Service Lease Payments - 40151 17 Urban Development Corporation (80431) 18 (51000) ...................................... 2,000,000 19 Housing Finance Agency (80430) (51000) ........... 500,000 20 Dormitory Authority (80634) (51000) ............ 2,500,000 21 Dormitory Authority Capital Expenses (80635) 22 (51000) ..................................... 30,000,000 23 Expenses related to any credit facilities 24 entered into by such authorities (85552) 25 (51000) ..................................... 75,000,000 26 -------------- 27 Total of schedule ............................ 110,000,000 28 -------------- 29 Total of schedules ......................... 2,510,000,000 30 ============== 31 REVENUE BOND FINANCING AGREEMENT PAYMENTS 32 The several sums, or so much thereof as may be necessary, 33 are hereby appropriated for payment to the dormitory 34 authority, the environmental facilities corporation, the 35 housing finance agency, the thruway authority, and the 36 urban development corporation and are, subject to the 37 issuance of certificates of approval of availability by 38 the director of the budget, available for the purpose of 39 making financing agreement payments related to personal 40 income tax revenue note and bond obligations, as author- 41 ized pursuant to article 5-C of the state finance law 42 and in accordance with the following schedule .......... 9,050,000,000 43 -------------- 44 SCHEDULE 45 Debt Service FundsS. 2502--B 5 A. 3002--B 1 General Debt Service Fund 2 Revenue Bond Tax Fund - 40152 3 Debt Service Payment (80364) (60400) ....... 6,000,000,000 4 Subordinate Note Payments (80364) (60400) .. 3,000,000,000 5 Related Expenses (80602) (51000) .............. 50,000,000 6 -------------- 7 Total of schedule .......................... 9,050,000,000 8 ============== 9 REVENUE BOND FINANCING AGREEMENT PAYMENTS 10 The several sums, or so much thereof as may be necessary, 11 are hereby appropriated for payment to the dormitory 12 authority, the thruway authority, and the urban develop- 13 ment corporation and are, subject to the issuance of 14 certificates of approval of availability by the director 15 of the budget, available for the purpose of making 16 financing agreement payments related to sales tax reven- 17 ue bond obligations, as authorized pursuant to article 18 5-F of the state finance law and in accordance with the 19 following schedule ..................................... 2,002,500,000 20 -------------- 21 SCHEDULE 22 Debt Service Funds 23 General Debt Service Fund 24 Sales Tax Revenue Bond Tax Fund - 40154 25 Debt Service Payments (80364) (60400) ...... 2,000,000,000 26 Related Expenses (80602) (51000) ............... 2,500,000 27 -------------- 28 Total of schedule .......................... 2,002,500,000 29 ============== 30 Total of schedule ....................................... 14,065,000,000 31 ============== 32 DEBT SERVICE FUND--HOUSING DEBT FUND 33 Debt Service Funds 34 Housing Debt Fund 35 Housing Debt Fund - 40250 36 GENERAL OBLIGATION PAYMENTS 37 The sum of $5,500,000, or so much thereof as may be neces- 38 sary, is hereby appropriated for payment by the state 39 comptroller of principal and interest on general obli- 40 gation bonds issued in connection with state housing 41 (low cost, middle income and urban renewal) (85551) 42 (60400) .................................................... 5,500,000 43 ==============S. 2502--B 6 A. 3002--B 1 DEBT SERVICE FUND--HEALTH INCOME FUND 2 For debt service and related expenses in accordance with 3 the following schedule .................................... 36,000,000 4 -------------- 5 SCHEDULE 6 Debt Service Funds 7 Department of Health Income Fund 8 NYC Veterans' Home Income Fund - 40302 9 The sum of $3,000,000, or so much thereof as 10 may be necessary of operating revenues 11 received from the New York City Veterans' 12 Home, is hereby appropriated for payment 13 by the state comptroller of all obli- 14 gations under the terms of agreements 15 between the health department and the 16 dormitory authority (80426) (60400) .......... 3,000,000 17 Debt Service Funds 18 Department of Health Income Fund 19 Health Income Fund - 40301 20 The sum of $27,000,000, or so much thereof 21 as may be necessary of operating revenues 22 received from department of health facili- 23 ties other than the New York City Veter- 24 ans' Home, is hereby appropriated for 25 payment by the state comptroller of all 26 obligations under the terms of agreements 27 between the health department and the 28 dormitory authority (80427) (60400) ......... 27,000,000 29 Related expenses (80425) (51000) ............... 3,000,000 30 Capital expenses (80424) (51000) ............... 3,000,000 31 -------------- 32 Total of schedule ........................... 36,000,000 33 ============== 34 DEBT SERVICE FUND--MENTAL HEALTH SERVICES FUND 35 The sum of $52,000,000, or so much thereof as may be 36 necessary, is hereby appropriated for payment by the 37 state comptroller of all obligations of the dormitory 38 authority, as successor to the facilities development 39 corporation and the medical care facilities finance 40 agency pursuant to chapter 83 of the laws of 1995, under 41 the terms of any lease, sublease, or other financing 42 agreement with the department of mental hygiene, in 43 accordance with the following schedule .................... 52,000,000 44 -------------- 45 SCHEDULE 46 Debt Service FundsS. 2502--B 7 A. 3002--B 1 Mental Health Services Fund 2 Debt Service Reserve Fund - 40102 3 Debt service payments (80421) (60400) ......... 50,000,000 4 Related expenses (80421) (51000) ............... 2,000,000 5 -------------- 6 Total of schedule ............................. 52,000,000 7 ============== 8 DEBT SERVICE FUND--LOCAL GOVERNMENT ASSISTANCE TAX FUND 9 The sum of $11,000,000, or so much thereof as may be 10 necessary, is hereby appropriated for payment of all 11 obligations, including but not limited to reserve fund 12 credit facilities, to the local government assistance 13 corporation pursuant to a certificate or certificates 14 filed by the chairman of the corporation with the state 15 comptroller and the governor, pursuant to subdivision 1 16 of section 3240 of the public authorities law, in 17 accordance with the following schedule .................... 11,000,000 18 -------------- 19 SCHEDULE 20 Debt Service Funds 21 Local Government Assistance Tax Fund 22 LGATF-Debt Service Fund - 40452 23 Debt service payments (80420) (60400) ......... 10,000,000 24 Related expenses (80420) (51000) ............... 1,000,000 25 -------------- 26 Total of schedule ............................. 11,000,000 27 ============== 28 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES 29 FINANCING RESERVE FUND 30 The sum of $5,000,000, or so much thereof as may be neces- 31 sary, is hereby appropriated for payment by the state 32 comptroller to the dormitory authority for the purpose 33 of meeting the terms of any contractual agreements 34 between the dormitory authority and participating 35 special act school districts listed in chapter 566 of 36 the laws of 1967, as amended, state-supported schools 37 for blind and deaf students and children with other 38 handicapping conditions pursuant to article 85 of the 39 education law, and private not-for-profit schools 40 approved by the commissioner of education pursuant to 41 article 89 of the education law, in accordance with the 42 following schedule ......................................... 5,000,000 43 -------------- 44 SCHEDULE 45 Fiduciary Funds 46 School Capital Facilities Financing Reserve FundS. 2502--B 8 A. 3002--B 1 School Capital Facilities Financing Reserve Fund - 60050 2 Debt service payments (80418) (60400) .......... 4,000,000 3 Related expenses (80418) (51000) ................. 500,000 4 Capital expenses (80417) (51000) ................. 500,000 5 -------------- 6 Total of schedule .............................. 5,000,000 7 ============== 8 DEDICATED HIGHWAY AND BRIDGE TRUST FUND--SPECIAL 9 OBLIGATION RESERVE AND PAYMENT ACCOUNT 10 The sum of $200,500,000 or so much thereof as may be 11 necessary, is hereby appropriated to pay for bonds or 12 notes as required under dedicated highway and bridge 13 trust fund cooperative agreements under section 10-e of 14 the highway law, in accordance with the following sched- 15 ule ...................................................... 200,500,000 16 -------------- 17 SCHEDULE 18 Capital Projects Funds - Other 19 Dedicated Highway and Bridge Trust Fund 20 Special Obligation and Payment Account - 30052 21 Debt service payments (80416) (60400) ........ 200,000,000 22 Related expenses (80416) (51000) ................. 500,000 23 -------------- 24 Total of schedule ............................ 200,500,000 25 ============== 26 DEBT REDUCTION RESERVE FUND 27 Debt Service Funds 28 Debt Reduction Reserve Fund 29 Debt Reduction Reserve Fund - 40001 30 The sum of $500,000,000, or so much thereof as may be 31 necessary, is hereby appropriated from the debt 32 reduction reserve fund for the purposes of principal, 33 interest, and related expenses, for retiring or defeas- 34 ing bonds previously issued, including any accrued 35 interest or other expenses related thereto, for any 36 state-related bonding program or programs and for trans- 37 fer, upon request of the director of the budget, to 38 various capital projects funds as designated by the 39 director of the budget for the funding of capital 40 projects, equipment acquisitions, or similar expenses 41 which have been authorized by law to be financed through 42 the issuance of bonds, notes, or other obligations 43 (80415) (60400) .......................................... 500,000,000 44 ==============S. 2502--B 9 A. 3002--B 1 CONTINGENT AND OTHER APPROPRIATIONS 2 § 2. The several sums specified in this section, or so much thereof as 3 may be sufficient to accomplish in full the purposes designated by the 4 appropriations, are hereby appropriated to be paid as herein provided 5 for the funds and purposes specified and are made available for the 6 fiscal year beginning April 1, 2021. 7 GENERAL FUND--STATE PURPOSES ACCOUNT 8 General Fund 9 State Purposes Account - 10050 10 The sum of $20,000,000, or so much thereof as may be 11 necessary, is hereby appropriated from the general fund 12 to the credit of the state purposes account solely for 13 the purpose of making payments of rebates to the federal 14 government to maintain the exemption from federal income 15 taxation of the interest paid to the holders of state 16 obligations issued pursuant to sections 55 and 57 of the 17 state finance law (80414) (51000) ......................... 20,000,000 18 ============== 19 General Fund 20 State Purposes Account - 10050 21 The sum of $225,000,000, or so much thereof as may be 22 necessary, is hereby appropriated from the general fund 23 to the credit of the state purposes account solely for 24 the purpose of redeeming general obligation bonds issued 25 by the state of New York, provided, however, that the 26 amount to be expended from this appropriation shall be 27 limited to the amount, as determined by the comptroller, 28 to be necessary to maintain the exemption from federal 29 taxation of the interest paid to the holders of state 30 obligations issued pursuant to sections 55 and 57 of the 31 state finance law (80413) (60400) ........................ 225,000,000 32 ============== 33 ALL FUNDS 34 For payment of principal and interest, including but not 35 limited to reserve fund credit facilities on variable 36 rate obligations and interest rate exchange and similar 37 agreements, for state-supported debt or for transfer to 38 any other appropriation, in accordance with the follow- 39 ing schedule ........................................... 1,250,000,000 40 -------------- 41 SCHEDULE 42 All FundsS. 2502--B 10 A. 3002--B 1 Debt service payments (80626) (60400) ........ 800,000,000 2 Related expenses (80626) (51000) .............. 50,000,000 3 Interest rate exchange and similar agree- 4 ments (80359) (60400) ...................... 400,000,000 5 -------------- 6 Total of schedule .......................... 1,250,000,000 7 ============== 8 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND 9 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 10 For payment to the dormitory authority, as successor to 11 the medical care facilities finance agency pursuant to 12 chapter 83 of the laws of 1995, for payment of principal 13 interest, and related expenses on bonds or notes issued 14 pursuant to the provisions of section 7-a of the New 15 York state medical care facilities finance agency act, 16 as amended, which provide that the service contract 17 payments will be made to meet the debt service payments 18 due if the funds and accounts established under the bond 19 resolution, the secured hospital debt service reserve 20 fund, and the secured hospital capital reserve fund are 21 inadequate, in accordance with the following schedule ..... 41,000,000 22 -------------- 23 SCHEDULE 24 Debt Service Funds 25 General Debt Service Fund 26 Debt Service Lease Payments - 40151 27 Debt service payments (80412) (60400) ......... 40,000,000 28 Related expenses (80412) (51000) ............... 1,000,000 29 -------------- 30 Total of schedule ............................. 41,000,000 31 ==============
