Bill Text: NY A03616 | 2011-2012 | General Assembly | Introduced

---

Bill Title: Requires approval of the governing body of a city prior to the approval of payments in lieu of taxes for the repayment of debt.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2012-01-04 - referred to local governments [A03616 Detail]

Download: New_York-2011-A03616-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3616
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 26, 2011
                                      ___________
       Introduced  by  M. of A. BRENNAN, SPANO -- read once and referred to the
         Committee on Local Governments
       AN ACT to amend the general city law, in relation to requiring  approval
         of  the  governing body of a city prior to the approval of payments in
         lieu of taxes for the repayment of debt
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section 20 of the general city law is amended by adding a
    2  new subdivision 39 to read as follows:
    3    39. AND DIRECTED, THROUGH ITS LOCAL GOVERNING BOARD,  TO  APPROVE  ANY
    4  PAYMENT IN LIEU OF TAXES FOR THE PURPOSE OF REPAYMENT OF DEBT BEFORE ANY
    5  LOCAL  AGENCY OR AUTHORITY WHICH IS AUTHORIZED BY LAW TO ENTER INTO SUCH
    6  PAYMENT MAY APPROVE SUCH PAYMENT.
    7    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05434-01-1