Bill Text: NY A08552 | 2013-2014 | General Assembly | Introduced
Bill Title: Makes appropriations for the support of government - State Debt Service Budget.
Spectrum: Committee Bill
Status: (Introduced - Dead) 2014-03-19 - substituted by s6352 [A08552 Detail]
Download: New_York-2013-A08552-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 6352 A. 8552 S E N A T E - A S S E M B L Y January 21, 2014 ___________ 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 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 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, 2014. 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 .. 5,381,200,000 14 ============== EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. S. 6352 2 A. 8552 1 SCHEDULE 2 GENERAL OBLIGATION PAYMENTS 3 The sum of $482,500,000, 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 higher education construction, pure 7 waters, environmental quality, transportation capital 8 facilities, rail preservation, outdoor recreation devel- 9 opment, energy conservation through improved transporta- 10 tion, parks and recreation land acquisition, rebuild New 11 York through transportation infrastructure renewal and 12 accelerated capacity and transportation improvements of 13 the nineties, clean water/clean air, and rebuild and 14 renew New York transportation purposes, in accordance 15 with the following sub-schedule .......................... 482,500,000 16 -------------- 17 sub-schedule 18 Debt service payments ...................................... 480,000,000 19 Related expenses ............................................. 2,500,000 20 -------------- 21 Total of sub-schedule ...................................... 482,500,000 22 ============== 23 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 24 The several sums, or so much thereof as may be sufficient 25 to accomplish in full the purposes designated by the 26 appropriations, are hereby appropriated and are, subject 27 to the issuance of certificates of approval of avail- 28 ability by the director of the budget, available for the 29 purpose of making payments for special contractual obli- 30 gations, in accordance with the following schedule ..... 1,325,700,000 31 -------------- 32 SCHEDULE 33 For payment to the Urban Development Corpo- 34 ration pursuant to the provisions of an 35 agreement or agreements of lease and 36 sublease entered into between, but not 37 limited to, the Urban Development Corpo- 38 ration, the Office of General Services and 39 the Department of Correctional Services 40 for the rental of correctional facilities ... 21,000,000 41 For payment according to the following sub- 42 schedule to the Urban Development Corpo- 43 ration for project revenue bonds, pursuant 44 to the provisions of certain agreements of 45 lease between the entities designated on 46 the following sub-schedule and the state 47 of New York and the assignment of rent 48 thereof to the Urban Development Corpo- 49 ration ...................................... 11,300,000 S. 6352 3 A. 8552 1 sub-schedule 2 Syracuse University (Science 3 and Technology Center) ......... 2,800,000 4 Cornell University (Supercom- 5 puter Center) .................... 700,000 6 Columbia University (Telecom- 7 munications Center) ............ 4,800,000 8 Clarkson University .............. 1,100,000 9 University Grants 95 Refunding ... 1,900,000 10 -------------- 11 Total of sub-schedule ......... 11,300,000 12 -------------- 13 For payment to the Dormitory Authority, for 14 payment of bonds issued to finance the 15 Department of Health's David Axelrod 16 Institute for Public Health, pursuant to 17 the provisions of an agreement between the 18 Dormitory Authority and the Department of 19 Health ....................................... 6,000,000 20 For payment to the Dormitory Authority, for 21 payment of bonds issued to finance State 22 Department of Education facilities, pursu- 23 ant to an agreement between the Dormitory 24 Authority and the State Education Depart- 25 ment ......................................... 5,500,000 26 For payment to the Housing Finance Agency 27 and the Urban Development Corporation for 28 payment of bonds issued to finance the 29 State's housing programs .................... 39,000,000 30 For payment to the Metropolitan Transporta- 31 tion Authority, pursuant to state service 32 contracts authorized by section 16 of 33 chapter 314 of the laws of 1981, section 34 42 of chapter 929 of the laws of 1986, as 35 amended by chapter 13 of the laws of 1987, 36 and section 34 of part O of chapter 61 of 37 the laws of 2000 ............................ 82,000,000 38 For payment to the State University 39 Construction Fund, for payment to the 40 Dormitory Authority, pursuant to paragraph 41 (e) of subdivision 19 of section 1680 of 42 the public authorities law, to pay for 43 bonds or notes issued by such authority, 44 pursuant to agreements between the State 45 University Construction Fund, State 46 University of New York and the Dormitory 47 Authority, relating to State University 48 education facilities. Notwithstanding the 49 provisions of section 40 of the state 50 finance law or any other provision of law 51 to the contrary, this appropriation shall 52 remain in full force and effect until 53 April 30, 2015 ............................. 240,000,000 S. 6352 4 A. 8552 1 For payment to the State University 2 Construction Fund, for payment to the 3 Dormitory Authority, in accordance with 4 subdivision 8 of section 6304 of the 5 education law, for bonds, notes, or other 6 obligations issued by such authority, 7 pursuant to an agreement or agreements 8 among the State University of New York, 9 various community colleges and their spon- 10 sors, and the Dormitory Authority for 11 educational facilities of community 12 colleges .................................... 30,000,000 13 For payment to the City University Construc- 14 tion Fund for City University senior 15 colleges and for community colleges. 16 Moneys hereby appropriated, or portions 17 thereof, are for payments net of all 18 interest and investment earnings on senior 19 and community college payments and other 20 excess earnings held by the City Universi- 21 ty Construction Fund, in accordance with 22 the following sub-schedule ................. 194,000,000 23 sub-schedule 24 City University senior 25 colleges ..................... 170,000,000 26 City University community 27 colleges ...................... 24,000,000 28 -------------- 29 Total of sub-schedule ........ 194,000,000 30 -------------- 31 For payment to the Dormitory Authority, 32 pursuant to the provisions of a service 33 contract or contracts, for payment of 34 bonds or notes issued for the financing of 35 projects at the Albany County Airport ........ 4,000,000 36 For payment to the Dormitory Authority and 37 the Urban Development Corporation for 38 bonds issued for one or more facilities 39 provided for the department of audit and 40 control, the New York state and local 41 employees' retirement system, and the New 42 York state and local police and fire 43 retirement system and on behalf of the 44 departments or agencies having occupancy 45 or use of other state facilities and park- 46 ing facilities ............................... 1,200,000 47 For payment to the Thruway Authority, pursu- 48 ant to section 380 of the public authori- 49 ties law, to pay for Local Highway and 50 Bridge Service Contract bonds or notes 51 issued by such authority pursuant to an 52 agreement between the Thruway Authority 53 and the state .............................. 190,000,000 S. 6352 5 A. 8552 1 For payment to the Environmental Facilities 2 Corporation, pursuant to subdivision 1 of 3 section 1290 of the public authorities 4 law, to pay for bonds or notes issued by 5 such authority pursuant to a lease agree- 6 ment between the Environmental Facilities 7 Corporation and the Office of Parks, 8 Recreation and Historic Preservation 9 relating to the financing of Riverbank 10 State Park ................................... 5,200,000 11 For payment to the Environmental Facilities 12 Corporation for bonds and notes issued by 13 such authority, pursuant to an agreement 14 between the Environmental Facilities 15 Corporation and the Office of Mental 16 Health relating to the financing of a 17 Waste water treatment facility for Pilgrim 18 Psychiatric Center ........................... 1,000,000 19 For payment according to the following sub- 20 schedule for bonds issued to finance 21 consolidated service contract refundings ... 475,000,000 22 -------------- 23 sub-schedule 24 Urban Development Corporation .. 385,000,000 25 Dormitory Authority ............. 80,000,000 26 Thruway Authority ............... 10,000,000 27 -------------- 28 Total of sub-schedule ........ 475,000,000 29 -------------- 30 Total of debt service schedule ............. 1,305,200,000 31 -------------- 32 For payment of related expenses in accord- 33 ance with the following schedule. 34 SCHEDULE 35 Urban Development Corporation .................. 2,000,000 36 Housing Finance Agency ......................... 2,000,000 37 Dormitory Authority ............................ 7,500,000 38 Dormitory Authority Capital Expenses ........... 8,500,000 39 Environmental Facilities Corporation ............. 200,000 40 Thruway Authority ................................ 300,000 41 -------------- 42 Total of related expenses schedule ............ 20,500,000 43 -------------- 44 Total of schedules ......................... 1,325,700,000 45 ============== 46 REVENUE BOND FINANCING AGREEMENT PAYMENTS 47 The several sums, or so much thereof as may 48 be necessary, are hereby appropriated for S. 6352 6 A. 8552 1 payment to the dormitory authority, the 2 environmental facilities corporation, the 3 housing finance agency, the thruway 4 authority, and the urban development 5 corporation and are, subject to the issu- 6 ance of certificates of approval of avail- 7 ability by the director of the budget, 8 available for the purpose of making 9 financing agreement payments related to 10 personal income tax revenue bond obli- 11 gations, as authorized pursuant to article 12 5-C of the state finance law and in 13 accordance with the following schedule ... 3,420,000,000 14 -------------- 15 SCHEDULE 16 Debt Service Payment ....................... 3,400,000,000 17 Related Expenses .............................. 20,000,000 18 -------------- 19 Total of schedule .......................... 3,420,000,000 20 ============== 21 REVENUE BOND FINANCING AGREEMENT PAYMENTS 22 The several sums, or so much thereof as may 23 be necessary, are hereby appropriated for 24 payment to the dormitory authority, the 25 thruway authority, and the urban develop- 26 ment corporation and are, subject to the 27 issuance of certificates of approval of 28 availability by the director of the bud- 29 get, available for the purpose of making 30 financing agreement payments related to 31 sales tax revenue bond obligations, as 32 authorized pursuant to article 5-F of the 33 state finance law and in accordance with 34 the following schedule ..................... 153,000,000 35 -------------- 36 SCHEDULE 37 Debt Service Payments ........................ 150,000,000 38 Related Expenses ............................... 3,000,000 39 -------------- 40 Total of schedule ............................ 153,000,000 41 ============== 42 Total of schedule ........................................ 5,381,200,000 43 ============== 44 DEBT SERVICE FUND--HOUSING DEBT FUND 45 GENERAL OBLIGATION PAYMENTS 46 The sum of $10,000,000, or so much thereof as may be 47 necessary, is hereby appropriated for payment by the 48 state comptroller of principal and interest on general S. 6352 7 A. 8552 1 obligation bonds issued in connection with state housing 2 (low cost, middle income and urban renewal) ............... 10,000,000 3 ============== 4 DEBT SERVICE FUND--HEALTH INCOME FUND 5 For debt service and related expenses in accordance with 6 the following schedule .................................... 33,500,000 7 -------------- 8 SCHEDULE 9 The sum of $29,000,000, or so much thereof as may be 10 necessary of operating revenues received from department 11 of health facilities other than the New York City Veter- 12 ans' Home, is hereby appropriated for payment by the 13 state comptroller of all obligations under the terms of 14 agreements between the health department and the dormi- 15 tory authority ............................................ 29,000,000 16 The sum of $2,000,000, or so much thereof as may be neces- 17 sary of operating revenues received from the New York 18 City Veterans' Home, is hereby appropriated for payment 19 by the state comptroller of all obligations under the 20 terms of agreements between the health department and 21 the dormitory authority .................................... 2,000,000 22 Related expenses ............................................. 1,000,000 23 Capital expenses ............................................. 1,500,000 24 -------------- 25 Total of schedule ......................................... 33,500,000 26 ============== 27 DEBT SERVICE FUND--MENTAL HEALTH SERVICES FUND 28 The sum of $298,000,000, or so much thereof as may be 29 necessary, is hereby appropriated for payment by the 30 state comptroller of all obligations of the dormitory 31 authority, as successor to the facilities development 32 corporation and the medical care facilities finance 33 agency pursuant to chapter 83 of the laws of 1995, under 34 the terms of any lease, sublease, or other financing 35 agreement with the department of mental hygiene, in 36 accordance with the following schedule ................... 298,000,000 37 -------------- 38 SCHEDULE 39 Debt service payments ...................................... 290,000,000 40 Related expenses ............................................. 8,000,000 41 -------------- 42 Total of schedule .......................................... 298,000,000 43 ============== 44 DEBT SERVICE FUND--LOCAL GOVERNMENT ASSISTANCE TAX FUND 45 The sum of $405,500,000, or so much thereof as may be 46 necessary, is hereby appropriated for payment of all S. 6352 8 A. 8552 1 obligations, including but not limited to reserve fund 2 credit facilities, to the local government assistance 3 corporation pursuant to a certificate or certificates 4 filed by the chairman of the corporation with the state 5 comptroller and the governor, pursuant to subdivision 1 6 of section 3240 of the public authorities law, in 7 accordance with the following schedule ................... 405,500,000 8 -------------- 9 SCHEDULE 10 Debt service payments ...................................... 400,000,000 11 Related expenses ............................................. 5,500,000 12 -------------- 13 Total of schedule .......................................... 405,500,000 14 ============== 15 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES 16 FINANCING RESERVE FUND 17 The sum of $25,600,000, or so much thereof as may be 18 necessary, is hereby appropriated for payment by the 19 state comptroller to the dormitory authority for the 20 purpose of meeting the terms of any contractual agree- 21 ments between the dormitory authority and participating 22 special act school districts listed in chapter 566 of 23 the laws of 1967, as amended, state-supported schools 24 for blind and deaf students and children with other 25 handicapping conditions pursuant to article 85 of the 26 education law, and private not-for-profit schools 27 approved by the commissioner of education pursuant to 28 article 89 of the education law, in accordance with the 29 following schedule ........................................ 25,600,000 30 -------------- 31 SCHEDULE 32 Debt service payments ....................................... 25,000,000 33 Related expenses ............................................... 300,000 34 Capital expenses ............................................... 300,000 35 -------------- 36 Total of schedule ........................................... 25,600,000 37 ============== 38 DEDICATED HIGHWAY AND BRIDGE TRUST FUND--SPECIAL 39 OBLIGATION RESERVE AND PAYMENT ACCOUNT 40 The sum of $820,300,000 or so much thereof as may be 41 necessary, is hereby appropriated to pay for bonds or 42 notes as required under dedicated highway and bridge 43 trust fund cooperative agreements under section 10-e of 44 the highway law, in accordance with the following sched- 45 ule ...................................................... 820,300,000 46 -------------- S. 6352 9 A. 8552 1 SCHEDULE 2 Debt service payments ...................................... 820,000,000 3 Related expenses ............................................... 300,000 4 -------------- 5 Total of schedule .......................................... 820,300,000 6 ============== 7 DEBT REDUCTION RESERVE FUND 8 The sum of $500,000,000, or so much thereof as may be 9 necessary, is hereby appropriated from the debt 10 reduction reserve fund for the purposes of principal, 11 interest, and related expenses, for retiring or defeas- 12 ing bonds previously issued, including any accrued 13 interest or other expenses related thereto, for any 14 state-related bonding program or programs and for trans- 15 fer, upon request of the director of the budget, to 16 various capital projects funds as designated by the 17 director of the budget for the funding of capital 18 projects, equipment acquisitions, or similar expenses 19 which have been authorized by law to be financed through 20 the issuance of bonds, notes, or other obligations ....... 500,000,000 21 ============== 22 CONTINGENT AND OTHER APPROPRIATIONS 23 S 2. The several sums specified in this section, or so much thereof as 24 may be sufficient to accomplish in full the purposes designated by the 25 appropriations, are hereby appropriated to be paid as herein provided 26 for the funds and purposes specified and are made available for the 27 fiscal year beginning April 1, 2014. 28 GENERAL FUND--STATE PURPOSES ACCOUNT 29 The sum of $20,000,000, or so much thereof as may be 30 necessary, is hereby appropriated from the general fund 31 to the credit of the state purposes account solely for 32 the purpose of making payments of rebates to the federal 33 government to maintain the exemption from federal income 34 taxation of the interest paid to the holders of state 35 obligations issued pursuant to sections 55 and 57 of the 36 state finance law ......................................... 20,000,000 37 ============== 38 The sum of $225,000,000, or so much thereof as may be 39 necessary, is hereby appropriated from the general fund 40 to the credit of the state purposes account solely for 41 the purpose of redeeming general obligation bonds issued 42 by the state of New York, provided, however, that the 43 amount to be expended from this appropriation shall be 44 limited to the amount, as determined by the comptroller, 45 to be necessary to maintain the exemption from federal 46 taxation of the interest paid to the holders of state 47 obligations issued pursuant to sections 55 and 57 of the 48 state finance law ........................................ 225,000,000 S. 6352 10 A. 8552 1 ============== 2 ALL FUNDS 3 For payment of principal and interest, including but not 4 limited to reserve fund credit facilities on variable 5 rate obligations and interest rate exchange and similar 6 agreements, for state-supported debt or for transfer to 7 any other appropriation, in accordance with the follow- 8 ing schedule ........................................... 1,400,000,000 9 -------------- 10 SCHEDULE 11 Debt service payments ...................................... 900,000,000 12 Related expenses ............................................ 50,000,000 13 Interest rate exchange and similar agreements .............. 450,000,000 14 -------------- 15 Total of schedule ........................................ 1,400,000,000 16 ============== 17 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND 18 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 19 For payment to the dormitory authority, as successor to 20 the medical care facilities finance agency pursuant to 21 chapter 83 of the laws of 1995, for payment of principal 22 interest, and related expenses on bonds or notes issued 23 pursuant to the provisions of section 7-a of the New 24 York state medical care facilities finance agency act, 25 as amended, which provide that the service contract 26 payments will be made to meet the debt service payments 27 due if the funds and accounts established under the bond 28 resolution, the secured hospital debt service reserve 29 fund, and the secured hospital capital reserve fund are 30 inadequate, in accordance with the following schedule ..... 66,000,000 31 -------------- 32 SCHEDULE 33 Debt service payments ....................................... 65,000,000 34 Related expenses ............................................. 1,000,000 35 -------------- 36 Total of schedule ........................................... 66,000,000 37 ============== 38 For payment to the tobacco settlement financing corpo- 39 ration, for payment of bonds or notes issued pursuant to 40 the provisions of part D3 of chapter 62 of the laws of 41 2003 which provides that contingency contract payments 42 will be made to meet the debt service payments due if 43 the funds and accounts established under the bond inden- 44 tures, the debt service accounts, the debt service 45 reserve accounts and the supplemental accounts are inad- 46 equate, in accordance with the following schedule ........ 236,000,000 47 -------------- S. 6352 11 A. 8552 1 SCHEDULE 2 Debt service payments ...................................... 235,000,000 3 Related expenses ............................................. 1,000,000 4 -------------- 5 Total of schedule .......................................... 236,000,000 6 ==============