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 ==============
