Bill Text: NY S02002 | 2015-2016 | General Assembly | Amended
Bill Title: Makes appropriations for the support of government - State Debt Service Budget.
Spectrum: Committee Bill
Status: (Passed) 2015-04-13 - SIGNED CHAP.52 [S02002 Detail]
Download: New_York-2015-S02002-Amended.html
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 2002--A A. 3002--A
S E N A T E - A S S E M B L Y
January 21, 2015
___________
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, 2015.
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 .. 5,897,200,000
14 ==============
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD12552-02-5
S. 2002--A 2 A. 3002--A
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 sub-schedule ................................... 502,500,000
16 --------------
17 sub-schedule
18 Debt service payments ...................................... 500,000,000
19 Related expenses ............................................. 2,500,000
20 --------------
21 Total of sub-schedule ...................................... 502,500,000
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 ..... 1,224,700,000
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. 2002--A 3 A. 3002--A
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 ......................................... 5,000,000
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 .................... 40,000,000
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 ............................ 85,000,000
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, 2016 ............................. 175,000,000
S. 2002--A 4 A. 3002--A
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 .................................... 15,000,000
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 ................. 240,000,000
23 sub-schedule
24 City University senior
25 colleges ..................... 210,000,000
26 City University community
27 colleges ...................... 30,000,000
28 --------------
29 Total of sub-schedule ........ 240,000,000
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 Thruway Authority, pursu-
37 ant to section 380 of the public authori-
38 ties law, to pay for Local Highway and
39 Bridge Service Contract bonds or notes
40 issued by such authority pursuant to an
41 agreement between the Thruway Authority
42 and the state .............................. 130,000,000
43 For payment to the Environmental Facilities
44 Corporation, pursuant to subdivision 1 of
45 section 1290 of the public authorities
46 law, to pay for bonds or notes issued by
47 such authority pursuant to a lease agree-
48 ment between the Environmental Facilities
49 Corporation and the Office of Parks,
50 Recreation and Historic Preservation
51 relating to the financing of Riverbank
52 State Park ................................... 5,200,000
S. 2002--A 5 A. 3002--A
1 For payment to the Environmental Facilities
2 Corporation for bonds and notes issued by
3 such authority, pursuant to an agreement
4 between the Environmental Facilities
5 Corporation and the Office of Mental
6 Health relating to the financing of a
7 Waste water treatment facility for Pilgrim
8 Psychiatric Center ........................... 1,200,000
9 For payment according to the following sub-
10 schedule for bonds issued to finance
11 consolidated service contract refundings ... 465,000,000
12 --------------
13 sub-schedule
14 Urban Development Corporation .. 370,000,000
15 Dormitory Authority ............. 85,000,000
16 Thruway Authority ............... 10,000,000
17 --------------
18 Total of sub-schedule ........ 465,000,000
19 --------------
20 Total of debt service schedule ............. 1,203,700,000
21 --------------
22 For payment of related expenses in accord-
23 ance with the following schedule.
24 SCHEDULE
25 Urban Development Corporation .................. 2,000,000
26 Housing Finance Agency ......................... 1,500,000
27 Dormitory Authority ............................ 7,500,000
28 Dormitory Authority Capital Expenses ........... 9,500,000
29 Environmental Facilities Corporation ............. 200,000
30 Thruway Authority ................................ 300,000
31 --------------
32 Total of related expenses schedule ............ 21,000,000
33 --------------
34 Total of schedules ......................... 1,224,700,000
35 ==============
36 REVENUE BOND FINANCING AGREEMENT PAYMENTS
37 The several sums, or so much thereof as may
38 be necessary, are hereby appropriated for
39 payment to the dormitory authority, the
40 environmental facilities corporation, the
41 housing finance agency, the thruway
42 authority, and the urban development
43 corporation and are, subject to the issu-
44 ance of certificates of approval of avail-
45 ability by the director of the budget,
46 available for the purpose of making
47 financing agreement payments related to
S. 2002--A 6 A. 3002--A
1 personal income tax revenue bond obli-
2 gations, as authorized pursuant to article
3 5-C of the state finance law and in
4 accordance with the following schedule ... 3,927,000,000
5 --------------
6 SCHEDULE
7 Debt Service Payment ....................... 3,900,000,000
8 Related Expenses .............................. 27,000,000
9 --------------
10 Total of schedule .......................... 3,927,000,000
11 ==============
12 REVENUE BOND FINANCING AGREEMENT PAYMENTS
13 The several sums, or so much thereof as may
14 be necessary, are hereby appropriated for
15 payment to the dormitory authority, the
16 thruway authority, and the urban develop-
17 ment corporation and are, subject to the
18 issuance of certificates of approval of
19 availability by the director of the bud-
20 get, available for the purpose of making
21 financing agreement payments related to
22 sales tax revenue bond obligations, as
23 authorized pursuant to article 5-F of the
24 state finance law and in accordance with
25 the following schedule ..................... 243,000,000
26 --------------
27 SCHEDULE
28 Debt Service Payments ........................ 240,000,000
29 Related Expenses ............................... 3,000,000
30 --------------
31 Total of schedule ............................ 243,000,000
32 ==============
33 Total of schedule ........................................ 5,897,200,000
34 ==============
35 DEBT SERVICE FUND--HOUSING DEBT FUND
36 GENERAL OBLIGATION PAYMENTS
37 The sum of $9,000,000, 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) ................ 9,000,000
42 ==============
43 DEBT SERVICE FUND--HEALTH INCOME FUND
44 For debt service and related expenses in accordance with
45 the following schedule .................................... 33,600,000
46 --------------
S. 2002--A 7 A. 3002--A
1 SCHEDULE
2 The sum of $29,000,000, or so much thereof as may be
3 necessary of operating revenues received from department
4 of health facilities other than the New York City Veter-
5 ans' Home, is hereby appropriated for payment by the
6 state comptroller of all obligations under the terms of
7 agreements between the health department and the dormi-
8 tory authority ............................................ 29,000,000
9 The sum of $2,000,000, or so much thereof as may be neces-
10 sary of operating revenues received from the New York
11 City Veterans' Home, is hereby appropriated for payment
12 by the state comptroller of all obligations under the
13 terms of agreements between the health department and
14 the dormitory authority .................................... 2,000,000
15 Related expenses ............................................. 1,000,000
16 Capital expenses ............................................. 1,600,000
17 --------------
18 Total of schedule ......................................... 33,600,000
19 ==============
20 DEBT SERVICE FUND--MENTAL HEALTH SERVICES FUND
21 The sum of $267,000,000, or so much thereof as may be
22 necessary, is hereby appropriated for payment by the
23 state comptroller of all obligations of the dormitory
24 authority, as successor to the facilities development
25 corporation and the medical care facilities finance
26 agency pursuant to chapter 83 of the laws of 1995, under
27 the terms of any lease, sublease, or other financing
28 agreement with the department of mental hygiene, in
29 accordance with the following schedule ................... 267,000,000
30 --------------
31 SCHEDULE
32 Debt service payments ...................................... 260,000,000
33 Related expenses ............................................. 7,000,000
34 --------------
35 Total of schedule .......................................... 267,000,000
36 ==============
37 DEBT SERVICE FUND--LOCAL GOVERNMENT ASSISTANCE TAX FUND
38 The sum of $404,500,000, or so much thereof as may be
39 necessary, is hereby appropriated for payment of all
40 obligations, including but not limited to reserve fund
41 credit facilities, to the local government assistance
42 corporation pursuant to a certificate or certificates
43 filed by the chairman of the corporation with the state
44 comptroller and the governor, pursuant to subdivision 1
45 of section 3240 of the public authorities law, in
46 accordance with the following schedule ................... 404,500,000
47 --------------
S. 2002--A 8 A. 3002--A
1 SCHEDULE
2 Debt service payments ...................................... 400,000,000
3 Related expenses ............................................. 4,500,000
4 --------------
5 Total of schedule .......................................... 404,500,000
6 ==============
7 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES
8 FINANCING RESERVE FUND
9 The sum of $25,000,000, or so much thereof as may be
10 necessary, is hereby appropriated for payment by the
11 state comptroller to the dormitory authority for the
12 purpose of meeting the terms of any contractual agree-
13 ments between the dormitory authority and participating
14 special act school districts listed in chapter 566 of
15 the laws of 1967, as amended, state-supported schools
16 for blind and deaf students and children with other
17 handicapping conditions pursuant to article 85 of the
18 education law, and private not-for-profit schools
19 approved by the commissioner of education pursuant to
20 article 89 of the education law, in accordance with the
21 following schedule ........................................ 25,000,000
22 --------------
23 SCHEDULE
24 Debt service payments ....................................... 24,000,000
25 Related expenses ............................................... 300,000
26 Capital expenses ............................................... 700,000
27 --------------
28 Total of schedule ........................................... 25,000,000
29 ==============
30 DEDICATED HIGHWAY AND BRIDGE TRUST FUND--SPECIAL
31 OBLIGATION RESERVE AND PAYMENT ACCOUNT
32 The sum of $780,300,000 or so much thereof as may be
33 necessary, is hereby appropriated to pay for bonds or
34 notes as required under dedicated highway and bridge
35 trust fund cooperative agreements under section 10-e of
36 the highway law, in accordance with the following sched-
37 ule ...................................................... 780,300,000
38 --------------
39 SCHEDULE
40 Debt service payments ...................................... 780,000,000
41 Related expenses ............................................... 300,000
42 --------------
43 Total of schedule .......................................... 780,300,000
44 ==============
S. 2002--A 9 A. 3002--A
1 DEBT REDUCTION RESERVE FUND
2 The sum of $500,000,000, or so much thereof as may be
3 necessary, is hereby appropriated from the debt
4 reduction reserve fund for the purposes of principal,
5 interest, and related expenses, for retiring or defeas-
6 ing bonds previously issued, including any accrued
7 interest or other expenses related thereto, for any
8 state-related bonding program or programs and for trans-
9 fer, upon request of the director of the budget, to
10 various capital projects funds as designated by the
11 director of the budget for the funding of capital
12 projects, equipment acquisitions, or similar expenses
13 which have been authorized by law to be financed through
14 the issuance of bonds, notes, or other obligations ....... 500,000,000
15 ==============
16 CONTINGENT AND OTHER APPROPRIATIONS
17 S 2. The several sums specified in this section, or so much thereof as
18 may be sufficient to accomplish in full the purposes designated by the
19 appropriations, are hereby appropriated to be paid as herein provided
20 for the funds and purposes specified and are made available for the
21 fiscal year beginning April 1, 2015.
22 GENERAL FUND--STATE PURPOSES ACCOUNT
23 The sum of $20,000,000, or so much thereof as may be
24 necessary, is hereby appropriated from the general fund
25 to the credit of the state purposes account solely for
26 the purpose of making payments of rebates to the federal
27 government to maintain the exemption from federal income
28 taxation of the interest paid to the holders of state
29 obligations issued pursuant to sections 55 and 57 of the
30 state finance law ......................................... 20,000,000
31 ==============
32 The sum of $225,000,000, or so much thereof as may be
33 necessary, is hereby appropriated from the general fund
34 to the credit of the state purposes account solely for
35 the purpose of redeeming general obligation bonds issued
36 by the state of New York, provided, however, that the
37 amount to be expended from this appropriation shall be
38 limited to the amount, as determined by the comptroller,
39 to be necessary to maintain the exemption from federal
40 taxation of the interest paid to the holders of state
41 obligations issued pursuant to sections 55 and 57 of the
42 state finance law ........................................ 225,000,000
43 ==============
44 ALL FUNDS
45 For payment of principal and interest, including but not
46 limited to reserve fund credit facilities on variable
47 rate obligations and interest rate exchange and similar
48 agreements, for state-supported debt or for transfer to
S. 2002--A 10 A. 3002--A
1 any other appropriation, in accordance with the follow-
2 ing schedule ........................................... 1,400,000,000
3 --------------
4 SCHEDULE
5 Debt service payments ...................................... 900,000,000
6 Related expenses ............................................ 50,000,000
7 Interest rate exchange and similar agreements .............. 450,000,000
8 --------------
9 Total of schedule ........................................ 1,400,000,000
10 ==============
11 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND
12 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS
13 For payment to the dormitory authority, as successor to
14 the medical care facilities finance agency pursuant to
15 chapter 83 of the laws of 1995, for payment of principal
16 interest, and related expenses on bonds or notes issued
17 pursuant to the provisions of section 7-a of the New
18 York state medical care facilities finance agency act,
19 as amended, which provide that the service contract
20 payments will be made to meet the debt service payments
21 due if the funds and accounts established under the bond
22 resolution, the secured hospital debt service reserve
23 fund, and the secured hospital capital reserve fund are
24 inadequate, in accordance with the following schedule ..... 66,000,000
25 --------------
26 SCHEDULE
27 Debt service payments ....................................... 65,000,000
28 Related expenses ............................................. 1,000,000
29 --------------
30 Total of schedule ........................................... 66,000,000
31 ==============
32 For payment to the tobacco settlement financing corpo-
33 ration, for payment of bonds or notes issued pursuant to
34 the provisions of part D3 of chapter 62 of the laws of
35 2003 which provides that contingency contract payments
36 will be made to meet the debt service payments due if
37 the funds and accounts established under the bond inden-
38 tures, the debt service accounts, the debt service
39 reserve accounts and the supplemental accounts are inad-
40 equate, in accordance with the following schedule ........ 231,000,000
41 --------------
42 SCHEDULE
43 Debt service payments ...................................... 230,000,000
44 Related expenses ............................................. 1,000,000
45 --------------
46 Total of schedule .......................................... 231,000,000
47 ==============
