Bill Text: NY S02602 | 2013-2014 | General Assembly | Amended
Bill Title: Makes appropriations for the support of government - State Debt Service Budget.
Spectrum: Committee Bill
Status: (Passed) 2013-04-10 - SIGNED CHAP.52 [S02602 Detail]
Download: New_York-2013-S02602-Amended.html
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 2602--A A. 3002--A S E N A T E - A S S E M B L Y January 22, 2013 ___________ 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, 2013. 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 .. 4,990,260,000 14 ============== EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD12552-03-3 S. 2602--A 2 A. 3002--A 1 SCHEDULE 2 GENERAL OBLIGATION PAYMENTS 3 The sum of $492,500,000, 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 .......................... 492,500,000 16 -------------- 17 sub-schedule 18 Debt service payments ...................................... 490,000,000 19 Related expenses ............................................. 2,500,000 20 -------------- 21 Total of sub-schedule ...................................... 492,500,000 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 ..... 1,446,460,000 31 -------------- 32 SCHEDULE 33 For payment to the Urban Development Corpo- 34 ration pursuant to the provisions of an 35 agreement or agreements entered between 36 the State and the Urban Development Corpo- 37 ration to pay for bonds, notes, or other 38 obligations issued or entered into for 39 correctional facilities ..................... 35,000,000 40 For payment to the Urban Development Corpo- 41 ration pursuant to the provisions of an 42 agreement or agreements of lease and 43 sublease entered into between, but not 44 limited to, the Urban Development Corpo- 45 ration, the Office of General Services and 46 the Department of Correctional Services 47 for the rental of correctional facilities ... 21,000,000 48 For payment according to the following sub- 49 schedule to the Urban Development Corpo- 50 ration for project revenue bonds, pursuant S. 2602--A 3 A. 3002--A 1 to the provisions of certain agreements of 2 lease between the entities designated on 3 the following sub-schedule and the state 4 of New York and the assignment of rent 5 thereof to the Urban Development Corpo- 6 ration ...................................... 11,300,000 7 sub-schedule 8 Syracuse University (Science 9 and Technology Center) ......... 2,800,000 10 Cornell University (Supercom- 11 puter Center) .................... 700,000 12 Columbia University (Telecom- 13 munications Center) ............ 4,800,000 14 Clarkson University .............. 1,100,000 15 University Grants 95 Refunding ... 1,900,000 16 -------------- 17 Total of sub-schedule ......... 11,300,000 18 -------------- 19 For payment to the Dormitory Authority, for 20 payment of bonds issued to finance the 21 Department of Health's David Axelrod 22 Institute for Public Health, pursuant to 23 the provisions of an agreement between the 24 Dormitory Authority and the Department of 25 Health ....................................... 6,000,000 26 For payment to the Dormitory Authority, for 27 payment of bonds issued to finance State 28 Department of Education facilities, pursu- 29 ant to an agreement between the Dormitory 30 Authority and the State Education Depart- 31 ment ......................................... 5,500,000 32 For payment to the Housing Finance Agency 33 and the Urban Development Corporation for 34 payment of bonds issued to finance the 35 State's housing programs .................... 46,000,000 36 For payment to the Metropolitan Transporta- 37 tion Authority, pursuant to state service 38 contracts authorized by section 16 of 39 chapter 314 of the laws of 1981, section 40 42 of chapter 929 of the laws of 1986, as 41 amended by chapter 13 of the laws of 1987, 42 and section 34 of part O of chapter 61 of 43 the laws of 2000 ............................ 80,000,000 44 For payment to the State University 45 Construction Fund, for payment to the 46 Dormitory Authority, pursuant to paragraph 47 (e) of subdivision 19 of section 1680 of 48 the public authorities law, to pay for 49 bonds or notes issued by such authority, 50 pursuant to agreements between the State 51 University Construction Fund, State 52 University of New York and the Dormitory 53 Authority, relating to State University S. 2602--A 4 A. 3002--A 1 education facilities. Notwithstanding the 2 provisions of section 40 of the state 3 finance law or any other provision of law 4 to the contrary, this appropriation shall 5 remain in full force and effect until 6 April 30, 2014 ............................. 280,000,000 7 For payment to the State University 8 Construction Fund, for payment to the 9 Dormitory Authority, in accordance with 10 subdivision 8 of section 6304 of the 11 education law, for bonds, notes, or other 12 obligations issued by such authority, 13 pursuant to an agreement or agreements 14 among the State University of New York, 15 various community colleges and their spon- 16 sors, and the Dormitory Authority for 17 educational facilities of community 18 colleges .................................... 31,000,000 19 For payment to the City University Construc- 20 tion Fund for City University senior 21 colleges and for community colleges. 22 Moneys hereby appropriated, or portions 23 thereof, are for payments net of all 24 interest and investment earnings on senior 25 and community college payments and other 26 excess earnings held by the City Universi- 27 ty Construction Fund, in accordance with 28 the following sub-schedule ................. 204,000,000 29 sub-schedule 30 City University senior 31 colleges ..................... 180,000,000 32 City University community 33 colleges ...................... 24,000,000 34 -------------- 35 Total of sub-schedule ........ 204,000,000 36 -------------- 37 For payment to the Dormitory Authority, 38 pursuant to the provisions of a service 39 contract or contracts, for payment of 40 bonds or notes issued for the financing of 41 projects at the Albany County Airport ........ 4,000,000 42 For payment to the Dormitory Authority and 43 the Urban Development Corporation for 44 bonds issued for one or more facilities 45 provided for the department of audit and 46 control, the New York state and local 47 employees' retirement system, and the New 48 York state and local police and fire 49 retirement system and on behalf of the 50 departments or agencies having occupancy 51 or use of other state facilities and park- 52 ing facilities ............................... 1,200,000 S. 2602--A 5 A. 3002--A 1 For payment to the Thruway Authority, pursu- 2 ant to section 380 of the public authori- 3 ties law, to pay for Local Highway and 4 Bridge Service Contract bonds or notes 5 issued by such authority pursuant to an 6 agreement between the Thruway Authority 7 and the state .............................. 196,000,000 8 For payment to the Environmental Facilities 9 Corporation, pursuant to subdivision 1 of 10 section 1290 of the public authorities 11 law, to pay for bonds or notes issued by 12 such authority pursuant to a lease agree- 13 ment between the Environmental Facilities 14 Corporation and the Office of Parks, 15 Recreation and Historic Preservation 16 relating to the financing of Riverbank 17 State Park ................................... 5,200,000 18 For payment to the Environmental Facilities 19 Corporation for bonds and notes issued by 20 such authority, pursuant to an agreement 21 between the Environmental Facilities 22 Corporation and the Office of Mental 23 Health relating to the financing of a 24 Waste water treatment facility for Pilgrim 25 Psychiatric Center ............................. 960,000 26 For payment to the Environmental Facilities 27 Corporation, for payment of bonds issued 28 to finance environmental infrastructure 29 projects, pursuant to an agreement or 30 agreements between the Environmental 31 Facilities Corporation and the State ........ 14,000,000 32 For payment according to the following sub- 33 schedule for bonds issued to finance 34 consolidated service contract refundings ... 487,000,000 35 -------------- 36 sub-schedule 37 Urban Development Corporation .. 365,000,000 38 Dormitory Authority ............ 112,000,000 39 Thruway Authority ............... 10,000,000 40 -------------- 41 Total of sub-schedule ........ 487,000,000 42 -------------- 43 Total of debt service schedule ............. 1,428,160,000 44 -------------- 45 For payment of related expenses in accord- 46 ance with the following schedule. 47 SCHEDULE 48 Urban Development Corporation .................. 2,000,000 49 Housing Finance Agency ......................... 2,000,000 50 Dormitory Authority ............................ 7,500,000 S. 2602--A 6 A. 3002--A 1 Dormitory Authority Capital Expenses ........... 6,000,000 2 Environmental Facilities Corporation ............. 300,000 3 Thruway Authority ................................ 500,000 4 -------------- 5 Total of related expenses schedule ............ 18,300,000 6 -------------- 7 Total of schedules ......................... 1,446,460,000 8 ============== 9 REVENUE BOND FINANCING AGREEMENT PAYMENTS 10 The several sums, or so much thereof as may 11 be necessary, are hereby appropriated for 12 payment to the dormitory authority, the 13 environmental facilities corporation, the 14 housing finance agency, the thruway 15 authority, and the urban development 16 corporation and are, subject to the issu- 17 ance of certificates of approval of avail- 18 ability by the director of the budget, 19 available for the purpose of making 20 financing agreement payments related to 21 personal income tax revenue bond obli- 22 gations, as authorized pursuant to article 23 5-C of the state finance law and in 24 accordance with the following schedule ... 2,998,300,000 25 -------------- 26 SCHEDULE 27 Economic Development and Housing ............. 305,000,000 28 Education .................................... 440,000,000 29 Environment ................................... 90,000,000 30 General Purpose ............................ 1,550,000,000 31 Healthcare .................................... 15,000,000 32 State Facilities and Equipment ............... 165,000,000 33 Transportation ............................... 415,000,000 34 -------------- 35 Total of schedule .......................... 2,980,000,000 36 -------------- 37 For payment of related expenses in accord- 38 ance with the following schedule. 39 SCHEDULE 40 Urban Development Corporation .................. 6,300,000 41 Housing Finance Agency ......................... 2,100,000 42 Dormitory Authority ............................ 8,000,000 43 Dormitory Authority Capital Expenses ............. 800,000 44 Environmental Facilities Corporation ............. 800,000 45 Thruway Authority ................................ 300,000 46 -------------- 47 Total of schedule ............................. 18,300,000 48 -------------- S. 2602--A 7 A. 3002--A 1 Total of schedules ......................... 2,998,300,000 2 ============== 3 REVENUE BOND FINANCING AGREEMENT PAYMENTS 4 The several sums, or so much thereof as may 5 be necessary, are hereby appropriated for 6 payment to the dormitory authority, the 7 thruway authority, and the urban develop- 8 ment corporation and are, subject to the 9 issuance of certificates of approval of 10 availability by the director of the bud- 11 get, available for the purpose of making 12 financing agreement payments related to 13 sales tax revenue bond obligationns, as 14 authorized pursuant to article 5-F of the 15 state finance law and in accordance with 16 the following schedule ...................... 53,000,000 17 -------------- 18 SCHEDULE 19 Debt Service Payments ......................... 50,000,000 20 -------------- 21 Total of schedule ............................. 50,000,000 22 -------------- 23 For payment of related expenses in accor- 24 dance with the following schedule. 25 SCHEDULE 26 Urban Development Corporation .................. 1,000,000 27 Dormitory Authority ............................ 1,000,000 28 Thruway Authority .............................. 1,000,000 29 -------------- 30 Total of schedule .............................. 3,000,000 31 -------------- 32 Total of schedules ............................ 53,000,000 33 ============== 34 Total of schedule ........................................ 4,990,260,000 35 ============== 36 DEBT SERVICE FUND--HOUSING DEBT FUND 37 GENERAL OBLIGATION PAYMENTS 38 The sum of $11,500,000, or so much thereof as may be 39 necessary, is hereby appropriated for payment by the 40 state comptroller of principal and interest on general 41 obligation bonds issued in connection with state housing 42 (low cost, middle income and urban renewal) ............... 11,500,000 43 ============== S. 2602--A 8 A. 3002--A 1 DEBT SERVICE FUND--HEALTH INCOME FUND 2 For debt service and related expenses in accordance with 3 the following schedule .................................... 33,200,000 4 -------------- 5 SCHEDULE 6 The sum of $29,000,000, or so much thereof as may be 7 necessary of operating revenues received from department 8 of health facilities other than the New York City Veter- 9 ans' Home, is hereby appropriated for payment by the 10 state comptroller of all obligations under the terms of 11 agreements between the health department and the dormi- 12 tory authority ............................................ 29,000,000 13 The sum of $2,000,000, or so much thereof as may be neces- 14 sary of operating revenues received from the New York 15 City Veterans' Home, is hereby appropriated for payment 16 by the state comptroller of all obligations under the 17 terms of agreements between the health department and 18 the dormitory authority .................................... 2,000,000 19 Related expenses ............................................. 1,000,000 20 Capital expenses ............................................. 1,200,000 21 -------------- 22 Total of schedule ......................................... 33,200,000 23 ============== 24 DEBT SERVICE FUND--STATE UNIVERSITY DORMITORY INCOME FUND 25 The sum of $127,800,000, or so much thereof as may be 26 necessary, is hereby appropriated for payment by the 27 state comptroller of all obligations under the terms of 28 agreements between the state university of New York and 29 the dormitory authority and refunds to students for room 30 rental and college fee overpayments, in accordance with 31 the following schedule ................................... 127,800,000 32 -------------- 33 SCHEDULE 34 Debt service payments ...................................... 116,000,000 35 Related expenses ............................................. 1,800,000 36 Capital expenses ............................................ 10,000,000 37 -------------- 38 Total of schedule .......................................... 127,800,000 39 ============== 40 DEBT SERVICE FUND--MENTAL HEALTH SERVICES FUND 41 The sum of $328,000,000, or so much thereof as may be 42 necessary, is hereby appropriated for payment by the 43 state comptroller of all obligations of the dormitory 44 authority, as successor to the facilities development 45 corporation and the medical care facilities finance 46 agency pursuant to chapter 83 of the laws of 1995, under 47 the terms of any lease, sublease, or other financing S. 2602--A 9 A. 3002--A 1 agreement with the department of mental hygiene, in 2 accordance with the following schedule ................... 328,000,000 3 -------------- 4 SCHEDULE 5 Debt service payments ...................................... 320,000,000 6 Related expenses ............................................. 8,000,000 7 -------------- 8 Total of schedule .......................................... 328,000,000 9 ============== 10 DEBT SERVICE FUND--LOCAL GOVERNMENT ASSISTANCE TAX FUND 11 The sum of $397,500,000, or so much thereof as may be 12 necessary, is hereby appropriated for payment of all 13 obligations, including but not limited to reserve fund 14 credit facilities, to the local government assistance 15 corporation pursuant to a certificate or certificates 16 filed by the chairman of the corporation with the state 17 comptroller and the governor, pursuant to subdivision 1 18 of section 3240 of the public authorities law, in 19 accordance with the following schedule ................... 397,500,000 20 -------------- 21 SCHEDULE 22 Debt service payments ...................................... 392,000,000 23 Related expenses ............................................. 5,500,000 24 -------------- 25 Total of schedule .......................................... 397,500,000 26 ============== 27 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES 28 FINANCING RESERVE FUND 29 The sum of $25,600,000, or so much thereof as may be 30 necessary, is hereby appropriated for payment by the 31 state comptroller to the dormitory authority for the 32 purpose of meeting the terms of any contractual agree- 33 ments between the dormitory authority and participating 34 special act school districts listed in chapter 566 of 35 the laws of 1967, as amended, state-supported schools 36 for blind and deaf students and children with other 37 handicapping conditions pursuant to article 85 of the 38 education law, and private not-for-profit schools 39 approved by the commissioner of education pursuant to 40 article 89 of the education law, in accordance with the 41 following schedule ........................................ 25,600,000 42 -------------- 43 SCHEDULE 44 Debt service payments ....................................... 25,000,000 45 Related expenses ............................................... 300,000 46 Capital expenses ............................................... 300,000 S. 2602--A 10 A. 3002--A 1 -------------- 2 Total of schedule ........................................... 25,600,000 3 ============== 4 DEDICATED HIGHWAY AND BRIDGE TRUST FUND--SPECIAL 5 OBLIGATION RESERVE AND PAYMENT ACCOUNT 6 The sum of $980,300,000 or so much thereof as may be 7 necessary, is hereby appropriated to pay for bonds or 8 notes as required under dedicated highway and bridge 9 trust fund cooperative agreements under section 10-e of 10 the highway law, in accordance with the following sched- 11 ule ...................................................... 980,300,000 12 -------------- 13 SCHEDULE 14 Debt service payments ...................................... 980,000,000 15 Related expenses ............................................... 300,000 16 -------------- 17 Total of schedule .......................................... 980,300,000 18 ============== 19 DEBT REDUCTION RESERVE FUND 20 The sum of $500,000,000, or so much thereof as may be 21 necessary, is hereby appropriated from the debt 22 reduction reserve fund for the purposes of principal, 23 interest, and related expenses, for retiring or defeas- 24 ing bonds previously issued, including any accrued 25 interest or other expenses related thereto, for any 26 state-related bonding program or programs and for trans- 27 fer, upon request of the director of the budget, to 28 various capital projects funds as designated by the 29 director of the budget for the funding of capital 30 projects, equipment acquisitions, or similar expenses 31 which have been authorized by law to be financed through 32 the issuance of bonds, notes, or other obligations ....... 500,000,000 33 ============== 34 CONTINGENT AND OTHER APPROPRIATIONS 35 S 2. The several sums specified in this section, or so much thereof as 36 may be sufficient to accomplish in full the purposes designated by the 37 appropriations, are hereby appropriated to be paid as herein provided 38 for the funds and purposes specified and are made available for the 39 fiscal year beginning April 1, 2013. 40 GENERAL FUND--STATE PURPOSES ACCOUNT 41 The sum of $20,000,000, or so much thereof as may be 42 necessary, is hereby appropriated from the general fund 43 to the credit of the state purposes account solely for 44 the purpose of making payments of rebates to the federal 45 government to maintain the exemption from federal income 46 taxation of the interest paid to the holders of state S. 2602--A 11 A. 3002--A 1 obligations issued pursuant to sections 55 and 57 of the 2 state finance law ......................................... 20,000,000 3 ============== 4 The sum of $225,000,000, or so much thereof as may be 5 necessary, is hereby appropriated from the general fund 6 to the credit of the state purposes account solely for 7 the purpose of redeeming general obligation bonds issued 8 by the state of New York, provided, however, that the 9 amount to be expended from this appropriation shall be 10 limited to the amount, as determined by the comptroller, 11 to be necessary to maintain the exemption from federal 12 taxation of the interest paid to the holders of state 13 obligations issued pursuant to sections 55 and 57 of the 14 state finance law ........................................ 225,000,000 15 ============== 16 ALL FUNDS 17 For payment of principal and interest, including but not 18 limited to reserve fund credit facilities on variable 19 rate obligations and interest rate exchange and similar 20 agreements, for state-supported debt or for transfer to 21 any other appropriation, in accordance with the follow- 22 ing schedule ........................................... 1,500,000,000 23 -------------- 24 SCHEDULE 25 Debt service payments ...................................... 900,000,000 26 Related expenses ............................................ 50,000,000 27 Interest rate exchange and similar agreements .............. 550,000,000 28 -------------- 29 Total of schedule ........................................ 1,500,000,000 30 ============== 31 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND 32 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 33 For payment to the dormitory authority, as successor to 34 the medical care facilities finance agency pursuant to 35 chapter 83 of the laws of 1995, for payment of principal 36 interest, and related expenses on bonds or notes issued 37 pursuant to the provisions of section 7-a of the New 38 York state medical care facilities finance agency act, 39 as amended, which provide that the service contract 40 payments will be made to meet the debt service payments 41 due if the funds and accounts established under the bond 42 resolution, the secured hospital debt service reserve 43 fund, and the secured hospital capital reserve fund are 44 inadequate, in accordance with the following schedule ..... 81,000,000 45 -------------- 46 SCHEDULE 47 Debt service payments ....................................... 80,000,000 S. 2602--A 12 A. 3002--A 1 Related expenses ............................................. 1,000,000 2 -------------- 3 Total of schedule ........................................... 81,000,000 4 ============== 5 For payment to the tobacco settlement financing corpo- 6 ration, for payment of bonds or notes issued pursuant to 7 the provisions of part D3 of chapter 62 of the laws of 8 2003 which provides that contingency contract payments 9 will be made to meet the debt service payments due if 10 the funds and accounts established under the bond inden- 11 tures, the debt service accounts, the debt service 12 reserve accounts and the supplemental accounts are inad- 13 equate, in accordance with the following schedule ........ 254,000,000 14 -------------- 15 SCHEDULE 16 Debt service payments ...................................... 253,000,000 17 Related expenses ............................................. 1,000,000 18 -------------- 19 Total of schedule .......................................... 254,000,000 20 ==============