Bill Text: NY S02602 | 2013-2014 | General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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-Introduced.html
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-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 2602 A. 3002
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
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
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 ==============
15 SCHEDULE
16 GENERAL OBLIGATION PAYMENTS
17 The sum of $492,500,000, or so much thereof as may be
18 necessary, is hereby appropriated for payment by the
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD12552-01-3
S. 2602 2 A. 3002
1 state comptroller for general obligation bonds issued in
2 connection with higher education construction, pure
3 waters, environmental quality, transportation capital
4 facilities, rail preservation, outdoor recreation devel-
5 opment, energy conservation through improved transporta-
6 tion, parks and recreation land acquisition, rebuild New
7 York through transportation infrastructure renewal and
8 accelerated capacity and transportation improvements of
9 the nineties, clean water/clean air, and rebuild and
10 renew New York transportation purposes, in accordance
11 with the following sub-schedule .......................... 492,500,000
12 --------------
13 sub-schedule
14 Debt service payments ...................................... 490,000,000
15 Related expenses ............................................. 2,500,000
16 --------------
17 Total of sub-schedule ...................................... 492,500,000
18 ==============
19 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS
20 The several sums, or so much thereof as may be sufficient
21 to accomplish in full the purposes designated by the
22 appropriations, are hereby appropriated and are, subject
23 to the issuance of certificates of approval of avail-
24 ability by the director of the budget, available for the
25 purpose of making payments for special contractual obli-
26 gations, in accordance with the following schedule ..... 1,446,460,000
27 --------------
28 SCHEDULE
29 For payment to the Urban Development Corpo-
30 ration pursuant to the provisions of an
31 agreement or agreements entered between
32 the State and the Urban Development Corpo-
33 ration to pay for bonds, notes, or other
34 obligations issued or entered into for
35 correctional facilities ..................... 35,000,000
36 For payment to the Urban Development Corpo-
37 ration pursuant to the provisions of an
38 agreement or agreements of lease and
39 sublease entered into between, but not
40 limited to, the Urban Development Corpo-
41 ration, the Office of General Services and
42 the Department of Correctional Services
43 for the rental of correctional facilities ... 21,000,000
44 For payment according to the following sub-
45 schedule to the Urban Development Corpo-
46 ration for project revenue bonds, pursuant
47 to the provisions of certain agreements of
48 lease between the entities designated on
49 the following sub-schedule and the state
50 of New York and the assignment of rent
S. 2602 3 A. 3002
1 thereof to the Urban Development Corpo-
2 ration ...................................... 11,300,000
3 sub-schedule
4 Syracuse University (Science
5 and Technology Center) ......... 2,800,000
6 Cornell University (Supercom-
7 puter Center) .................... 700,000
8 Columbia University (Telecom-
9 munications Center) ............ 4,800,000
10 Clarkson University .............. 1,100,000
11 University Grants 95 Refunding ... 1,900,000
12 --------------
13 Total of sub-schedule ......... 11,300,000
14 --------------
15 For payment to the Dormitory Authority, for
16 payment of bonds issued to finance the
17 Department of Health's David Axelrod
18 Institute for Public Health, pursuant to
19 the provisions of an agreement between the
20 Dormitory Authority and the Department of
21 Health ....................................... 6,000,000
22 For payment to the Dormitory Authority, for
23 payment of bonds issued to finance State
24 Department of Education facilities, pursu-
25 ant to an agreement between the Dormitory
26 Authority and the State Education Depart-
27 ment ......................................... 5,500,000
28 For payment to the Housing Finance Agency
29 and the Urban Development Corporation for
30 payment of bonds issued to finance the
31 State's housing programs .................... 46,000,000
32 For payment to the Metropolitan Transporta-
33 tion Authority, pursuant to state service
34 contracts authorized by section 16 of
35 chapter 314 of the laws of 1981, section
36 42 of chapter 929 of the laws of 1986, as
37 amended by chapter 13 of the laws of 1987,
38 and section 34 of part O of chapter 61 of
39 the laws of 2000 ............................ 80,000,000
40 For payment to the State University
41 Construction Fund, for payment to the
42 Dormitory Authority, pursuant to paragraph
43 (e) of subdivision 19 of section 1680 of
44 the public authorities law, to pay for
45 bonds or notes issued by such authority,
46 pursuant to agreements between the State
47 University Construction Fund, State
48 University of New York and the Dormitory
49 Authority, relating to State University
50 education facilities. Notwithstanding the
51 provisions of section 40 of the state
52 finance law or any other provision of law
53 to the contrary, this appropriation shall
S. 2602 4 A. 3002
1 remain in full force and effect until
2 April 30, 2014 ............................. 280,000,000
3 For payment to the State University
4 Construction Fund, for payment to the
5 Dormitory Authority, in accordance with
6 subdivision 8 of section 6304 of the
7 education law, for bonds, notes, or other
8 obligations issued by such authority,
9 pursuant to an agreement or agreements
10 among the State University of New York,
11 various community colleges and their spon-
12 sors, and the Dormitory Authority for
13 educational facilities of community
14 colleges .................................... 31,000,000
15 For payment to the City University Construc-
16 tion Fund for City University senior
17 colleges and for community colleges.
18 Moneys hereby appropriated, or portions
19 thereof, are for payments net of all
20 interest and investment earnings on senior
21 and community college payments and other
22 excess earnings held by the City Universi-
23 ty Construction Fund, in accordance with
24 the following sub-schedule ................. 204,000,000
25 sub-schedule
26 City University senior
27 colleges ..................... 180,000,000
28 City University community
29 colleges ...................... 24,000,000
30 --------------
31 Total of sub-schedule ........ 204,000,000
32 --------------
33 For payment to the Dormitory Authority,
34 pursuant to the provisions of a service
35 contract or contracts, for payment of
36 bonds or notes issued for the financing of
37 projects at the Albany County Airport ........ 4,000,000
38 For payment to the Dormitory Authority and
39 the Urban Development Corporation for
40 bonds issued for one or more facilities
41 provided for the department of audit and
42 control, the New York state and local
43 employees' retirement system, and the New
44 York state and local police and fire
45 retirement system and on behalf of the
46 departments or agencies having occupancy
47 or use of other state facilities and park-
48 ing facilities ............................... 1,200,000
49 For payment to the Thruway Authority, pursu-
50 ant to section 380 of the public authori-
51 ties law, to pay for Local Highway and
52 Bridge Service Contract bonds or notes
53 issued by such authority pursuant to an
S. 2602 5 A. 3002
1 agreement between the Thruway Authority
2 and the state .............................. 196,000,000
3 For payment to the Environmental Facilities
4 Corporation, pursuant to subdivision 1 of
5 section 1290 of the public authorities
6 law, to pay for bonds or notes issued by
7 such authority pursuant to a lease agree-
8 ment between the Environmental Facilities
9 Corporation and the Office of Parks,
10 Recreation and Historic Preservation
11 relating to the financing of Riverbank
12 State Park ................................... 5,200,000
13 For payment to the Environmental Facilities
14 Corporation for bonds and notes issued by
15 such authority, pursuant to an agreement
16 between the Environmental Facilities
17 Corporation and the Office of Mental
18 Health relating to the financing of a
19 Waste water treatment facility for Pilgrim
20 Psychiatric Center ............................. 960,000
21 For payment to the Environmental Facilities
22 Corporation, for payment of bonds issued
23 to finance environmental infrastructure
24 projects, pursuant to an agreement or
25 agreements between the Environmental
26 Facilities Corporation and the State ........ 14,000,000
27 For payment according to the following sub-
28 schedule for bonds issued to finance
29 consolidated service contract refundings ... 487,000,000
30 --------------
31 sub-schedule
32 Urban Development Corporation .. 365,000,000
33 Dormitory Authority ............ 112,000,000
34 Thruway Authority ............... 10,000,000
35 --------------
36 Total of sub-schedule ........ 487,000,000
37 --------------
38 Total of debt service schedule ............. 1,428,160,000
39 --------------
40 For payment of related expenses in accord-
41 ance with the following schedule.
42 SCHEDULE
43 Urban Development Corporation .................. 2,000,000
44 Housing Finance Agency ......................... 2,000,000
45 Dormitory Authority ............................ 7,500,000
46 Dormitory Authority Capital Expenses ........... 6,000,000
47 Environmental Facilities Corporation ............. 300,000
48 Thruway Authority ................................ 500,000
49 --------------
S. 2602 6 A. 3002
1 Total of related expenses schedule ............ 18,300,000
2 --------------
3 Total of schedules ......................... 1,446,460,000
4 ==============
5 REVENUE BOND FINANCING AGREEMENT PAYMENTS
6 The several sums, or so much thereof as may
7 be necessary, are hereby appropriated for
8 payment to the dormitory authority, the
9 environmental facilities corporation, the
10 housing finance agency, the thruway
11 authority, and the urban development
12 corporation and are, subject to the issu-
13 ance of certificates of approval of avail-
14 ability by the director of the budget,
15 available for the purpose of making
16 financing agreement payments related to
17 personal income tax revenue bond obli-
18 gations, as authorized pursuant to article
19 5-C of the state finance law and in
20 accordance with the following schedule ... 2,998,300,000
21 --------------
22 SCHEDULE
23 Economic Development and Housing ............. 305,000,000
24 Education .................................... 440,000,000
25 Environment ................................... 90,000,000
26 General Purpose ............................ 1,550,000,000
27 Healthcare .................................... 15,000,000
28 State Facilities and Equipment ............... 165,000,000
29 Transportation ............................... 415,000,000
30 --------------
31 Total of schedule .......................... 2,980,000,000
32 --------------
33 For payment of related expenses in accord-
34 ance with the following schedule.
35 SCHEDULE
36 Urban Development Corporation .................. 6,300,000
37 Housing Finance Agency ......................... 2,100,000
38 Dormitory Authority ............................ 8,000,000
39 Dormitory Authority Capital Expenses ............. 800,000
40 Environmental Facilities Corporation ............. 800,000
41 Thruway Authority ................................ 300,000
42 --------------
43 Total of schedule ............................. 18,300,000
44 --------------
45 Total of schedules ......................... 2,998,300,000
46 ==============
47 REVENUE BOND FINANCING AGREEMENT PAYMENTS
S. 2602 7 A. 3002
1 The several sums, or so much thereof as may
2 be necessary, are hereby appropriated for
3 payment to the dormitory authority, the
4 thruway authority, and the urban develop-
5 ment corporation and are, subject to the
6 issuance of certificates of approval of
7 availability by the director of the bud-
8 get, available for the purpose of making
9 financing agreement payments related to
10 sales tax revenue bond obligationns, as
11 authorized pursuant to article 5-F of the
12 state finance law and in accordance with
13 the following schedule ...................... 53,000,000
14 --------------
15 SCHEDULE
16 Debt Service Payments ......................... 50,000,000
17 --------------
18 Total of schedule ............................. 50,000,000
19 --------------
20 For payment of related expenses in accor-
21 dance with the following schedule.
22 SCHEDULE
23 Urban Development Corporation .................. 1,000,000
24 Dormitory Authority ............................ 1,000,000
25 Thruway Authority .............................. 1,000,000
26 --------------
27 Total of schedule .............................. 3,000,000
28 --------------
29 Total of schedules ............................ 53,000,000
30 ==============
31 Total of schedule ........................................ 4,990,260,000
32 ==============
33 DEBT SERVICE FUND--HOUSING DEBT FUND
34 GENERAL OBLIGATION PAYMENTS
35 The sum of $11,500,000, or so much thereof as may be
36 necessary, is hereby appropriated for payment by the
37 state comptroller of principal and interest on general
38 obligation bonds issued in connection with state housing
39 (low cost, middle income and urban renewal) ............... 11,500,000
40 ==============
41 DEBT SERVICE FUND--HEALTH INCOME FUND
42 For debt service and related expenses in accordance with
43 the following schedule .................................... 33,200,000
44 --------------
S. 2602 8 A. 3002
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 ............................................. 1,200,000
17 --------------
18 Total of schedule ......................................... 33,200,000
19 ==============
20 DEBT SERVICE FUND--STATE UNIVERSITY DORMITORY INCOME FUND
21 The sum of $127,800,000, or so much thereof as may be
22 necessary, is hereby appropriated for payment by the
23 state comptroller of all obligations under the terms of
24 agreements between the state university of New York and
25 the dormitory authority and refunds to students for room
26 rental and college fee overpayments, in accordance with
27 the following schedule ................................... 127,800,000
28 --------------
29 SCHEDULE
30 Debt service payments ...................................... 116,000,000
31 Related expenses ............................................. 1,800,000
32 Capital expenses ............................................ 10,000,000
33 --------------
34 Total of schedule .......................................... 127,800,000
35 ==============
36 DEBT SERVICE FUND--MENTAL HEALTH SERVICES FUND
37 The sum of $328,000,000, or so much thereof as may be
38 necessary, is hereby appropriated for payment by the
39 state comptroller of all obligations of the dormitory
40 authority, as successor to the facilities development
41 corporation and the medical care facilities finance
42 agency pursuant to chapter 83 of the laws of 1995, under
43 the terms of any lease, sublease, or other financing
44 agreement with the department of mental hygiene, in
45 accordance with the following schedule ................... 328,000,000
46 --------------
S. 2602 9 A. 3002
1 SCHEDULE
2 Debt service payments ...................................... 320,000,000
3 Related expenses ............................................. 8,000,000
4 --------------
5 Total of schedule .......................................... 328,000,000
6 ==============
7 DEBT SERVICE FUND--LOCAL GOVERNMENT ASSISTANCE TAX FUND
8 The sum of $397,500,000, or so much thereof as may be
9 necessary, is hereby appropriated for payment of all
10 obligations, including but not limited to reserve fund
11 credit facilities, to the local government assistance
12 corporation pursuant to a certificate or certificates
13 filed by the chairman of the corporation with the state
14 comptroller and the governor, pursuant to subdivision 1
15 of section 3240 of the public authorities law, in
16 accordance with the following schedule ................... 397,500,000
17 --------------
18 SCHEDULE
19 Debt service payments ...................................... 392,000,000
20 Related expenses ............................................. 5,500,000
21 --------------
22 Total of schedule .......................................... 397,500,000
23 ==============
24 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES
25 FINANCING RESERVE FUND
26 The sum of $25,600,000, or so much thereof as may be
27 necessary, is hereby appropriated for payment by the
28 state comptroller to the dormitory authority for the
29 purpose of meeting the terms of any contractual agree-
30 ments between the dormitory authority and participating
31 special act school districts listed in chapter 566 of
32 the laws of 1967, as amended, state-supported schools
33 for blind and deaf students and children with other
34 handicapping conditions pursuant to article 85 of the
35 education law, and private not-for-profit schools
36 approved by the commissioner of education pursuant to
37 article 89 of the education law, in accordance with the
38 following schedule ........................................ 25,600,000
39 --------------
40 SCHEDULE
41 Debt service payments ....................................... 25,000,000
42 Related expenses ............................................... 300,000
43 Capital expenses ............................................... 300,000
44 --------------
45 Total of schedule ........................................... 25,600,000
46 ==============
S. 2602 10 A. 3002
1 DEDICATED HIGHWAY AND BRIDGE TRUST FUND--SPECIAL
2 OBLIGATION RESERVE AND PAYMENT ACCOUNT
3 The sum of $980,300,000 or so much thereof as may be
4 necessary, is hereby appropriated to pay for bonds or
5 notes as required under dedicated highway and bridge
6 trust fund cooperative agreements under section 10-e of
7 the highway law, in accordance with the following sched-
8 ule ...................................................... 980,300,000
9 --------------
10 SCHEDULE
11 Debt service payments ...................................... 980,000,000
12 Related expenses ............................................... 300,000
13 --------------
14 Total of schedule .......................................... 980,300,000
15 ==============
16 DEBT REDUCTION RESERVE FUND
17 The sum of $1,000,000,000, or so much thereof as may be
18 necessary, is hereby appropriated from the debt
19 reduction reserve fund for the purposes of principal,
20 interest, and related expenses, for retiring or defeas-
21 ing bonds previously issued, including any accrued
22 interest or other expenses related thereto, for any
23 state-related bonding program or programs and for trans-
24 fer, upon request of the director of the budget, to
25 various capital projects funds as designated by the
26 director of the budget for the funding of capital
27 projects, equipment acquisitions, or similar expenses
28 which have been authorized by law to be financed through
29 the issuance of bonds, notes, or other obligations ..... 1,000,000,000
30 ==============
31 CONTINGENT AND OTHER APPROPRIATIONS
32 S 2. The several sums specified in this section, or so much thereof as
33 may be sufficient to accomplish in full the purposes designated by the
34 appropriations, are hereby appropriated to be paid as herein provided
35 for the funds and purposes specified and are made available for the
36 fiscal year beginning April 1, 2013.
37 GENERAL FUND--STATE PURPOSES ACCOUNT
38 The sum of $20,000,000, 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 making payments of rebates to the federal
42 government to maintain the exemption from federal income
43 taxation of the interest paid to the holders of state
44 obligations issued pursuant to sections 55 and 57 of the
45 state finance law ......................................... 20,000,000
46 ==============
S. 2602 11 A. 3002
1 The sum of $225,000,000, or so much thereof as may be
2 necessary, is hereby appropriated from the general fund
3 to the credit of the state purposes account solely for
4 the purpose of redeeming general obligation bonds issued
5 by the state of New York, provided, however, that the
6 amount to be expended from this appropriation shall be
7 limited to the amount, as determined by the comptroller,
8 to be necessary to maintain the exemption from federal
9 taxation of the interest paid to the holders of state
10 obligations issued pursuant to sections 55 and 57 of the
11 state finance law ........................................ 225,000,000
12 ==============
13 ALL FUNDS
14 For payment of principal and interest, including but not
15 limited to reserve fund credit facilities on variable
16 rate obligations and interest rate exchange and similar
17 agreements, for state-supported debt or for transfer to
18 any other appropriation, in accordance with the follow-
19 ing schedule ........................................... 1,500,000,000
20 --------------
21 SCHEDULE
22 Debt service payments ...................................... 900,000,000
23 Related expenses ............................................ 50,000,000
24 Interest rate exchange and similar agreements .............. 550,000,000
25 --------------
26 Total of schedule ........................................ 1,500,000,000
27 ==============
28 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND
29 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS
30 For payment to the dormitory authority, as successor to
31 the medical care facilities finance agency pursuant to
32 chapter 83 of the laws of 1995, for payment of principal
33 interest, and related expenses on bonds or notes issued
34 pursuant to the provisions of section 7-a of the New
35 York state medical care facilities finance agency act,
36 as amended, which provide that the service contract
37 payments will be made to meet the debt service payments
38 due if the funds and accounts established under the bond
39 resolution, the secured hospital debt service reserve
40 fund, and the secured hospital capital reserve fund are
41 inadequate, in accordance with the following schedule ..... 81,000,000
42 --------------
43 SCHEDULE
44 Debt service payments ....................................... 80,000,000
45 Related expenses ............................................. 1,000,000
46 --------------
47 Total of schedule ........................................... 81,000,000
48 ==============
S. 2602 12 A. 3002
1 For payment to the tobacco settlement financing corpo-
2 ration, for payment of bonds or notes issued pursuant to
3 the provisions of part D3 of chapter 62 of the laws of
4 2003 which provides that contingency contract payments
5 will be made to meet the debt service payments due if
6 the funds and accounts established under the bond inden-
7 tures, the debt service accounts, the debt service
8 reserve accounts and the supplemental accounts are inad-
9 equate, in accordance with the following schedule ........ 254,000,000
10 --------------
11 SCHEDULE
12 Debt service payments ...................................... 253,000,000
13 Related expenses ............................................. 1,000,000
14 --------------
15 Total of schedule .......................................... 254,000,000
16 ==============
