Bill Text: NY S03011 | 2017-2018 | General Assembly | Introduced
Bill Title: Authorizes the state to forgive outstanding loan debt of $16,600,000 from the Ogdensburg Bridge and Port Authority.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-01-03 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S03011 Detail]
Download: New_York-2017-S03011-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3011 2017-2018 Regular Sessions IN SENATE January 19, 2017 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT authorizing the forgiveness of loans received by the Ogdensburg Bridge and Port Authority The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Notwithstanding any inconsistent general, special or local 2 law to the contrary, New York State through the division of the budget 3 is hereby authorized to forgive outstanding amounts on all loans made to 4 the Ogdensburg Bridge and Port Authority between the years of 1950 and 5 1981. The total amount of outstanding debt owed to the state to be 6 forgiven pursuant to this act is $16,600,000. Any agreements entered 7 into between the Bridge and Port Authority and New York State to repay 8 such obligations shall be canceled. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08238-01-7
