Bill Text: NY S05055 | 2015-2016 | General Assembly | Introduced

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Bill Title: Provides that bond anticipation notes issued during calendar years 2012 and 2013 may not extend more than 7 years beyond original date of issuance of such bond notes.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO LOCAL GOVERNMENT [S05055 Detail]

Download: New_York-2015-S05055-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5055
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                    April 29, 2015
                                      ___________
       Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
         and when printed to be committed to the Committee on Local Government
       AN ACT to amend the local finance law, in relation to bond  anticipation
         notes issued during the calendar years 2012 and 2013
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subparagraph 2 of paragraph b of section 23.00 of the local
    2  finance law, as amended by chapter 264 of the laws of 2012,  is  amended
    3  to read as follows:
    4    2. renewals of bond anticipation notes issued originally during calen-
    5  dar  year  two  thousand [seven] TWELVE or two thousand [eight] THIRTEEN
    6  may not extend more than seven years beyond the original date  of  issue
    7  of such bond anticipation notes.
    8    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02748-02-5