Bill Text: NY S06737 | 2015-2016 | General Assembly | Introduced

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Bill Title: Authorizes the state to forgive outstanding loan debt from the Ogdensburg Bridge and Port Authority.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-05-23 - REPORTED AND COMMITTED TO FINANCE [S06737 Detail]

Download: New_York-2015-S06737-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6737
                    IN SENATE
                                    February 11, 2016
                                       ___________
        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.
                                                                   LBD14073-01-6