Bill Text: NY S08919 | 2017-2018 | General Assembly | Introduced
Bill Title: Increases the limit of certain funding by the dormitory authority for financing of capital facilities for state-supported schools for blind and deaf students.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-06-04 - REFERRED TO RULES [S08919 Detail]
Download: New_York-2017-S08919-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8919 IN SENATE June 4, 2018 ___________ Introduced by Sen. MARCELLINO -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the education law, in relation to increasing the limit of certain funding by the dormitory authority for financing of capital facilities for state-supported schools for blind and deaf students The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 10 of section 407-b of the education law, as 2 amended by chapter 31 of the laws of 1996, is amended to read as 3 follows: 4 10. Notwithstanding any other provision of law to the contrary, the 5 dormitory authority may execute leases, subleases, or other agreements 6 with state supported schools for financing of the design, construction, 7 rehabilitation, improvement, renovation, acquisition or provision, 8 furnishing or equipping of capital facilities; provided, however, that 9 during the two year period commencing July first, nineteen hundred nine- 10 ty-five, the amount of bonds inclusive of principal, interest and issu- 11 ance costs to be issued for each individual lease, sublease, or other 12 agreement shall not exceed fifteen million dollars annually; provided 13 further that the interest on such bonds may not be deferred through 14 additional borrowing; and provided finally that the total amount of such 15 bonds for all such leases, subleases, or agreements with state supported 16 schools during such period shall not exceed [sixty-five] ninety million 17 dollars. 18 On or before September first of each year, the commissioner shall 19 submit to the chairs of the assembly ways and means committee, the 20 senate finance committee and the director of the budget, a capital plan 21 for those projects expected to be bonded for state supported schools 22 pursuant to this section, within such [sixty-five] ninety million dollar 23 allowance. After application of the principles of the capital assets 24 preservation program, such plan shall accord priority to health and 25 safety considerations and shall specify the name, location, estimated 26 total cost of the project at the time the project is to be bid, the 27 anticipated bid date and the anticipated completion date and may contain 28 any further recommendations the commissioner may deem appropriate. 29 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16168-01-8