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