Assembly Bill A2672

2011-2012 Legislative Session

Limits New York City water board's authority to increase rates charged

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A2672 (ACTIVE) - Details

See Senate Version of this Bill:
S4369
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง1045-j, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11167
2013-2014: A906, S3599
2015-2016: A3351, S3323
2017-2018: A5416
2019-2020: A4035
2021-2022: A9205
2023-2024: A965

2011-A2672 (ACTIVE) - Summary

Limits New York City water board's authority to increase rates charged by no more than 5% annually or current rate of inflation, whichever is greater.

2011-A2672 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2672

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 19, 2011
                               ___________

Introduced by M. of A. WEPRIN -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN  ACT to amend the public authorities law, in relation to increases in
  fees, rates, rents or other charges established by the New  York  city
  water board

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 1045-j of the  public  authorities
law,  as added by chapter 513 of the laws of 1984, is amended to read as
follows:
  1. The water board shall establish, fix and revise, from time to time,
fees, rates, rents  or  other  charges  for  the  use  of,  or  services
furnished,  rendered  or made available by, the sewerage system or water
system, or both, as the case may be, owned by the water  board  pursuant
to  this title in such amount  at least sufficient at all times so as to
provide funds in an  amount  sufficient  together  with  other  revenues
available  to the board, if any, (i) to pay to the authority, in accord-
ance with any agreement with the authority, an amount sufficient for the
purpose of paying the principal of and the interest on  the  outstanding
notes or bonds of the authority as the same shall become due and payable
and maintaining or funding a capital or debt service reserve fund there-
for  and,  to  the extent requested by the city in, or annually pursuant
to, the agreement to pay to the city, in accordance with the  agreement,
an  amount  sufficient  for  the  purpose of paying the principal of and
interest on general obligation bonds thereof issued for or allocable  to
the  water system or sewerage system or both, as the case may be, as the
same shall become due and payable, and  to  maintain  or  fund  reserves
therefor,  (ii) to pay to the city, in accordance with the agreement, an
amount sufficient for the purpose of paying the costs of  administering,
maintaining,  repairing and operating and the cost of constructing capi-
tal improvements to the water system or sewerage system or both, as  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05051-01-1
              

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