Assembly Bill A7741

2011-2012 Legislative Session

Relates to the bond issuance charge

download bill text pdf

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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-A7741 (ACTIVE) - Details

See Senate Version of this Bill:
S4539
Current Committee:
Assembly Housing
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง2976, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2013-2014: S1745
2015-2016: S3598
2017-2018: S2376
2019-2020: S3201
2021-2022: S3440
2023-2024: S1262

2011-A7741 (ACTIVE) - Summary

Relates to the bond issuance charge as applied to the New York city housing development corporation.

2011-A7741 (ACTIVE) - Bill Text download pdf 

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

                                  7741

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 16, 2011
                               ___________

Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit-
  tee on Housing

AN  ACT  to  amend  the  public authorities law, in relation to the bond
  issuance charge

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

  Section  1.  Subdivision  1  of section 2976 of the public authorities
law, as amended by section 1 of part C of chapter  19  of  the  laws  of
2010, is amended to read as follows:
  1.  Notwithstanding  any  other  law  to  the contrary, public benefit
corporations (which for purposes of this section  shall  include  indus-
trial  development  agencies  created  pursuant  to title one of article
eighteen-A of the general municipal law or any other  provision  of  law
and  the  New York city housing development corporation created pursuant
to article twelve of the private housing finance law) which issue bonds,
notes or other obligations shall pay to the state a bond issuance charge
upon the issuance of such bonds in  an  amount  determined  pursuant  to
subdivision  two of this section. Such charge shall be paid to the state
department of taxation and finance, upon forms prescribed  therefor,  no
later  than  fifteen  days  from  the end of the month within which such
bonds are issued.  WITH RESPECT TO THE NEW YORK CITY HOUSING DEVELOPMENT
CORPORATION SUCH BOND ISSUANCE CHARGE SHALL BE  CALCULATED  SOLELY  WITH
RESPECT  TO  BONDS, NOTES OR OTHER OBLIGATIONS ISSUED THAT REQUIRE A NEW
ALLOCATION FROM THE CURRENT YEAR UNIFIED STATE BOND  VOLUME  CEILING  OF
NEW PRIVATE ACTIVITY BOND AUTHORITY OR A CARRY-FORWARD OF PRIVATE ACTIV-
ITY BOND AUTHORITY.
  S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law; provided, however, that effective immediate-
ly,  the  addition,  amendment  and/or  repeal of any rule or regulation
necessary for the implementation of this act on its  effective  date  is
authorized  and  directed  to  be  made  and completed on or before such
effective date.

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

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