Senate Bill S4539

2011-2012 Legislative Session

Relates to the bond issuance charge

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions 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-S4539 (ACTIVE) - Details

See Assembly Version of this Bill:
A7741
Current Committee:
Senate Corporations, Authorities And Commissions
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-S4539 (ACTIVE) - Summary

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

2011-S4539 (ACTIVE) - Sponsor Memo

2011-S4539 (ACTIVE) - Bill Text download pdf 

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

                                  4539

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 11, 2011
                               ___________

Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when
  printed  to be committed to the Committee on Corporations, Authorities
  and Commissions

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

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