S T A T E   O F   N E W   Y O R K
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                                  6174

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             March 15, 2013
                               ___________

Introduced  by  M.  of  A. TEDISCO, BARCLAY, RAIA, FITZPATRICK -- Multi-
  Sponsored by -- M. of A.  BUTLER, McKEVITT, OAKS, THIELE -- read  once
  and referred to the Committee on Ways and Means

AN  ACT to amend the election law and the state finance law, in relation
  to requiring proposition authorizing the creation of a state  debt  to
  contain  an estimate of the debt service payable thereon and requiring
  publication of an explanation thereof

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

  Section  1.  The election law is amended by adding a new section 7-112
to read as follows:
  S 7-112. BALLOTS; FORM FOR PROPOSITION; ADDITIONAL REQUIREMENTS.  EACH
DULY CERTIFIED PROPOSITION CONTAINED ON THE BALLOT AND SUBMITTED TO  THE
VOTERS  OF  THE  STATE  WHICH  PROVIDES FOR THE CREATION OF A STATE DEBT
SHALL CONTAIN AN ESTIMATE OF THE ANTICIPATED NUMBER OF YEARS OVER  WHICH
SUCH DEBT SHALL BE AMORTIZED AND THE TOTAL EXPECTED DEBT SERVICE PAYABLE
ON  THE  PRINCIPAL  AMOUNT  OF  SUCH  BONDS UNTIL THEIR RETIREMENT. SUCH
INFORMATION SHALL BE PRINTED IN THE LARGEST TYPE WHICH IS PRACTICABLE TO
USE IN THE SPACE PROVIDED FOR THE PROPOSITION. SUCH INFORMATION SHALL BE
PROVIDED TO THE STATE BOARD OF ELECTIONS AND THE SECRETARY OF  STATE  BY
THE STATE COMPTROLLER NOT LATER THAN SEVEN DAYS AFTER THE PASSAGE OF THE
LAW AUTHORIZING SUCH PROPOSITION.
  S 2. Subdivision 2 of section 4-116 of the election law, as amended by
chapter 60 of the laws of 1993, is amended to read as follows:
  2. The state board of elections shall publish once in the week preced-
ing  any  election  at which proposed constitutional amendments or other
propositions or questions are to be submitted to the voters of the state
an abstract of such amendment or question, INCLUDING THE ESTIMATE OF THE
AMORTIZATION PERIOD AND THE TOTAL ANTICIPATED  DEBT  SERVICE  WHERE  THE
PROPOSITION  AUTHORIZES  THE CREATION OF A STATE DEBT, a brief statement
of the law or proceedings authorizing such submission, a statement  that

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07452-01-3
              

A. 6174                             2

such  submission  will be made and the form in which it is to be submit-
ted.
  S  3.  The  state  finance law is amended by adding a new section 6 to
read as follows:
  S 6. STATE PUBLICATION CONCERNING PROPOSITION.  ANY  REPORT,  PUBLICA-
TION, PAMPHLET OR OTHER WRITTEN DOCUMENT PREPARED BY A STATE DEPARTMENT,
AGENCY,  AUTHORITY  OR  OTHER COMPONENT OR DIVISION OF STATE GOVERNMENT,
INTENDED FOR DISTRIBUTION TO THE PUBLIC, WHICH IS  INTENDED  TO  PROMOTE
AWARENESS OF OR EXPLAIN THE PROVISIONS CONTAINED IN, OR INCIDENTAL TO, A
DULY  CERTIFIED  PROPOSITION  TO  BE  CONTAINED  ON THE BALLOT AND TO BE
SUBMITTED TO THE VOTERS OF THE STATE WHICH PROPOSITION PROVIDES FOR  THE
CREATION OF A STATE DEBT SHALL CONTAIN THEREIN AN ESTIMATE OF THE ANTIC-
IPATED  NUMBER  OF YEARS OVER WHICH SUCH DEBT SHALL BE AMORTIZED AND THE
TOTAL EXPECTED DEBT SERVICE PAYABLE ON  THE  PRINCIPAL  AMOUNT  OF  SUCH
BONDS  UNTIL  THEIR RETIREMENT. SUCH INFORMATION SHALL BE PRINTED IN THE
LARGEST TYPE WHICH IS PRACTICABLE TO USE IN SUCH DOCUMENT.
  S 4. This act shall take effect immediately.