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

                                  8121

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             August 26, 2013
                               ___________

Introduced  by  M.  of  A. SWEENEY, WEISENBERG, COLTON, LIFTON, SCHIMEL,
  THIELE, ABINANTI, FAHY, OTIS, LAVINE, PAULIN, STIRPE, BARRETT,  BRAUN-
  STEIN,  MAYER,  SEPULVEDA,  McDONALD -- Multi-Sponsored by -- M. of A.
  GLICK, LENTOL -- read once and referred to the Committee  on  Environ-
  mental Conservation

AN  ACT  authorizing  the creation of a state debt to the amount of five
  billion  dollars,  in  relation  to  creating  the  clean  water/clean
  air/green  jobs  bond act of 2014, to provide moneys for the preserva-
  tion, enhancement, restoration, and improvement of the  state's  envi-
  ronment,  to  provide  for state assistance payments for such purpose,
  and providing for the submission to the people  of  a  proposition  or
  question therefor to be voted upon at the general election in November
  2014

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

  Section 1. The clean water/clean air/green jobs bond act  of  2014  is
enacted to read as follows:
            CLEAN WATER/CLEAN AIR/GREEN JOBS BOND ACT OF 2014

Section 1. Short title.
        2. Creation of a state debt.
        3. Bonds of the state.
        4. Use of moneys received.
  S 1.   Short  title.  This  act shall be known and may be cited as the
"clean water/clean air/green jobs bond act of 2014".
  S 2. Creation of a state debt. The creation of  a  state  debt  to  an
amount   not   exceeding   in   the   aggregate   five  billion  dollars
($5,000,000,000) is hereby authorized to provide moneys for  the  single
purpose  of  preserving, enhancing, restoring, and improving the quality
of the state's environment by the accomplishment  of  projects  and  the
funding  of  activities by state agencies, public authorities and public

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11639-01-3
              

A. 8121                             2

benefit corporations, municipalities, and  other  governmental  entities
and  not-for-profit  corporations for and related to protecting, improv-
ing, and enhancing the quality of  drinking  water  and  enhancement  of
water  bodies;  by  providing funds for open space, farmland protection,
habitat restoration, climate change adaptation,  water  quality  related
research  and  development  and  for parks; for repairing, replacing and
updating municipal wastewater and  drinking  water  infrastructure;  for
preserving, enhancing, restoring and maintaining the quality of the air;
for  restoring  and  improving contaminated areas and returning those to
productive use; for improving environmental health; for  protection  and
pollution  prevention  projects  in urban communities, community gardens
and greenways.
  The legislature may, by appropriate legislation and  subject  to  such
conditions  as  it may impose, make available out of the proceeds of the
sale of bonds authorized in this section,  moneys  disbursed  or  to  be
disbursed  for  state  programs  or state assistance payments toward the
cost of such programs undertaken by or through a state or  local  public
authority  or  public  benefit  corporation, not-for-profit corporation,
county, city, town,  village,  school  district,  supervisory  district,
district  corporation, improvement district within a county, city, town,
village, or Indian tribe residing in whole or in part  within  New  York
state,  or  any  combination  thereof,  for  the  purpose of preserving,
enhancing, restoring, and improving the quality of the state's  environ-
ment and natural resources.
  S  3.  Bonds  of the state. The state comptroller is hereby authorized
and empowered to issue and sell bonds of the state to the amount of five
billion dollars ($5,000,000,000) for the purpose of this act, subject to
the provisions of article 5 of the  state  finance  law.  The  aggregate
principal  amount  of  such  bonds shall not exceed five billion dollars
excluding bonds issued to refund or otherwise  repay  bonds  theretofore
issued for such purpose; provided, however, that upon any such refunding
or  repayment  the total aggregate principal amount of outstanding bonds
may be greater than five billion dollars only if the  present  value  of
the  aggregate  debt  service  of the refunding or repayment bonds to be
issued shall not exceed the present value of the aggregate debt  service
of  the bonds to be refunded or repaid. The method for calculating pres-
ent value shall be determined by law.
  S 4. Use of moneys received. The moneys received by the state from the
sale of bonds sold pursuant to this act shall be  expended  pursuant  to
appropriations in the following amount:
  a.  For  clean  water through the protection of the state's watersheds
and natural  resources;  drinking  water  supply  protection  and  flood
control  projects,  including  the  protection  of  open space, farmland
protection, habitat restoration, flood prevention, climate change  adap-
tation,  water  quality  related research and development, water quality
restoration projects and for state  and  municipal  parks,  two  billion
dollars ($2,000,000,000).
  b.  For clean water infrastructure including repairing, replacing, and
updating New York's municipal wastewater infrastructure, septic  systems
and drinking water supply systems, two billion dollars ($2,000,000,000).
  c.  For  improving  air  quality,  environmental  health and community
restoration, including the use of green infrastructure,  protection  and
pollution  prevention  projects  in  urban  communities,  restoring  and
improving contaminated areas and  returning  those  to  productive  use,
improving  environmental  health,  community  gardens and greenways, one
billion dollars ($1,000,000,000).

A. 8121                             3

  S 2. This  act  shall  take  effect  immediately,  provided  that  the
provisions  of  section one of this act shall not take effect unless and
until this act shall have been submitted to the people  at  the  general
election  to be held in November 2014, and shall have been approved by a
majority  of  all  votes  cast for and against it at such election. Upon
approval by the people, section one of this act shall take effect  imme-
diately.  The  ballots  to  be  furnished  for  the  use  of voters upon
submission of this act shall be in the form prescribed by  the  election
law  and  the  proposition  or question to be submitted shall be printed
thereon in substantially the  following  form,  namely,  "Shall  chapter
(here insert the number of the chapter) of the laws of 2014 known as the
clean  water/clean  air/green  jobs  bond  act  of 2014, authorizing the
creation of state debt to provide moneys for the preservation,  enhance-
ment,  restoration,  and improvement of the quality of the state's envi-
ronment and natural resources,  promote  energy  efficiency  and  energy
security;  and  invest  in  the  creation of clean and green jobs in the
amount of five billion dollars be approved?".