Senate Bill S2376

2017-2018 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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2017-S2376 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2976, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4539
2013-2014: S1745
2015-2016: S3598
2019-2020: S3201
2021-2022: S3440
2023-2024: S1262

2017-S2376 (ACTIVE) - Summary

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

2017-S2376 (ACTIVE) - Sponsor Memo

2017-S2376 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2376
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2017
                                ___________
 
 Introduced by Sen. ALCANTARA -- 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.
   § 2. This act shall take effect on the one hundred twentieth day after
 it shall have become a law. Effective immediately, the addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  of this act on its effective date is authorized to be made on or
 before such effective date.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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