Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to consumer protection |
Jan 29, 2021 |
referred to consumer protection |
Senate Bill S3440
2021-2022 Legislative Session
Sponsored By
(D) 14th Senate District
Archive: Last Bill Status - In Senate Committee Consumer Protection 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
Actions
2021-S3440 (ACTIVE) - Details
2021-S3440 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3440 SPONSOR: COMRIE TITLE OF BILL: An act to amend the public authorities law, in relation to the bond issuance charge SUMMARY OF PROVISIONS: This proposed legislation would amend 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 to exempt the New York City Housing Development Fund Corporation (NY HDFC) from the state bond issuance charge with regard to housing being refinanced for the Purpose of preserving, reha- bilitating and extending the life of such developments. JUSTIFICATION: The imposition of the Bond Issuance Charge (the "BIC") on bonds issued by the New York City Housing Development Fund Corporation ("HDFC" or the
2021-S3440 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3440 2021-2022 Regular Sessions I N S E N A T E January 29, 2021 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection 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 are authorized to be made on or before such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.