Assembly Bill A5833

2025-2026 Legislative Session

Authorizes the state comptroller to refund all or any part of bonds

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate & Assembly

  • 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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2025-A5833 (ACTIVE) - Details

See Senate Version of this Bill:
S5442
Law Section:
State Finance Law
Laws Affected:
Amd §56, St Fin L

2025-A5833 (ACTIVE) - Summary

Authorizes the state comptroller to refund all or any part of bonds when it is to the advantage of the state.

2025-A5833 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5833
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 20, 2025
                                ___________
 
 Introduced  by M. of A. PRETLOW -- (at request of the State Comptroller)
   -- read once and referred to the Committee on Ways and Means
 
 AN ACT to amend the state finance law, in  relation  to  the  refund  of
   state bonds
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 1 of section 56 of the state  finance  law,  as
 amended  by  chapter  415  of  the  laws  of 1986, is amended to read as
 follows:
   1. Whenever in [his] THE COMPTROLLER'S opinion it is to the  advantage
 of  the  state the comptroller when issuing and selling any bonds of the
 state may reserve to the state on such  conditions  as  [he]  THE  COMP-
 TROLLER  may  deem advisable and proper the privilege of refunding or of
 redeeming [at not more than three per centum above par value] all or any
 part of such bonds prior to the date on which  they  shall  be  due  and
 payable.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07030-01-5

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