Bill Text: NY A03540 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 3540 (Prior Session Legislation)

Introduced

Bill Title: Relates to rental payments from the NYC water board; requires the general fund of NYC to provide to the local water fund an amount equal to the amount requested by NYC pursuant to the base rental sum of money pursuant to the lease terms; requires fifty percent of these sums shall be used to provide rebates to residential water and sewer accounts and fifty percent to pay principal and interest on certain outstanding debt.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2015-05-07 - enacting clause stricken [A03540 Detail]

Download: New_York-2015-A03540-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3540
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 23, 2015
                                      ___________
       Introduced  by  M.  of  A.  SCARBOROUGH -- read once and referred to the
         Committee on Cities
       AN ACT to amend the administrative code of the  city  of  New  York,  in
         relation to rental payments from the New York city water board
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The administrative code of the city of New York is  amended
    2  by adding a new section 5-511 to read as follows:
    3    S  5-511 RENTAL PAYMENTS FROM THE NEW YORK CITY WATER BOARD.  NOTWITH-
    4  STANDING ANY REQUEST OF THE CITY OF NEW YORK FOR A RENTAL  PAYMENT  FROM
    5  THE  NEW YORK CITY WATER BOARD ESTABLISHED PURSUANT TO SECTION ONE THOU-
    6  SAND FORTY-SIX OF THE PUBLIC AUTHORITIES LAW, THE GENERAL  FUND  OF  THE
    7  CITY  OF  NEW  YORK  SHALL  PROVIDE TO THE LOCAL WATER FUND, ESTABLISHED
    8  PURSUANT TO SUBDIVISION TWO OF SECTION ONE THOUSAND FORTY-FIVE-J OF  THE
    9  PUBLIC  AUTHORITIES  LAW AND THE LEASE AGREEMENT BETWEEN THE CITY OF NEW
   10  YORK AND THE NEW YORK CITY WATER BOARD, AN AMOUNT EQUAL  TO  THE  AMOUNT
   11  REQUESTED  BY  THE  CITY  OF NEW YORK PURSUANT TO THE BASE RENTAL SUM OF
   12  MONEY PURSUANT TO THE TERMS OF SUCH LEASE. FIFTY PERCENT OF SUCH SUMS OF
   13  MONIES SHALL BE USED TO PROVIDE REBATES ACROSS THE BOARD TO  RESIDENTIAL
   14  WATER AND SEWER ACCOUNTS AND FIFTY PERCENT TO PAY PRINCIPAL AND INTEREST
   15  ON  OUTSTANDING  DEBT  ISSUED  BY  THE  CITY OF NEW YORK BEFORE NINETEEN
   16  HUNDRED EIGHTY-FIVE FOR CAPITAL PROJECTS IN THE WATER AND SEWER  SYSTEM,
   17  UNTIL  SUCH  DEBT  IS  PAID, WHEREUPON SUCH SUM SHALL BE USED TO PROVIDE
   18  REBATES ACROSS THE BOARD TO RESIDENTIAL WATER AND SEWER ACCOUNTS.
   19    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05909-01-5