Bill Text: NY A04986 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 4986 (Prior Session Legislation)

Introduced

Bill Title: Authorizes the state to forgive outstanding loan debt from the Oswego port authority.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2020-07-17 - held for consideration in ways and means [A04986 Detail]

Download: New_York-2019-A04986-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          4986
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 6, 2019
                                       ___________
        Introduced  by  M. of A. BARCLAY, MANKTELOW -- read once and referred to
          the Committee on Ways and Means
        AN ACT authorizing the forgiveness of loans received by the Oswego  Port
          Authority
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Notwithstanding any inconsistent general, special or  local
     2  law  to  the contrary, New York State through the division of the budget
     3  is hereby authorized to forgive outstanding amounts on all loans made to
     4  the Oswego Port Authority between the years of 1958 and 1981. The  total
     5  amount  of outstanding debt owed to the state to be forgiven pursuant to
     6  this act is $3,755,926. Any agreements entered  into  between  the  Port
     7  Authority  and  New  York  State  to  repay  such  obligations  shall be
     8  canceled.
     9    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02523-01-9