Bill Text: NY A05962 | 2009-2010 | General Assembly | Introduced

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Bill Title: CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing an amendment to the constitution, in relation to direct petition and response

Spectrum: Partisan Bill (Democrat 14-0)

Status: (Introduced - Dead) 2010-01-06 - referred to economic development [A05962 Detail]

Download: New_York-2009-A05962-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5962
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 23, 2009
                                      ___________
       Introduced  by M. of A. SCHIMMINGER, MORELLE, WEPRIN, MAGNARELLI, DESTI-
         TO, STIRPE, ORTIZ -- Multi-Sponsored by -- M.  of  A.  AUBRY,  CAHILL,
         DelMONTE, GANTT, HOOPER, KOON, LIFTON, RAMOS -- read once and referred
         to  the  Committee on Economic Development, Job Creation, Commerce and
         Industry
                   CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY
       proposing an amendment to the constitution, in relation to direct  peti-
         tion and response
    1    Section  1.  Resolved  (if  the  Senate concur), That subdivision 3 of
    2  section 8 of article 7  of  the  constitution  be  amended  to  read  as
    3  follows:
    4    3.  Nothing  in this constitution contained shall prevent the legisla-
    5  ture from authorizing the loan of the money of the  state  to  a  public
    6  corporation  to be organized for the purpose of making loans to non-pro-
    7  fit corporations AND TO ELIGIBLE BUSINESSES or for the purpose of  guar-
    8  anteeing loans made by banking organizations, as [that term] THESE TERMS
    9  shall  be defined by the legislature, to finance the construction of new
   10  industrial or manufacturing plants, the construction of new buildings to
   11  be used for research and development, the construction of other eligible
   12  business facilities, and for the purchase  of  machinery  and  equipment
   13  related  to  such  new  industrial or manufacturing plants, research and
   14  development buildings, and other eligible business  facilities  in  this
   15  state  or  the  acquisition,  rehabilitation or improvement of former or
   16  existing industrial or manufacturing plants, buildings to  be  used  for
   17  research  and  development,  other  eligible  business  facilities,  and
   18  machinery and equipment in this state, OR TO FINANCE THE CONSTRUCTION OF
   19  INFRASTRUCTURE  FOR  ELIGIBLE  BUSINESSES,  INCLUDING  WATER  AND  SEWER
   20  SYSTEMS, UTILITY LINES AND TELECOMMUNICATIONS LINKS, OR TO FINANCE ENER-
   21  GY  EFFICIENCY,  POLLUTION  PREVENTION, POLLUTION CONTROL OR ALTERNATIVE
   22  ENERGY SYSTEMS FOR ELIGIBLE BUSINESSES including the acquisition of real
   23  property therefor, and the use of such money by such public  corporation
   24  for  such  purposes,  to improve employment opportunities in any area of
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD89111-01-9
       A. 5962                             2
    1  the state, provided, however, that any such plants, buildings or facili-
    2  ties or machinery and equipment therefor shall not be (i) primarily used
    3  in making retail sales of goods or services to customers who  personally
    4  visit  such  facilities  to  obtain  such goods or services or (ii) used
    5  primarily as a hotel, apartment house or other place of  business  which
    6  furnishes  dwelling space or accommodations to either residents or tran-
    7  sients, and provided further that [any loan by such  public  corporation
    8  shall  not  exceed  sixty per centum of the cost of any such project and
    9  the repayment of which shall be secured  by  a  mortgage  thereon  which
   10  shall  not be a junior encumbrance thereon by more than fifty per centum
   11  of such cost or by a security interest  if  personalty,  and  that]  the
   12  amount  of  any guarantee of a loan made by a banking organization shall
   13  not exceed eighty per centum of the cost of any such project,  AND  THAT
   14  SUCH  LOANS  OR LOAN GUARANTEES BY SUCH PUBLIC CORPORATION ARE EVIDENCED
   15  BY A BOND, NOTE OR OTHER  OBLIGATION  SECURED  BY  A  SECURITY  INTEREST
   16  DEEMED  APPROPRIATE  BY  THE  LEGISLATURE TO PROTECT THE INTEREST OF THE
   17  PUBLIC CORPORATION AND THE STATE.
   18    S 2. Resolved (if the Senate concur), That the foregoing amendment  be
   19  referred  to  the  first regular legislative session convening after the
   20  next succeeding general election of members of  the  assembly,  and,  in
   21  conformity  with  section  1  of  article  19  of  the  constitution, be
   22  published for 3 months previous to the time of such election.