Bill Text: NY S06634 | 2011-2012 | General Assembly | Introduced

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Bill Title: Provides that bond anticipation notes issued during calendar years 2006 and 2007 may not extend more than seven years beyond the original date of issuance of such bond notes.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-07-23 - SIGNED CHAP.264 [S06634 Detail]

Download: New_York-2011-S06634-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6634
                                   I N  S E N A T E
                                     March 7, 2012
                                      ___________
       Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
         and when printed to be committed to the Committee on Local Government
       AN ACT to amend the local finance law, in relation to bond  anticipation
         notes issued during the calendar years 2006 and 2007
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subparagraph 2 of paragraph b of section 23.00 of the local
    2  finance law, as amended by chapter 386 of the laws of 2010,  is  amended
    3  to read as follows:
    4    2. renewals of bond anticipation notes issued originally during calen-
    5  dar  year  two  thousand [four] SIX or two thousand [five] SEVEN may not
    6  extend more than seven years beyond the original date of issue  of  such
    7  bond anticipation notes.
    8    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14896-01-2