New York Senate Bill S02251 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 2251 2025-2026 Regular Sessions  IN SENATE January 16, 2025 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to the bond issuance charge The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 2976 of the public authorities 2 law, as amended by section 1 of part C of chapter 19 of the laws of 3 2010, is amended to read as follows: 4 1. Notwithstanding any other law to the contrary, public benefit 5 corporations (which for purposes of this section shall include indus- 6 trial development agencies created pursuant to title one of article 7 eighteen-A of the general municipal law or any other provision of law 8 and the New York city housing development corporation created pursuant 9 to article twelve of the private housing finance law) which issue bonds, 10 notes or other obligations shall pay to the state a bond issuance charge 11 upon the issuance of such bonds in an amount determined pursuant to 12 subdivision two of this section. Such charge shall be paid to the state 13 department of taxation and finance, upon forms prescribed therefor, no 14 later than fifteen days from the end of the month within which such 15 bonds are issued. With respect to the New York city housing development 16 corporation such bond issuance charge shall be calculated solely with 17 respect to bonds, notes or other obligations issued that require a new 18 allocation from the current year unified state bond volume ceiling of 19 new private activity bond authority or a carry-forward of private activ- 20 ity bond authority. 21 § 2. This act shall take effect on the one hundred twentieth day after 22 it shall have become a law. Effective immediately, the addition, amend- 23 ment and/or repeal of any rule or regulation necessary for the implemen- 24 tation of this act on its effective date are authorized to be made and 25 completed on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04962-01-5