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A05056 Summary:

BILL NOA05056
 
SAME ASSAME AS S06940
 
SPONSORConrad
 
COSPNSRThiele, Jacobson
 
MLTSPNSR
 
Amd 124.10 & 136.00, Loc Fin L
 
Extends the period of time for which a municipality has the power to exclude indebtedness contracted for sewage facilities.
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A05056 Actions:

BILL NOA05056
 
03/01/2023referred to local governments
03/09/2023reported referred to ways and means
05/16/2023reported referred to rules
05/17/2023reported
05/17/2023rules report cal.158
05/17/2023ordered to third reading rules cal.158
05/17/2023passed assembly
05/17/2023delivered to senate
05/17/2023REFERRED TO LOCAL GOVERNMENT
06/05/2023SUBSTITUTED FOR S6940
06/05/20233RD READING CAL.1403
06/05/2023PASSED SENATE
06/05/2023RETURNED TO ASSEMBLY
11/13/2023delivered to governor
11/17/2023signed chap.641
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A05056 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A5056
 
SPONSOR: Conrad
  TITLE OF BILL: An act to amend the local finance law, in relation to extending the exclusion of indebtedness contracted for sewage facilities   PURPOSE OR GENERAL IDEA OF BILL: This legislation implements the proposed constitutional amendment extending the authorization for municipalities to exclude sewer debt from their constitutional debt limits.   SUMMARY OF SPECIFIC PROVISIONS: Section one of the bill would amend Local Finance Law § 124.10 to extend, until 2034, the existing authorization for municipalities to exclude from their constitutional debt limitations indebtedness issued for the construction or reconstruction of facilities for the conveyance, treatment and disposal of sewage. Section two of the bill would make a conforming amendment to Local Finance Law § 136.00(4-a), which relates to calculation of the debt limit.   JUSTIFICATION:c Since 1964, counties, cities, towns and villages have been authorized to exclude sewer-related debt from their constitutional debt limits, ensur- ing they have the ability to finance other essential capital require- ments. The constitutional authorization for the exclusion of sewer-re- lated debt expires at the end of 2023. The bill makes the necessary changes to the Local Finance Law to implement the proposed constitu- tional amendment extending the sewer debt exclusion, once the amendment has been approved by the voters.   PRIOR LEGISLATIVE HISTORY: This is new legislation. Similar legislation was enacted in 2014.   FISCAL IMPLICATIONS: None for the State.   EFFECTIVE DATE: This act shall take effect on the same date as the amendment to the constitution relating to sewer debt exclusion, S.4597/A.3776, takes effect.
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A05056 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5056
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 1, 2023
                                       ___________
 
        Introduced  by M. of A. CONRAD, THIELE -- (at request of the State Comp-
          troller) -- read once and referred to the Committee on  Local  Govern-
          ments
 
        AN  ACT  to  amend  the  local finance law, in relation to extending the
          exclusion of indebtedness contracted for sewage facilities

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Paragraphs a and c of section 124.10 of the local finance
     2  law, as amended by chapter 150 of the laws of 2014, are amended to  read
     3  as follows:
     4    a.  In  ascertaining  the  power of a municipality to contract indebt-
     5  edness, there may be excluded any outstanding indebtedness contracted by
     6  such municipality on or after January first, nineteen hundred sixty-two,
     7  and prior to January first, two thousand [twenty-four] thirty-four,  for
     8  the  construction  or  reconstruction  of facilities for the conveyance,
     9  treatment and disposal of sewage.
    10    c. The term indebtedness, as  used  in  this  section,  shall  include
    11  indebtedness  evidenced by obligations issued on or after January first,
    12  two thousand [twenty-four] thirty-four for the purpose of financing  any
    13  indebtedness contracted for the purposes and within the period specified
    14  in paragraph a of this section.
    15    §  2.  Paragraph  4-a  of  section 136.00 of the local finance law, as
    16  amended by chapter 150 of the laws  of  2014,  is  amended  to  read  as
    17  follows:
    18    4-a.  Indebtedness  for  sewage  facilities.  In the case of a munici-
    19  pality, the amount of outstanding indebtedness contracted  on  or  after
    20  January  first,  nineteen hundred sixty-two, and prior to January first,
    21  two thousand [twenty-four] thirty-four, for the construction  or  recon-
    22  struction  of  facilities  for the conveyance, treatment and disposal of
    23  sewage. The amount of such indebtedness to be deducted shall  be  ascer-
    24  tained pursuant to section 124.10 of this chapter.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09517-01-3

        A. 5056                             2
 
     1    §  3.  This  act shall take effect on the effective date of the amend-
     2  ments to the constitution contained in the concurrent  resolution  enti-
     3  tled  "CONCURRENT RESOLUTION OF THE SENATE AND THE ASSEMBLY proposing an
     4  amendment to section 5 of article 8 of the constitution, in relation  to
     5  the  exclusion  of  indebtedness  contracted  for  sewage facilities" as
     6  proposed in legislative bills numbers S. 4597 and A. 3776 takes  effect,
     7  in accordance with article 19 of the constitution.
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