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A09884 Summary:

BILL NOA09884
 
SAME ASSAME AS S04140
 
SPONSORSchimminger
 
COSPNSROaks
 
MLTSPNSR
 
Add 7-112, amd 4-116, El L; add 6 & 65-a, amd 92 & 97-rrr, St Fin L
 
Requires that any ballot proposition creating a state debt shall contain an estimate of the amortization period and the total expected debt service payable thereon until the bonds issued pursuant to such proposition are retired; relates to deposits to the tax stabilization reserve fund; provides that at least 10% of any surplus shall be used to pay down state debt.
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