S05925 Summary:

BILL NO    S05925 





Enacts the clean water/clean air/green jobs bond act of 2014.
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S05925 Actions:

BILL NO    S05925 

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S05925 Votes:

There are no votes for this bill in this legislative session.
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S05925 Text:

                STATE OF NEW YORK
                               2013-2014 Regular Sessions
                    IN SENATE
                                     August 21, 2013
        Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT authorizing the creation of a state debt to the  amount  of  five
          billion  dollars,  in  relation  to  creating  the  clean  water/clean
          air/green jobs bond act of 2014, to provide moneys for  the  preserva-

          tion,  enhancement,  restoration, and improvement of the state's envi-
          ronment, to provide for state assistance payments  for  such  purpose,
          and  providing  for  the  submission to the people of a proposition or
          question therefor to be voted upon at the general election in November
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  The  clean water/clean air/green jobs bond act of 2014 is
     2  enacted to read as follows:
     4  Section 1. Short title.
     5          2. Creation of a state debt.
     6          3. Bonds of the state.
     7          4. Use of moneys received.
     8    § 1.  Short title. This act shall be known and may  be  cited  as  the
     9  "clean water/clean air/green jobs bond act of 2014".

    10    §  2.  Creation  of  a  state debt. The creation of a state debt to an
    11  amount  not  exceeding   in   the   aggregate   five   billion   dollars
    12  ($5,000,000,000)  is  hereby authorized to provide moneys for the single
    13  purpose of preserving, enhancing, restoring, and improving  the  quality
    14  of  the  state's  environment  by the accomplishment of projects and the
    15  funding of activities by state agencies, public authorities  and  public
    16  benefit  corporations,  municipalities,  and other governmental entities
    17  and not-for-profit corporations for and related to  protecting,  improv-
    18  ing,  and  enhancing  the  quality  of drinking water and enhancement of
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        S. 5925                             2
     1  water bodies; by providing funds for open  space,  farmland  protection,
     2  habitat  restoration,  climate  change adaptation, water quality related
     3  research and development and for parks;  for  repairing,  replacing  and
     4  updating  municipal  wastewater  and  drinking water infrastructure; for
     5  preserving, enhancing, restoring and maintaining the quality of the air;
     6  for restoring and improving contaminated areas and  returning  those  to
     7  productive  use;  for improving environmental health; for protection and
     8  pollution prevention projects in urban  communities,  community  gardens
     9  and greenways.
    10    The  legislature  may,  by appropriate legislation and subject to such
    11  conditions as it may impose, make available out of the proceeds  of  the
    12  sale  of  bonds  authorized  in  this section, moneys disbursed or to be

    13  disbursed for state programs or state  assistance  payments  toward  the
    14  cost  of  such programs undertaken by or through a state or local public
    15  authority or public  benefit  corporation,  not-for-profit  corporation,
    16  county,  city,  town,  village,  school  district, supervisory district,
    17  district corporation, improvement district within a county, city,  town,
    18  village,  or  Indian  tribe residing in whole or in part within New York
    19  state, or any  combination  thereof,  for  the  purpose  of  preserving,
    20  enhancing,  restoring, and improving the quality of the state's environ-
    21  ment and natural resources.
    22    § 3. Bonds of the state. The state comptroller  is  hereby  authorized
    23  and empowered to issue and sell bonds of the state to the amount of five
    24  billion dollars ($5,000,000,000) for the purpose of this act, subject to

    25  the  provisions  of  article  5  of the state finance law. The aggregate
    26  principal amount of such bonds shall not  exceed  five  billion  dollars
    27  excluding  bonds  issued  to refund or otherwise repay bonds theretofore
    28  issued for such purpose; provided, however, that upon any such refunding
    29  or repayment the total aggregate principal amount of  outstanding  bonds
    30  may  be  greater  than five billion dollars only if the present value of
    31  the aggregate debt service of the refunding or  repayment  bonds  to  be
    32  issued  shall not exceed the present value of the aggregate debt service
    33  of the bonds to be refunded or repaid. The method for calculating  pres-
    34  ent value shall be determined by law.
    35    § 4. Use of moneys received. The moneys received by the state from the
    36  sale  of  bonds  sold pursuant to this act shall be expended pursuant to
    37  appropriations in the following amount:

    38    a. For clean water through the protection of  the  state's  watersheds
    39  and  natural  resources;  drinking  water  supply  protection  and flood
    40  control projects, including  the  protection  of  open  space,  farmland
    41  protection,  habitat restoration, flood prevention, climate change adap-
    42  tation, water quality related research and  development,  water  quality
    43  restoration  projects  and  for  state  and municipal parks, two billion
    44  dollars ($2,000,000,000).
    45    b. For clean water infrastructure including repairing, replacing,  and
    46  updating  New York's municipal wastewater infrastructure, septic systems
    47  and drinking water supply systems, two billion dollars ($2,000,000,000).
    48    c. For improving  air  quality,  environmental  health  and  community
    49  restoration,  including  the use of green infrastructure, protection and

    50  pollution  prevention  projects  in  urban  communities,  restoring  and
    51  improving  contaminated  areas  and  returning  those to productive use,
    52  improving environmental health, community  gardens  and  greenways,  one
    53  billion dollars ($1,000,000,000).
    54    §  2.  This  act  shall  take  effect  immediately,  provided that the
    55  provisions of section one of this act shall not take effect  unless  and
    56  until  this  act  shall have been submitted to the people at the general

        S. 5925                             3
     1  election to be held in November 2014, and shall have been approved by  a
     2  majority  of  all  votes  cast for and against it at such election. Upon
     3  approval by the people, section one of this act shall take effect  imme-
     4  diately.  The  ballots  to  be  furnished  for  the  use  of voters upon

     5  submission of this act shall be in the form prescribed by  the  election
     6  law  and  the  proposition  or question to be submitted shall be printed
     7  thereon in substantially the  following  form,  namely,  "Shall  chapter
     8  (here insert the number of the chapter) of the laws of 2014 known as the
     9  clean  water/clean  air/green  jobs  bond  act  of 2014, authorizing the
    10  creation of state debt to provide moneys for the preservation,  enhance-
    11  ment,  restoration,  and improvement of the quality of the state's envi-
    12  ronment and natural resources,  promote  energy  efficiency  and  energy
    13  security;  and  invest  in  the  creation of clean and green jobs in the
    14  amount of five billion dollars be approved?".
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