STATE OF NEW YORK
________________________________________________________________________
3201
2019-2020 Regular Sessions
IN SENATE
February 4, 2019
___________
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 on or
25 before such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06229-01-9
