S05442 Summary:
| BILL NO | S05442 |
| SAME AS | SAME AS A05833 |
| SPONSOR | KRUEGER |
| COSPNSR | |
| MLTSPNSR | |
| Amd §56, St Fin L | |
| Authorizes the state comptroller to refund all or any part of bonds when it is to the advantage of the state. | |
S05442 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 5442 2025-2026 Regular Sessions IN SENATE February 21, 2025 ___________ Introduced by Sen. KRUEGER -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to the refund of state bonds 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 56 of the state finance law, as 2 amended by chapter 415 of the laws of 1986, is amended to read as 3 follows: 4 1. Whenever in [his] the comptroller's opinion it is to the advantage 5 of the state the comptroller when issuing and selling any bonds of the 6 state may reserve to the state on such conditions as [he] the comp- 7 troller may deem advisable and proper the privilege of refunding or of 8 redeeming [at not more than three per centum above par value] all or any 9 part of such bonds prior to the date on which they shall be due and 10 payable. 11 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07030-01-5