NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A7408
SPONSOR: Ramos TITLE OF BILL:
An act to amend chapter 719 of the laws of 1980 amending the local
finance law relating to the period of probable usefulness of certain
judgments, compromised claims or settled claims, in relation to extend-
ing the provisions of such chapter
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to extend authority, until June 15, 2028,
for municipalities, to finance judgements related to certain tax
proceedings including certiorari and small claims assessment review.
SUMMARY OF PROVISIONS:
Section 1 of the bill would extend the financing authority for munici-
palities related to certain, tax proceedings for an additional five
years.
JUSTIFICATION:
Allowing municipalities to spread the cost of certain judgments over
several years will result in the judgments having less impact on the
current fiscal year's budget. This authorization should be extended for
an additional five years, thereby continuing flexibility provided to
municipalities to pay certain judgments.
PRIOR LEGISLATIVE HISTORY:
2017-2018: A.10348 - Chapter 87 of the Laws of 2018.
2013-2014: A.7099 - Chapter 77 of the Laws of 2013.
2007-2008: A.10733 - Chapter 122 of the Laws of 2008.
FISCAL IMPLICATIONS: None to the State.
EFFECTIVE DATE:
Immediately.
STATE OF NEW YORK
________________________________________________________________________
7408
2023-2024 Regular Sessions
IN ASSEMBLY
May 19, 2023
___________
Introduced by M. of A. RAMOS -- read once and referred to the Committee
on Local Governments
AN ACT to amend chapter 719 of the laws of 1980 amending the local
finance law relating to the period of probable usefulness of certain
judgments, compromised claims or settled claims, in relation to
extending the provisions of such chapter
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2 of chapter 719 of the laws of 1980 amending the
2 local finance law relating to the period of probable usefulness of
3 certain judgments, compromised claims or settled claims, as amended by
4 chapter 87 of the laws of 2018, is amended to read as follows:
5 § 2. This act shall take effect immediately and the provisions of
6 section one of this act shall remain in force and effect to and includ-
7 ing June 15, [2023] 2028.
8 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10836-01-3
