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A07400 Summary:

BILL NOA07400
 
SAME ASSAME AS S06122
 
SPONSORPheffer Amato
 
COSPNSR
 
MLTSPNSR
 
Amd 2, Chap 130 of 1998
 
Extends provisions of law relating to temporary investments by local governments.
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A07400 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7400
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 19, 2023
                                       ___________
 
        Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
          Committee on Cities
 
        AN ACT to  amend chapter 130 of the laws of 1998, amending  the  general
          municipal law relating to temporary investments by local  governments,
          in relation to extending the expiration of the provisions thereof

          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 130 of the laws of 1998, amending  the
     2  general municipal law relating to temporary investments by local govern-
     3  ments,    as amended by section 1 of item OO of subpart B of part XXX of
     4  chapter 58 of the laws of 2020, is amended to read as follows:
     5    § 2. This act shall take effect June 30, 1998 and shall expire and  be
     6  deemed  repealed on July 1, [2023] 2026, provided, however, that invest-
     7  ments purchased prior to the expiration of  this  act  pursuant  to  the
     8  provisions  of paragraph a of subdivision 3 of section 11 of the general
     9  municipal law, as designated and amended by section  one  of  this  act,
    10  shall  continue to be subject to the conditions contained in such subdi-
    11  vision to the same extent as they had been subject thereto prior to such
    12  expiration and repeal.
    13    § 2. This act shall take effect immediately; provided however, that if
    14  this act shall have become a law after July 1, 2023 it shall  be  deemed
    15  to have been in full force and effect on and after July 1, 2023.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10837-01-3
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