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A08617 Summary:

A08617 Actions:

A08617 Floor Votes:

A08617 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8617
 
                               2009-2010 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 29, 2009
                                       ___________
 
        Introduced  by  M. of A. FARRELL, COOK, WRIGHT, BING, POWELL, ESPAILLAT,
          KELLNER -- Multi-Sponsored by -- M. of A. O'DONNELL -- read  once  and
          referred to the Committee on Ways and Means
 
        AN  ACT to amend the New York state financial emergency act for the city
          of New York and the New York city charter, in relation to bond  antic-
          ipation notes
 

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph c of subdivision 4 of section 9-b of section 2 of
     2  chapter 868 of the laws of 1975, constituting the New York state  finan-
     3  cial  emergency act for the city of New York, as added by chapter 201 of
     4  the laws of 1978, is amended to read as follows:
     5    c. Bond anticipation notes shall mature not later  than  [six  months]
     6  one  year  after  their date of issuance and may be renewed for a period
     7  not to exceed [six months] two years, or such longer period  as  may  be
     8  permitted  for  bond  anticipation  notes of the state, from the date of
     9  original issue.
    10    § 2. Paragraph 3 of subdivision h of section 266 of the New York  city

    11  charter,  as  added by vote of the electors at the general election held
    12  in November 2005, is amended to read as follows:
    13    (3) Bond anticipation notes shall mature not later than  [six  months]
    14  one  year  after  their date of issuance and may be renewed for a period
    15  not to exceed [six months] two years, or such longer period  as  may  be
    16  permitted  for  bond  anticipation  notes of the state, from the date of
    17  original issue.
    18    § 3. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11660-01-9