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A10135 Summary:

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A10135 Floor Votes:

A10135 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10135
 
                   IN ASSEMBLY
 
                                      June 16, 2014
                                       ___________
 
        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Sweeney) --
          read once and referred to the Committee on Ways and Means
 
        AN ACT to amend part H of chapter 1 of the laws of  2003,  amending  the
          tax  law  relating to brownfield redevelopment tax credits, remediated
          brownfield credit for real property  taxes  for  qualified  sites  and

          environmental  remediation insurance credits, in relation to tax cred-
          its for certain  sites;  to  amend  the  public  authorities  law,  in
          relation  to the superfund program; and making an appropriation there-
          for
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  31  of  part H of chapter 1 of the laws of 2003,
     2  amending the tax law relating to brownfield redevelopment  tax  credits,
     3  remediated brownfield credit for real property taxes for qualified sites
     4  and  environmental  remediation insurance credits, as amended by chapter
     5  474 of the laws of 2012, is amended to read as follows:
     6    § 31. The tax credits allowed under section 21, 22 or 23  of  the  tax
     7  law  and  the corresponding provisions in articles 9, 9-A, 22, 32 and 33

     8  of the tax law, as added by the provisions of sections one through twen-
     9  ty-nine of this act,  shall  not  be  applicable  if  the  [remediation]
    10  certificate of completion required to qualify for any of such credits is
    11  issued after [December 31, 2015] March 31, 2017.
    12    § 2. Subdivision 3 of section 1285-q of the public authorities law, as
    13  added  by  section  6  of  part  I  of chapter 1 of the laws of 2003, is
    14  amended to read as follows:
    15    3. The maximum amount of bonds that may be issued for the  purpose  of
    16  financing  hazardous  waste site remediation projects authorized by this
    17  section shall not exceed one billion [two] five hundred million  dollars
    18  and  shall  not  exceed one hundred twenty million dollars for appropri-
    19  ations enacted for any state fiscal year, provided that  the  bonds  not

    20  issued for such appropriations may be issued pursuant to reappropriation
    21  in  subsequent  fiscal years. No bonds shall be issued for the repayment
    22  of any new appropriation enacted after March thirty-first, two  thousand
    23  [thirteen]  seventeen  for  hazardous  waste  site  remediation projects
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15509-05-4
        A. 10135                            2
 
     1  authorized by this section. Amounts authorized  to  be  issued  by  this
     2  section  shall  be  exclusive  of  bonds issued to fund any debt service
     3  reserve funds, pay costs of issuance of such bonds, and bonds  or  notes

     4  issued  to  refund  or otherwise repay bonds or notes previously issued.
     5  Such bonds and notes of the corporation shall  not  be  a  debt  of  the
     6  state,  and  the  state  shall  not be liable thereon, nor shall they be
     7  payable out of any funds other than those appropriated by this state  to
     8  the  corporation  for  debt service and related expenses pursuant to any
     9  service contracts executed pursuant to subdivision one of this  section,
    10  and  such  bonds and notes shall contain on the face thereof a statement
    11  to such effect.
    12    § 3. The sum of one hundred million dollars ($100,000,000)  is  hereby
    13  appropriated  to the department of environmental conservation out of any
    14  moneys in the state treasury in the capital fund to the  credit  of  the
    15  hazardous  waste  cleanup  account, not otherwise appropriated, and made

    16  immediately available, for the purpose of carrying out the provisions of
    17  this act. Such moneys shall be payable on the audit and warrant  of  the
    18  comptroller  on  vouchers  certified  or approved by the commissioner of
    19  environmental conservation in the manner prescribed by law.
    20    § 4. This act shall take  effect  immediately  provided  that  section
    21  three  of this act shall be deemed to have been in full force and effect
    22  on and after April 1, 2014.