New York State Assembly

 
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A10562 Summary:

A10562 Actions:

A10562 Committee Votes:

Committee:HOUSING   Chair:Wright      
DATE:06/08/2016AYE/NAY:22/2  Action: Favorable refer to committee Ways and Means        
Wright
Aye
Fitzpatrick
Aye
Cook
Aye
Raia
Aye
Robinson
Aye
Friend
Nay
Rosenthal
Aye
Graf
Nay
Kavanagh
Aye
Johns
Aye
Kearns
Aye
Katz
Excused
Moya
Aye
Walter
Aye
Rodriguez
Aye
Castorina
Aye
Sepulveda
Excused
Mosley
Aye
Kim
Excused
Pichardo
Aye
Linares
Aye
Walker
Aye
Joyner
Excused
Blake
Aye
Dilan
Aye
Bichotte
Aye
Davila
Aye
Cancel
Aye

Committee:WAYS AND MEANS   Chair:Farrell      
DATE:06/08/2016AYE/NAY:26/5  Action: Favorable refer to committee Rules        
Farrell
Aye
Oaks
Nay
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Aye
Fitzpatrick
Aye
Weinstein
Aye
Saladino
Nay
Glick
Aye
Hawley
Nay
Nolan
Excused
Duprey
Excused
Pretlow
Aye
Corwin
Nay
Perry
Aye
Malliotakis
Nay
Colton
Aye
Walter
Aye
Cook
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Wright
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Markey
Aye
Moya
Aye
Weprin
Abstained
Rodriguez
Aye
Ramos
Excused
Braunstein
Aye

Committee:RULES   Chair:Heastie      
DATE:06/14/2016AYE/NAY:27/0  Action: Favorable         
Heastie
Aye
Kolb
Aye
Gottfried
Aye
Tedisco
Aye
Lentol
Aye
Oaks
Aye
Farrell
Aye
Butler
Aye
Gantt
Aye
Crouch
Aye
Nolan
Aye
Finch
Excused
Weinstein
Aye
Barclay
Aye
Hooper
Aye
Raia
Aye
Ortiz
Aye
Duprey
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Wright
Excused
Dinowitz
Excused
Colton
Aye
Magnarelli
Aye
Perry
Aye
Markey
Aye

A10562 Floor Votes:

A10562 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10562
 
                   IN ASSEMBLY
 
                                      June 3, 2016
                                       ___________
 
        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Wright) --
          read once and referred to the Committee on Housing
 
        AN ACT to amend the private housing finance law, in relation to increas-
          ing the bonding authority of the New  York  city  housing  development
          corporation
 
          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 1 of section 656 of the  private
     2  housing  finance  law, as amended by chapter 284 of the laws of 2013, is
     3  amended to read as follows:
     4    c. No bonds or notes of the corporation shall be issued if  upon  such
     5  issuance the aggregate principal amount of bonds and notes of the corpo-
     6  ration  then  outstanding  exceeds the lesser of [eleven] twelve billion
     7  [two hundred fifty] five hundred million dollars or such amount as would
     8  cause the maximum capital reserve fund requirement to exceed eighty-five
     9  million dollars; provided that, in determining such aggregate  principal
    10  amounts  there  shall  be  deducted  (i) all sums then available for the
    11  payment of such bonds or notes either at maturity or through the  opera-
    12  tion of a sinking fund; (ii) the aggregate principal amount of outstand-
    13  ing  bonds  issued (a) to refund notes and (b) to refund bonds, thereto-
    14  fore issued and then outstanding;  and  (iii)  the  aggregate  principal
    15  amount of outstanding notes issued to renew notes theretofore issued and
    16  then  outstanding. The provisions of the prior sentence notwithstanding,
    17  the corporation shall not issue bonds if such issuance shall  cause  the
    18  maximum reserve fund requirement to exceed thirty million dollars unless
    19  prior  to  such  issuance  the  senate and assembly shall have adopted a
    20  concurrent resolution passed by the votes  of  a  majority  of  all  the
    21  members elected to each such house and, subsequent thereto, the governor
    22  shall  evidence in writing the governor's agreement with such resolution
    23  to the chairperson of the corporation, which resolution shall be in full
    24  force and effect on the date of issuance of the  bonds,  permitting  the
    25  maximum  capital  reserve fund requirement to equal or exceed the amount
    26  of the maximum capital reserve fund requirement which would be effective
    27  upon the issuance of the bonds in question, but in no  event  shall  the
    28  maximum  capital  reserve  fund  requirement  exceed eighty-five million
    29  dollars.
    30    § 2. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15518-01-6