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NY A01518
Bill
Status
Introduced
1/10/2011
Primary Sponsor
James Tedisco
Click for details
AI Summary
- Requires ballot propositions authorizing creation of state debt to include an estimate of the anticipated amortization period and total expected debt service payable until bond retirement, printed in the largest practicable type
- Mandates the State Comptroller provide debt service information to the State Board of Elections and Secretary of State within seven days after passage of the law authorizing the proposition
- Requires the State Board of Elections to publish the amortization period estimate and total anticipated debt service in weekly publications preceding elections with proposed constitutional amendments or propositions
- Requires all state department, agency, and authority publications intended to explain or promote awareness of debt-authorizing propositions to include the same amortization period and total debt service estimates in the largest practicable type
- Takes effect immediately upon enactment
Legislative Description
Requires that any ballot proposition creating a state debt shall contain an estimate of the amortization period and the total expected debt service payable thereon until the bonds issued pursuant to such proposition are retired.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means1/10/2011
Full Bill Text
No bill text available