NY A10255

Establishes the "Private Activity Bond Allocation Act of 2016" to create an alternative formula for allocating New York's statewide bond volume ceiling among state agencies, local agencies, and other issuers.

Divides the statewide ceiling into three equal parts: one-third for local agencies (apportioned by population), one-third for state agencies, and one-third as a statewide bond reserve administered by the Director of Budget.

Requires all issuers of qualified small issue bonds to list new employment opportunities with the New York State Department of Labor and one-stop career centers, and to consider workers referred through workforce investment programs.

Creates a five-member Bond Allocation Policy Advisory Panel with designees from the Governor, Senate President, Assembly Speaker, and both minority leaders to monitor allocations and provide policy advice on distribution priorities.

Establishes recapture procedures effective September 15 each year to return unused allocations to the statewide bond reserve, and allows carryforward elections of unused ceiling to future years with prior approval from the Commissioner or Director.

Expires July 1, 2018, with certain carryforward provisions expiring February 15, 2018.