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NY A10611
Bill
Status
Passed
8/24/2018
Primary Sponsor
Steve Stern
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AI Summary
- Extends the eligibility period for municipalities to receive enhanced financial assistance from the water pollution control revolving fund from September 30, 2018 to September 30, 2021
- Increases the allocation rate for municipalities that submitted, closed, and commenced construction on eligible projects during the extended period from 33.33 percent to 50 percent of the outstanding loan principal
- Reduces the interest rate cap for loans to eligible municipalities from two-thirds of the market rate to one-half of the market rate during the extended period
- Applies to municipalities that had submitted applications accepted by the Environmental Facilities Corporation and commenced construction of water pollution control projects
Legislative Description
Extends provisions relating to water pollution control revolving fund agreements.
Last Action
signed chap.250
8/24/2018
Committee Referrals
Rules6/6/2018
Ways and Means5/15/2018
Environmental Conservation5/9/2018
Full Bill Text
No bill text available