NY A10971

Establishes the "Private Activity Bond Allocation Act of 2018" to redistribute New York's federal tax-exempt bond volume ceiling among state agencies, local agencies, and other issuers under Internal Revenue Code Section 146.

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

Requires local agencies and other issuers to apply for allocations from the statewide bond reserve, with the commissioner ensuring equitable distribution and consulting relevant state agencies before approving applications.

Creates a New York State Bond Allocation Policy Advisory Panel with five members (appointed by the governor, senate president, assembly speaker, and both minority leaders) to provide policy advice and monitor the allocation process throughout the year.

Expires July 1, 2020, with most provisions automatically repealing unless extended by legislation; subdivisions of the carryforward section expire February 15, 2020.