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NY S08648

Bill

Official Source

Status

Passed

7/31/2018

Primary Sponsor

Kemp Hannon

Click for details

Origin

Senate

2017-2018 General Assembly

AI Summary

  • Increases the aggregate principal amount limit for hospital and nursing home project bonds and notes from $15.8 billion to $16.6 billion
  • Maintains existing restrictions on refunding bonds, which may exceed the cap only if the present value of debt service on refunding obligations does not exceed the present value of obligations being refunded
  • Preserves requirements that the agency maintain adequate hospital and nursing home capital reserve fund levels when issuing bonds, or deposit additional proceeds to meet reserve fund requirements
  • Takes effect immediately upon enactment

Legislative Description

Relates to the ability of the New York state medical care facilities finance agency to issue certain bonds and notes.

Last Action

SIGNED CHAP.183

7/31/2018

Committee Referrals

Ways and Means6/12/2018
Health5/10/2018

Full Bill Text

No bill text available