NY A09958

Proposes an amendment to Section 5 of Article 8 of the New York State Constitution to extend the exclusion of sewage facility indebtedness from local debt limits.

Changes the deadline for sewage facility indebtedness exclusion from January 1, 2024 to January 1, 2034, allowing an additional 10 years for qualifying debt to be excluded from debt limitation calculations.

Applies only to indebtedness for construction, reconstruction, conveyance, treatment, and disposal of sewage facilities contracted between January 1, 1962 and January 1, 2034.

Requires the legislature to prescribe the method and terms for determining the amount of indebtedness to be excluded under this provision.

Amendment must be referred to the first regular legislative session after the next general assembly election and published for 3 months before the election, per constitutional requirements.