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NY A10495
Bill
Status
6/3/2022
Primary Sponsor
Helene Weinstein
Click for details
AI Summary
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Increases the aggregate principal amount of bonds, notes, or other obligations that the New York City Transitional Finance Authority can issue from $13.5 billion to $23.5 billion
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Excludes bonds issued under separate statutory provisions (sections 2799-ss and 2799-tt) from the debt cap calculation
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Allows outstanding obligations to exceed the cap during refunding or repayment transactions if structured according to local finance law provisions
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Permits additional indebtedness beyond the cap if the combined amount with New York City's indebtedness does not exceed limits under local finance law section 104.00
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Takes effect immediately upon enactment
Legislative Description
Raises the cap on the amount of obligations authorized to be issued by the NYC transitional finance authority.
Last Action
REFERRED TO RULES
6/3/2022