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NY S01529
Bill
Status
1/12/2021
Primary Sponsor
James Tedisco
Click for details
AI Summary
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Requires ballot propositions authorizing creation of state debt to include an estimate of the anticipated amortization period and total expected debt service payable until bond retirement, printed in the largest practicable type.
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Mandates the state comptroller provide debt service estimates to the state board of elections and secretary of state within seven days after passage of the authorizing law.
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Requires the state board of elections to publish debt service estimates and amortization period in the abstract published the week preceding any election with proposed state debt propositions.
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Requires all state government reports, publications, pamphlets, or written documents distributed to the public that promote or explain state debt propositions to include the same debt service and amortization estimates in the largest practicable type.
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Takes effect immediately upon enactment.
Legislative Description
Requires that any ballot proposition creating a state debt shall contain an estimate of the amortization period and the total expected debt service payable thereon until the bonds issued pursuant to such proposition are retired.
Last Action
REFERRED TO ELECTIONS
1/5/2022