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NY A10282
Bill
Status
5/16/2024
Primary Sponsor
Angelo Santabarbara
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AI Summary
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Extends the deadline for serial bond maturity provisions from July 15, 2024 to July 15, 2027, allowing the first installment of bonds to mature up to two years after issuance during this extended period.
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Extends the period for flexible bond redemption practices from July 15, 2024 to July 15, 2027, permitting municipalities, school districts, and district corporations to redeem bonds prior to maturity at prices determined by the issuer.
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Extends the deadline for variable interest rate bonds from July 15, 2024 to July 15, 2027, allowing municipalities to issue bonds with interest rates that vary according to a formula with a maximum rate cap.
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Extends the period for financing objects or purposes with a determined useful life from July 15, 2024 to July 15, 2027, including provisions for issuing bonds to redeem or refund previously issued notes and bonds.
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Extends expiration dates of specified mandate relief provisions in chapter 413 of the laws of 1991 from July 15, 2024 to July 15, 2027.
Legislative Description
Relates to local government borrowing practices and mandate relief; extends certain provisions relating to providing relief to local governments for certain mandated programs and services to 2027.
Last Action
substituted by s9417
6/3/2024