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NY A10393
Bill
Status
Introduced
5/21/2024
Primary Sponsor
Harvey Epstein
Click for details
AI Summary
- Authorizes creation of $20 billion in state debt for capital needs of public housing statewide
- State comptroller empowered to issue and sell bonds subject to article 5 of the state finance law, with aggregate principal not exceeding $20 billion (excluding refunding bonds)
- Bonds must be issued as tax-exempt bonds under federal internal revenue code to preserve tax-exempt status
- Moneys from bond sales shall be expended by appropriation for public housing capital needs through state or local agencies, not-for-profit entities, or higher educational institutions
- Proposition requires approval by majority vote at the general election in November 2024 before taking effect
Legislative Description
Authorizes the creation of state debt in the amount of 20 billion dollars in relation to enacting the save public housing bond act of 2024; provides for submission to the people of such proposal.
Last Action
referred to housing
5/21/2024
Committee Referrals
Housing5/21/2024
Full Bill Text
No bill text available