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NY S09322
Bill
Status
Passed
8/28/2024
Primary Sponsor
Peter Harckham
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AI Summary
- Extends the deadline from September 30, 2024 to September 30, 2027 for municipalities to receive enhanced financial assistance from the water pollution control revolving fund
- Increases the allocation subsidy from 33.33% to 50% of the principal loan amount for eligible municipalities that have submitted applications, closed on loans, and commenced construction by the extended deadline
- Reduces the interest rate cap from two-thirds to one-half of the market rate for loans to municipalities meeting the application, closure, and construction commencement requirements by September 30, 2027
- Allows the Environmental Facilities Corporation to administer these enhanced terms in consultation with the Department of Environmental Conservation and the Division of the Budget
- Takes effect immediately upon enactment
Legislative Description
Extends until September 30, 2027 provisions authorizing a fifty percent subsidy in connection with the state water pollution control revolving fund.
Last Action
SIGNED CHAP.284
8/28/2024
Committee Referrals
Ways and Means5/28/2024
Environmental Conservation5/10/2024
Full Bill Text
No bill text available