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NY S09417
Bill
Status
6/28/2024
Primary Sponsor
Monica Martinez
Click for details
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 to mature up to two years after bond issuance or bond anticipation note issuance.
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Extends the deadline for bonds issued with flexible redemption terms from July 15, 2024 to July 15, 2027, permitting municipalities to determine redemption amounts, timing, and manner at the time of issuance.
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Extends the deadline for municipalities to issue variable interest rate bonds from July 15, 2024 to July 15, 2027, allowing interest rates to vary according to formulas with maximum rate caps.
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Extends the deadline for financing objects or purposes with specified useful lives through bond issuance from July 15, 2024 to July 15, 2027, including bond refunding and note redemption options.
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Extends the expiration date of 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
SIGNED CHAP.167
6/28/2024