A9410 (2025-26 session)

NY State bill

Permanently requires that the first installment of serial bonds mature not later than two years after the date of such bonds; provides that principal installments remaining unpaid on bonds may be called for redemption prior to their date of maturity in such amounts, at such times in such manner and pursuant to such terms as may be determined by the finance board of a municipality, school district or corporation at the time of the issuance thereof; repeals provisions that permanently eliminate the requirement that municipalities provide from current funds an amount equal to at least 5% of the estimated cost of each capital improvement (excluding from such cost state or federal grant funding and certain benefited area assessments) prior to the issuance of bonds or bond anticipation notes to finance such capital improvement.

Title
Relates to installments of bonds; repealer
Type
New York State Assembly bill
Session
2025-26 session
Status
In Assembly Committee
Latest action date
2026-01-07
In committee
Local Governments
Introduced
2025-12-19
Same as
S273
Law section
Local Finance Law

Sponsors

Heard in committee

Same as

Sources