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Who cares
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Sponsors
1 Co-sponsor
History
- Substituted by A8079A
- Ordered to third reading cal.1378
- Committee discharged and committed to rules
- Print number 4075a
- Amend (t) and recommit to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Enacts the "community college region capital financing act of 2010"
Signed by Governor · Sponsor William Parment
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the education law, the public authorities law, chapter 297 of the laws of 1985 authorizing the transfer of sponsorship of Corning community college from the city school district of the city of Corning to a community college region, and chapter 144 of the laws of 1996 amending the education law relating to the establishment of a community college region to sponsor Jamestown community college and authorizing the transfer of sponsorship of Jamestown community college from the city of Jamestown to a community college region, in relation to capital financings of community college regions
Purpose
The purpose of this legislation is to permit community college regions to finance capital improvements through the facilities of the Dormitory Authority of the State of New York.
Summary of provisions
Section 1: Short title.
Read the full memo (629 words)
Section 2: Paragraph c of subdivision 1 of section 6304 of the education law is amended by adding a new undesignated paragraph.
Section 3: Subdivision 8 of section 6304 of the education law is amended by adding a new paragraph c.
Section 4: Subdivision 10 of section 6304 of the education law is amended by adding a new paragraph c.
Section 5: Section 6310 of the education law is amended by adding a new subdivision 17.
Section 6: The undesignated paragraph of subdivision 1 of section 1680 of the public authorities law is amended.
Section 7: The opening paragraph of subdivision 15 of section 1680 of the public authorities law is amended.
Section 8: Section 4 of the chapter 297 of the laws of 1985 authorizing the transfer of sponsorship of Coming community college from the city school district of the city of Coming to a community college region, is amended by adding a new undesignated paragraph.
Section 9: Section 6 of Chapter 144 of laws of 1996 is amended by adding a new undesignated paragraph.
Section 10: Section 6310 of the education law is amended by adding a new subdivision 10-a.
Section 11: Effective Date.
Justification
Each Community College in the State has the authority to have capital improvements financed either directly by the issuance of debt by its sponsoring municipality or by the sponsor entering into a financing agreement with the Dormitory Authority of the State of New York. Except for those community college which are sponsored by more than one municipality, it is a single sponsoring municipality that must take the necessary steps to arrange for a capital financing. Regional community colleges, governed by a regional board of trustees, have clear authority for financing of their capital projects by their sponsoring municipalities through the issuance of the debt of multiple parties-either proportionately by each of the sponsors or on a joint or several basis. A community college region itself (as compared to its multiple sponsors) presently does not have clear authority to effectuate a financing with the Dormitory Authority of the State of New York.
Although Section 1680(1) of the public authorities law list a "local Sponsor" eligible of a community college as an "educational institution" for Dormitory Authority financing, Section 6301(3) of the education law reference therein defines "local sponsor" in an ambiguous manner, leaving unclear whether only the sponsors of a region jointly or the region itself acting through its board of trustees are a party which may enter into financing arrangements with the Dormitory Authority. The multiple sponsors mature of a community college region make it much more difficult for a community college region to do capital financings in order to upgrade facilities. This complication has put community college regions at an unintended disadvantage vis-a-vis all other community colleges in the state.
Legislative history
New Bill.
Fiscal implications
None.
Local fiscal implications
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.