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Sponsors
Senator · Senate District 7
No co-sponsors yet.
History
- Substituted by A7099
- Advanced to third reading
- 2nd report cal.
- 1st report cal.757
- Referred to local government
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.
Extends provisions of chapter 791 of 1980 relating to period of probable usefulness of certain judgments, compromised claims or settled claims
Signed by Governor · Sponsor William Magnarelli
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4972
Title of bill
An act to amend chapter 719 of the laws of 1980 amending the local finance law relating to the period of probable usefulness of certain judgments, compromised claims or settled claims, in relation to extending the provisions of such chapter
Purpose
The bill extends authority from June 15, 2013 to June 15, 2018, for municipalities to finance judgments related to certain tax proceedings including certiorari and small claims assessment review.
Summary of provisions
Section 1 amends chanter 719 of the laws of 1980 and chapter 122 of the laws of 2018 to extend provisions of subdivision 33-a of section 11.00 o the local finance law for an additional five years.
Section 2 sets an immediate effect date.
Justification
Allowing municipalities to spread the cost of certain judgments over several years will result in the judgments having a less impact of the current fiscal year's budget. This authorization should be extended for an additional five years, thereby continuing flexibility provided to municipalities to Pay certain judgments, and providing the legislature an opportunity to review the law.
Legislative history
This is a new bill.
Fiscal implications
None to the State.
Effective date
This act will take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.