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Sponsors
Senator · Senate District 45
No co-sponsors yet.
History
- Referred to local governments
- Delivered to assembly
- Passed senateVote 57–1
- Advanced to third reading
- 2nd report cal.
- Amended 7584a
- 1st report cal.1173
- 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.
Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing
In Assembly Committee · Local Governments · Sponsor John T. McDonald III
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7584A
Title of bill
An act to amend the local finance law, in relation to the period of probable usefulness of boiler systems
Purpose
Provides that the period of probable usefulness of the installation or reconstruction of a boiler system is 15 years for purposes of local financing.
Summary of provisions
Section 1 amends subdivision 13 of paragraph (a) of section 11.00 of the local finance law to specify that the period of probable usefulness of the installation or reconstruction of a boiler system in a building is fifteen years.
Section 2 contains the effective date.
Existing law
Section 11.00 of the local finance law provides for a ten year period for a heating, lighting, plumbing, ventilating elevator or power plant or system for class "A" or "B" building and five years for a class "C" building.
Justification
Municipalities across the state are looking to undertake new biomass heating projects in their buildings but are limited to a ten year bond due to their expected useful life under current law. However, the useful life of heating systems under the local finance law does not accurately reflect the actual useful life of these systems. According to a publi- cation of the New York State Division of Housing and Community Renewal, the useful life for boilers is between twenty-five to thirty-five years, depending on the type of material used for the boiler. The useful life of a furnace is approximately fifteen years and because the local finance law does not differentiate between furnace and boiler heating systems, local governments cannot bond for a period longer than ten years for a new or replacement boiler. This bill aims to correct the actual useful life of these systems.
Legislative history
New Bill
Fiscal implications
None to the state
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.