What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Reported and committed to finance
- Referred to cities
- Referred to cities
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.
Relates to rental payments from the NYC water board
In Assembly Committee · Cities · Sponsor Mark Gjonaj
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S1453
Title of bill
An act to amend the administrative code of the city of New York, in relation to rental payments from the New York city water board
Purpose
To provide rebates to residential water and sewer accounts as well as paying off outstanding principal and interest on debt issued by the city of New York before 1985 for capital projects in the water and sewer system.
Summary of provisions
Section 1 amends the administrative code of New York city by adding new section 5-511 to require that the general fund of the City of New York provide to the local water fund an amount equal to the amount requested by the City of New York pursuant in the lease agreement between the City of New York and the New York City Water Board and requires that fifty percent of such a payment be used to provide rebates to residential water and sewer account and the other fifty percent be used to ameliorate outstanding debt issued by the City of New York before 1985 for capital projects pertaining to water and sewer systems, when such debt is paid of the full amount shall be used in the form of residential rebates.
Section 2 provides that this act shall take effect immediately.
Justification
Currently, there is outstanding debt issued by the city of New York prior to 1985 for capital projects in the water and sewer system that has not currently been paid off. Because of the accumulation of principal and interest from this outstanding debt, the general fund must pay to the New York City Water Board. Half the sum is to be used for residential water and sewer rebates and the other half to be used to pay down debt, when such debt is paid, the sum shall be used to provide tax rebates to residential water and sewer accounts.
Legislative history
2014: S.6632 - 3rd Reading Calendar
Fiscal implications
To be determined
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.