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
- Substituted by A5245
- Ordered to third reading cal.1933
- Committee discharged and committed to rules
- Referred to local government
- 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.
Issuance of bonds to finance airport improvements at the East Hampton Airport
Signed by Governor · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3690
Title of bill
An act to amend the local finance law, in relation to the issuance of bonds to finance airport improvements at the East Hampton Airport
Purpose
This legislation authorizes the issuance of bonds by the Town of East Hampton to finance airport improvements at the East Hampton Airport for a period not to exceed 30 years.
Summary of provisions
Paragraph a of Section 11.00 of the Local Finance Law is amended by adding a new subdivision 14-a relating to the issuance of bonds by the Town of East Hampton to finance airport improvements at the East Hampton Airport for a period not to exceed 30 years.
Justification
The Town of East Hampton owns and operates the East Hampton Airport, located in the Town of East Hampton, hamlet of Wainscott. The Town's grant assurances from the Federal Aviation Administration expired on December 31, 2014, and as such, the Town no longer. obtains FAA funding for the operation and maintenance of the airport. The Town will now assume all responsibility to finance airport capital projects.
Current local finance law defines the maximum amortization period for airport projects as 10 years. This legislation is necessary to allow the Town to bond out improvements over a longer period of time.
Legislative history
2015: New Legislation
Fiscal implications
None.
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.