STATE OF NEW YORK ________________________________________________________________________ S. 2002--A A. 3002--A SENATE - ASSEMBLY January 17, 2017 ___________ IN SENATE -- A BUDGET BILL, submitted by the Governor pursuant to arti- cle seven of the Constitution -- read twice and ordered printed, and when printed to be committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee IN ASSEMBLY -- A BUDGET BILL, submitted pursuant to article seven of the Constitution -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT making appropriations for the legal requirements of the state debt service and lease purchase payments and other special contractual obligations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The several sums specified in this section, or so much 2 thereof as may be sufficient to accomplish in full the purposes desig- 3 nated by the appropriations, are hereby appropriated to be paid as here- 4 in provided for the funds and purposes specified and are made available 5 for the fiscal year beginning April 1, 2017. 6 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND 7 Maintenance undistributed 8 For the legal requirements of principal, interest, and 9 related expenses on general obligation bonds, special 10 contractual and revenue bond obligations, as issued 11 pursuant to articles 5-C and 5-F of the state finance 12 law and payments for interest rate exchange and similar 13 agreements, in accordance with the following schedule .. 6,536,700,000 14 ============== EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD12552-02-7

S. 2002--A 2 A. 3002--A 1 SCHEDULE 2 GENERAL OBLIGATION PAYMENTS 3 The sum of $477,500,000, or so much thereof as may be 4 necessary, is hereby appropriated for payment by the 5 state comptroller for general obligation bonds issued in 6 connection with pure waters, environmental quality, 7 transportation capital facilities, rail preservation, 8 outdoor recreation development, energy conservation 9 through improved transportation, parks and recreation 10 land acquisition, rebuild New York through transporta- 11 tion infrastructure renewal, accelerated capacity and 12 transportation improvements of the nineties, clean 13 water/clean air, rebuild and renew New York transporta- 14 tion, and smart schools purposes, in accordance with the 15 following sub-schedule ................................... 477,500,000 16 -------------- 17 sub-schedule 18 Debt service payments ...................................... 475,000,000 19 Related expenses ............................................. 2,500,000 20 -------------- 21 Total of sub-schedule ...................................... 477,500,000 22 ============== 23 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 24 The several sums, or so much thereof as may be sufficient 25 to accomplish in full the purposes designated by the 26 appropriations, are hereby appropriated and are, subject 27 to the issuance of certificates of approval of avail- 28 ability by the director of the budget, available for the 29 purpose of making payments for special contractual obli- 30 gations, in accordance with the following schedule ..... 1,078,200,000 31 -------------- 32 SCHEDULE 33 For payment to the Urban Development Corpo- 34 ration pursuant to the provisions of an 35 agreement or agreements of lease and 36 sublease entered into between, but not 37 limited to, the Urban Development Corpo- 38 ration, the Office of General Services and 39 the Department of Correctional Services 40 for the rental of correctional facilities ... 21,000,000 41 For payment according to the following sub- 42 schedule to the Urban Development Corpo- 43 ration for project revenue bonds, pursuant 44 to the provisions of certain agreements of 45 lease between the entities designated on 46 the following sub-schedule and the state 47 of New York and the assignment of rent 48 thereof to the Urban Development Corpo- 49 ration ....................................... 8,500,000

S. 2002--A 3 A. 3002--A 1 sub-schedule 2 Cornell University (Supercom- 3 puter Center) .................... 700,000 4 Columbia University (Telecom- 5 munications Center) ............ 4,800,000 6 Clarkson University .............. 1,100,000 7 University Grants 95 Refunding ... 1,900,000 8 -------------- 9 Total of sub-schedule .......... 8,500,000 10 -------------- 11 For payment to the Housing Finance Agency 12 and the Urban Development Corporation for 13 payment of bonds issued to finance the 14 State's housing programs .................... 45,000,000 15 For payment to the Metropolitan Transporta- 16 tion Authority, pursuant to state service 17 contracts authorized by section 16 of 18 chapter 314 of the laws of 1981, section 19 42 of chapter 929 of the laws of 1986, as 20 amended by chapter 13 of the laws of 1987, 21 and section 34 of part O of chapter 61 of 22 the laws of 2000 ............................ 80,000,000 23 For payment to the State University 24 Construction Fund, for payment to the 25 Dormitory Authority, pursuant to paragraph 26 (e) of subdivision 19 of section 1680 of 27 the public authorities law, to pay for 28 bonds or notes issued by such authority, 29 pursuant to agreements between the State 30 University Construction Fund, State 31 University of New York and the Dormitory 32 Authority, relating to State University 33 education facilities. Notwithstanding the 34 provisions of section 40 of the state 35 finance law or any other provision of law 36 to the contrary, this appropriation shall 37 remain in full force and effect until 38 April 30, 2018 ............................. 210,000,000 39 For payment to the State University 40 Construction Fund, for payment to the 41 Dormitory Authority, in accordance with 42 subdivision 8 of section 6304 of the 43 education law, for bonds, notes, or other 44 obligations issued by such authority, 45 pursuant to an agreement or agreements 46 among the State University of New York, 47 various community colleges and their spon- 48 sors, and the Dormitory Authority for 49 educational facilities of community 50 colleges ..................................... 6,000,000 51 For payment to the City University Construc- 52 tion Fund for City University senior 53 colleges and for community colleges. 54 Moneys hereby appropriated, or portions

S. 2002--A 4 A. 3002--A 1 thereof, are for payments net of all 2 interest and investment earnings on senior 3 and community college payments and other 4 excess earnings held by the City Universi- 5 ty Construction Fund, in accordance with 6 the following sub-schedule ................. 165,000,000 7 sub-schedule 8 City University senior 9 colleges ..................... 150,000,000 10 City University community 11 colleges ...................... 15,000,000 12 -------------- 13 Total of sub-schedule ........ 165,000,000 14 -------------- 15 For payment to the Thruway Authority, pursu- 16 ant to section 380 of the public authori- 17 ties law, to pay for Local Highway and 18 Bridge Service Contract bonds or notes 19 issued by such authority pursuant to an 20 agreement between the Thruway Authority 21 and the state .............................. 110,000,000 22 For payment to the Environmental Facilities 23 Corporation, pursuant to subdivision 1 of 24 section 1290 of the public authorities 25 law, to pay for bonds or notes issued by 26 such authority pursuant to a lease agree- 27 ment between the Environmental Facilities 28 Corporation and the Office of Parks, 29 Recreation and Historic Preservation 30 relating to the financing of Riverbank 31 State Park ................................... 5,200,000 32 For payment according to the following sub- 33 schedule for bonds issued to finance 34 consolidated service contract refundings ... 405,000,000 35 -------------- 36 sub-schedule 37 Urban Development Corporation .. 300,000,000 38 Dormitory Authority ............. 95,000,000 39 Thruway Authority ............... 10,000,000 40 -------------- 41 Total of sub-schedule ........ 405,000,000 42 -------------- 43 Total of debt service schedule ............. 1,055,700,000 44 -------------- 45 For payment of related expenses in accord- 46 ance with the following schedule.

S. 2002--A 5 A. 3002--A 1 SCHEDULE 2 Urban Development Corporation .................. 3,500,000 3 Housing Finance Agency ......................... 1,500,000 4 Dormitory Authority ............................ 7,500,000 5 Dormitory Authority Capital Expenses ........... 9,500,000 6 Environmental Facilities Corporation ............. 200,000 7 Thruway Authority ................................ 300,000 8 -------------- 9 Total of related expenses schedule ............ 22,500,000 10 -------------- 11 Total of schedules ......................... 1,078,200,000 12 ============== 13 REVENUE BOND FINANCING AGREEMENT PAYMENTS 14 The several sums, or so much thereof as may 15 be necessary, are hereby appropriated for 16 payment to the dormitory authority, the 17 environmental facilities corporation, the 18 housing finance agency, the thruway 19 authority, and the urban development 20 corporation and are, subject to the issu- 21 ance of certificates of approval of avail- 22 ability by the director of the budget, 23 available for the purpose of making 24 financing agreement payments related to 25 personal income tax revenue bond obli- 26 gations, as authorized pursuant to article 27 5-C of the state finance law and in 28 accordance with the following schedule ... 4,228,000,000 29 -------------- 30 SCHEDULE 31 Debt Service Payment ....................... 4,200,000,000 32 Related Expenses .............................. 28,000,000 33 -------------- 34 Total of schedule .......................... 4,228,000,000 35 ============== 36 REVENUE BOND FINANCING AGREEMENT PAYMENTS 37 The several sums, or so much thereof as may 38 be necessary, are hereby appropriated for 39 payment to the dormitory authority, the 40 thruway authority, and the urban develop- 41 ment corporation and are, subject to the 42 issuance of certificates of approval of 43 availability by the director of the bud- 44 get, available for the purpose of making 45 financing agreement payments related to 46 sales tax revenue bond obligations, as 47 authorized pursuant to article 5-F of the 48 state finance law and in accordance with 49 the following schedule ..................... 753,000,000 50 --------------

S. 2002--A 6 A. 3002--A 1 SCHEDULE 2 Debt Service Payments ........................ 750,000,000 3 Related Expenses ............................... 3,000,000 4 -------------- 5 Total of schedule ............................ 753,000,000 6 ============== 7 Total of schedule ........................................ 6,536,700,000 8 ============== 9 DEBT SERVICE FUND--HOUSING DEBT FUND 10 GENERAL OBLIGATION PAYMENTS 11 The sum of $6,500,000, or so much thereof as may be neces- 12 sary, is hereby appropriated for payment by the state 13 comptroller of principal and interest on general obli- 14 gation bonds issued in connection with state housing 15 (low cost, middle income and urban renewal) ................ 6,500,000 16 ============== 17 DEBT SERVICE FUND--HEALTH INCOME FUND 18 For debt service and related expenses in accordance with 19 the following schedule .................................... 33,000,000 20 -------------- 21 SCHEDULE 22 The sum of $27,000,000, or so much thereof as may be 23 necessary of operating revenues received from department 24 of health facilities other than the New York City Veter- 25 ans' Home, is hereby appropriated for payment by the 26 state comptroller of all obligations under the terms of 27 agreements between the health department and the dormi- 28 tory authority ............................................ 27,000,000 29 The sum of $2,000,000, or so much thereof as may be neces- 30 sary of operating revenues received from the New York 31 City Veterans' Home, is hereby appropriated for payment 32 by the state comptroller of all obligations under the 33 terms of agreements between the health department and 34 the dormitory authority .................................... 2,000,000 35 Related expenses ............................................. 1,000,000 36 Capital expenses ............................................. 3,000,000 37 -------------- 38 Total of schedule ......................................... 33,000,000 39 ============== 40 DEBT SERVICE FUND--MENTAL HEALTH SERVICES FUND 41 The sum of $197,000,000, or so much thereof as may be 42 necessary, is hereby appropriated for payment by the 43 state comptroller of all obligations of the dormitory 44 authority, as successor to the facilities development 45 corporation and the medical care facilities finance

S. 2002--A 7 A. 3002--A 1 agency pursuant to chapter 83 of the laws of 1995, under 2 the terms of any lease, sublease, or other financing 3 agreement with the department of mental hygiene, in 4 accordance with the following schedule ................... 197,000,000 5 -------------- 6 SCHEDULE 7 Debt service payments ...................................... 190,000,000 8 Related expenses ............................................. 7,000,000 9 -------------- 10 Total of schedule .......................................... 197,000,000 11 ============== 12 DEBT SERVICE FUND--LOCAL GOVERNMENT ASSISTANCE TAX FUND 13 The sum of $304,500,000, or so much thereof as may be 14 necessary, is hereby appropriated for payment of all 15 obligations, including but not limited to reserve fund 16 credit facilities, to the local government assistance 17 corporation pursuant to a certificate or certificates 18 filed by the chairman of the corporation with the state 19 comptroller and the governor, pursuant to subdivision 1 20 of section 3240 of the public authorities law, in 21 accordance with the following schedule ................... 304,500,000 22 -------------- 23 SCHEDULE 24 Debt service payments ...................................... 300,000,000 25 Related expenses ............................................. 4,500,000 26 -------------- 27 Total of schedule .......................................... 304,500,000 28 ============== 29 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES 30 FINANCING RESERVE FUND 31 The sum of $20,600,000, or so much thereof as may be 32 necessary, is hereby appropriated for payment by the 33 state comptroller to the dormitory authority for the 34 purpose of meeting the terms of any contractual agree- 35 ments between the dormitory authority and participating 36 special act school districts listed in chapter 566 of 37 the laws of 1967, as amended, state-supported schools 38 for blind and deaf students and children with other 39 handicapping conditions pursuant to article 85 of the 40 education law, and private not-for-profit schools 41 approved by the commissioner of education pursuant to 42 article 89 of the education law, in accordance with the 43 following schedule ........................................ 20,600,000 44 -------------- 45 SCHEDULE 46 Debt service payments ....................................... 20,000,000

S. 2002--A 8 A. 3002--A 1 Related expenses ............................................... 300,000 2 Capital expenses ............................................... 300,000 3 -------------- 4 Total of schedule ........................................... 20,600,000 5 ============== 6 DEDICATED HIGHWAY AND BRIDGE TRUST FUND--SPECIAL 7 OBLIGATION RESERVE AND PAYMENT ACCOUNT 8 The sum of $320,300,000 or so much thereof as may be 9 necessary, is hereby appropriated to pay for bonds or 10 notes as required under dedicated highway and bridge 11 trust fund cooperative agreements under section 10-e of 12 the highway law, in accordance with the following sched- 13 ule ...................................................... 320,300,000 14 -------------- 15 SCHEDULE 16 Debt service payments ...................................... 320,000,000 17 Related expenses ............................................... 300,000 18 -------------- 19 Total of schedule .......................................... 320,300,000 20 ============== 21 DEBT REDUCTION RESERVE FUND 22 The sum of $500,000,000, or so much thereof as may be 23 necessary, is hereby appropriated from the debt 24 reduction reserve fund for the purposes of principal, 25 interest, and related expenses, for retiring or defeas- 26 ing bonds previously issued, including any accrued 27 interest or other expenses related thereto, for any 28 state-related bonding program or programs and for trans- 29 fer, upon request of the director of the budget, to 30 various capital projects funds as designated by the 31 director of the budget for the funding of capital 32 projects, equipment acquisitions, or similar expenses 33 which have been authorized by law to be financed through 34 the issuance of bonds, notes, or other obligations ....... 500,000,000 35 ============== 36 CONTINGENT AND OTHER APPROPRIATIONS 37 § 2. The several sums specified in this section, or so much thereof as 38 may be sufficient to accomplish in full the purposes designated by the 39 appropriations, are hereby appropriated to be paid as herein provided 40 for the funds and purposes specified and are made available for the 41 fiscal year beginning April 1, 2017. 42 GENERAL FUND--STATE PURPOSES ACCOUNT 43 The sum of $20,000,000, or so much thereof as may be 44 necessary, is hereby appropriated from the general fund 45 to the credit of the state purposes account solely for 46 the purpose of making payments of rebates to the federal

S. 2002--A 9 A. 3002--A 1 government to maintain the exemption from federal income 2 taxation of the interest paid to the holders of state 3 obligations issued pursuant to sections 55 and 57 of the 4 state finance law ......................................... 20,000,000 5 ============== 6 The sum of $225,000,000, or so much thereof as may be 7 necessary, is hereby appropriated from the general fund 8 to the credit of the state purposes account solely for 9 the purpose of redeeming general obligation bonds issued 10 by the state of New York, provided, however, that the 11 amount to be expended from this appropriation shall be 12 limited to the amount, as determined by the comptroller, 13 to be necessary to maintain the exemption from federal 14 taxation of the interest paid to the holders of state 15 obligations issued pursuant to sections 55 and 57 of the 16 state finance law ........................................ 225,000,000 17 ============== 18 ALL FUNDS 19 For payment of principal and interest, including but not 20 limited to reserve fund credit facilities on variable 21 rate obligations and interest rate exchange and similar 22 agreements, for state-supported debt or for transfer to 23 any other appropriation, in accordance with the follow- 24 ing schedule ........................................... 1,400,000,000 25 -------------- 26 SCHEDULE 27 Debt service payments ...................................... 900,000,000 28 Related expenses ............................................ 50,000,000 29 Interest rate exchange and similar agreements .............. 450,000,000 30 -------------- 31 Total of schedule ........................................ 1,400,000,000 32 ============== 33 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND 34 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS 35 For payment to the dormitory authority, as successor to 36 the medical care facilities finance agency pursuant to 37 chapter 83 of the laws of 1995, for payment of principal 38 interest, and related expenses on bonds or notes issued 39 pursuant to the provisions of section 7-a of the New 40 York state medical care facilities finance agency act, 41 as amended, which provide that the service contract 42 payments will be made to meet the debt service payments 43 due if the funds and accounts established under the bond 44 resolution, the secured hospital debt service reserve 45 fund, and the secured hospital capital reserve fund are 46 inadequate, in accordance with the following schedule ..... 46,000,000 47 --------------

S. 2002--A 10 A. 3002--A 1 SCHEDULE 2 Debt service payments ....................................... 45,000,000 3 Related expenses ............................................. 1,000,000 4 -------------- 5 Total of schedule ........................................... 46,000,000 6 ============== 7 For payment to the tobacco settlement financing corpo- 8 ration, for payment of bonds or notes issued pursuant to 9 the provisions of part D3 of chapter 62 of the laws of 10 2003 which provides that contingency contract payments 11 will be made to meet the debt service payments due if 12 the funds and accounts established under the bond inden- 13 tures, the debt service accounts, the debt service 14 reserve accounts and the supplemental accounts are inad- 15 equate, in accordance with the following schedule ........ 226,000,000 16 -------------- 17 SCHEDULE 18 Debt service payments ...................................... 225,000,000 19 Related expenses ............................................. 1,000,000 20 -------------- 21 Total of schedule .......................................... 226,000,000 22 ==============

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