What's happening
This bill authorizes New York State to issue $5 billion in bonds for water quality and land preservation projects, pending voter approval.
Why it matters
Targets pressing water quality issues. By dedicating $4 billion specifically to water quality improvement projects, this act aims to address infrastructure needs that directly affect public health, drinking water safety, and environmental sustainability across New York State.
Supports land and historic preservation. The allocation of $1 billion for open space, farmland, park, recreation, and historic preservation projects promotes conservation, helps maintain agricultural landscapes, protects historic resources, and expands recreational opportunities.
Broad eligibility for funding. The bill allows not just state agencies, but also local governments, public authorities, and not-for-profit organizations to access funds, increasing the reach and potential impact across diverse communities and project types.
Direct voter participation. By requiring approval through a statewide referendum, the measure gives New Yorkers a direct voice in deciding whether to take on significant state debt for environmental and community benefits, which could influence future state investment priorities.
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
Municipalities and public authorities
The bill would allocate $4 billion in bond proceeds for water quality improvement projects, with funding subject to appropriations.
Conservation, farmland and historic preservation nonprofits
The bill would allocate $1 billion for open space, farmland, park and recreation, and historic preservation projects, including acquisition of interests in land.
State comptroller
The bill would authorize the comptroller to issue and sell up to $5 billion in state bonds to finance community preservation projects.
New York voters
The bill would submit the proposed $5 billion state debt authorization to voters at the November 2018 general election, requiring majority approval before it could take effect.
Headline styles
Fund Community Preservation Projects
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Print number 4018a
- Amend (t) and recommit to finance
- Referred to finance
- Referred to finance
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.
Fund Community Preservation Projects
In Assembly Committee · Ways And Means · Sponsor Fred Thiele
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4018--A
2017-2018 Regular Sessions
IN SENATE
February 1, 2017
Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Finance -- recommitted to the Committee on Finance in accordance with Senate Rule 6, sec. 8 -committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT authorizing the creation of state debt to the amount of five billion dollars; in relation to creating the community preservation bond act of 2018, to provide moneys for the water quality infrastructure improvements and to provide for state assistance payments for such purpose, and to provide moneys for the acquisition of interests in land for open space preservation, farmland preservation, historic preservation, and parks and recreation purposes; and providing for the submission to the people of a proposition or question therefor to be voted upon at the general election in November 2018
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Short title. This act shall be known and may be cited as the "community preservation bond act of 2018".
§ 2. Creation of state debt. a. The creation of a state debt to an amount not exceeding in the aggregate five billion dollars ($5,000,000,000) is hereby authorized to provide moneys for the single purpose of preserving the quality of life in the state's communities and neighborhoods by the accomplishment of projects and funding of activities by state agencies, public authorities and public benefit corporations, municipalities, and other public authorities and public benefit corporations, municipalities, and other government entities and not-forprofit corporations for and related to community preservation including water quality infrastructure improvements and the acquisition of interests in land for open space preservation, farmland preservation, historic preservation, and park and recreation purposes.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06760-02-8
S. 4018--A 2
b. The legislature may, by appropriate legislation and subject to such conditions as it may impose, make available out of the proceeds of the sale of bonds authorized in this section, moneys disbursed or to be disbursed for state programs or state assistance payments toward the cost of such programs undertaken by or through a state or local public authority or public benefit corporation, not-for-profit corporation, county, city, town, village, school district, supervisory district, district corporation, improvement district within a county, city, town, village, or Indian tribe residing in whole or in part within New York state, or any combination thereof, for the purpose of community preservation.
§ 3. Bonds of the state. The state comptroller is hereby authorized and empowered to issue and sell bonds of the state to the amount of five billion dollars ($5,000,000,000) for the purpose of this act, subject to the provisions of article 5 of the state finance law. The aggregate principal amount of such bonds shall not exceed five billion dollars excluding bonds issued to refund or otherwise repay bonds theretofore issued for such purpose; provided however, that upon any such refunding or repayment the total aggregate principal amount of outstanding bonds may be greater than five billion dollars only if the present value of the aggregate debt service of the refunding or repayment bonds to be issued shall not exceed the present amount of the aggregate debt service of the bonds to be refunded or repaid. The method for calculating present value shall be determined by law.
§ 4. Use of moneys received. The moneys received by the state from the sale of bonds sold pursuant to this act shall be expended pursuant to appropriations in the following amount:
a. For water quality improvement projects, four billions dollars.
b. For open space, farmland, park and recreation, and historic preservation projects, one billion dollars.
§ 5. This act shall take effect immediately, provided that the provisions of section two of this act shall not take effect unless and until this act shall have been submitted to the people at the general election to be held in November 2018, and shall have been approved by a majority of all votes cast for and against it at such election. Upon approval by the people, section two of this act shall take effect immediately. The ballots to be furnished for the use of voters upon submission of this act shall be in the form prescribed by the election law and the proposition or question to be submitted shall be printed thereon in substantially the following form, namely "Shall chapter (insert number of chapter) of the laws of 2018 known as the community preservation bond act of 2018, authorizing the creation of state debt to provide moneys for the preservation of communities through the construction of water quality improvement projects and acquisition of interests in land for open space preservation, farmland preservation, historic preservation, and park and recreation purposes in the amount of five billion dollars ($5,000,000,000) be approved?"
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act authorizing the creation of state debt to the amount of five billion dollars; in relation to creating the community preservation bond act of 2018, to provide moneys for the water quality infrastructure improvements and to provide for state assistance payments for such purpose, and to provide moneys for the acquisition of interests in land for open space preservation, farmland preservation, historic preservation, and parks and recreation purposes; and providing for the submission to the people of a proposition or question therefor to be voted upon at the general election in November 2018
Purpose
To make provisions for the "Community Preservation Bond Act of 2018".
Summary of provisions
Section 1. Cites this act as the "Community Preservation Bond Act of 2018".
Section 2. Creates a state debt in an amount not exceeding in the aggre- gate $5 billion.
Section 3. Grants power to the State Comptroller to issue and sell bonds of the State to the amount of $5 billion.
Section 4. Provides for the use of moneys received.
Section 5. Effective date and provides the voter proposition to appear on the ballot for the general election of 2018.
Justification
Since 1960, New York State voters have approved seven bond acts which have authorized the issuance of nearly $5.7 billion in bonds that have financed a variety of environmental projects including: air quality; safe drinking water; clean water; solid waste and environmental restora- tion. The last bond act, the Clean Water/Clean Air Bond Act of 1996, was approved over 20 years ago. In those twenty years, the quality of ground and surface waters continue to decline and New York's vast open spaces remain vulnerable. Despite an increased environmental Protection Fund in 2016, there has been insufficient funding allocated to our State's natural resources for decades and we are now suffering the consequences. For example, it has been documented that New York State has $36 billion in clean water infrastructure. The importance of protecting and restor- ing our environment goes well beyond protecting the intrinsic value and ecological value of our resources; public health/safety and our State's economy is dependent upon it.
Legislative history
New bill.
Fiscal implications
$5 billion to the State of New York
Effective date
This act shall take effect immediately, provided that the provisions of section one of this act shall not take effect unless and until this act shall have been submitted to the people at the general election to be held in November 2018, and shall have been approved by a majority of all votes cast for and against it at such election. Upon approval by the people, section one of this act shall take effect immediately. The ballots to be furnished for the use of voters upon submission of this act shall be in the form prescribed by the election law and the proposi- tion or question to be submitted shall be printed thereon in substan- tially the following form, namely "Shall chapter ( ) of the law of 2018 known as the community preservation fund bond act of 2018, authorizing the creation of state debt to provide moneys for the preservation of communities through the construction of water quality improvement projects and acquisition of interests in land for open space preserva- tion, farmland preservation, historic preservation and park and recre- ation purposes in the amount of five billion dollars ($5,000,000,000) be approved.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.