What's happening
This bill extends the powers of NYSARC, Inc. under the public authorities law from expiring in 2018 to 2023.
Why it matters
Extending NYSARC, Inc.’s powers until 2023 ensures continued access to specialized financing tools and support for projects benefiting individuals with intellectual and developmental disabilities, which might otherwise be disrupted if these powers lapsed.
The extension allows the Dormitory Authority to keep entering into contracts supporting NYSARC, Inc. projects, treating them as state contracts—this triggers state requirements for minority- and women-owned business participation, potentially broadening economic opportunity and oversight.
By preventing a lapse in legal authority, the bill provides stability for ongoing and future capital projects (like residential or program facilities), supporting both service continuity for vulnerable populations and the organizations that serve them.
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Who cares
Headline styles
Extend NYSARC Bond Authority
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 62
No co-sponsors yet.
History
- Signed chap.444
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.59
- Substituted for A10332
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 62–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1015
Show 1 earlier action
- Referred to corporations, authorities and commissions
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.
Extend NYSARC Bond Authority
Assembly Floor Calendar · Sponsor Aileen Gunther
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
8074
IN SENATE
March 26, 2018
Introduced by Sen. ORTT -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions
AN ACT to amend chapter 373 of the laws of 1998, amending the public authorities law relating to the powers of NYSARC, Inc., in relation to extending the provisions of such chapter
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 5 of chapter 373 of the laws of 1998, amending the public authorities law relating to the powers of NYSARC, Inc., as amended by chapter 26 of the laws of 2013, is amended to read as follows:
§ 5. This act shall take effect immediately and shall expire and be deemed repealed on December 31, [2018] 2023.
§ 2. Any contracts entered into by the dormitory authority pursuant to this act shall be deemed state contracts within the meaning of that term as set forth in article 15-A of the executive law, and the authority shall be deemed, for the purposes of this act, a contracting agency as that term is used in such article.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15241-01-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend chapter 373 of the laws of 1998, amending the public authorities law relating to the powers of NYSARC, Inc., in relation to extending the provisions of such chapter
Purpose or general idea of bill
This bill would extend for an additional five years the authority of NYSARC, Inc., formerly the New York State Association for Retarded Chil- dren, Inc., to avail itself of Dormitory Authority construction manage- ment and financial services. NYSARC's current authority expires on December 31, 2018 and this would extend it until December 31, 2023.
Summary of specific provisions
This bill would amend section 5 of chapter 373 of the laws of 1998 to change the effective date so that NYSARC continues to have authority to avail itself of Dormitory Authority construction and management finan- cial services for another five years.
Justification
NYSARC is a private, not-for-profit organization dedicated to ensuring that persons with developmental disabilities become active and contrib- uting members of their communities. Since NYSARC's authority to utilize Dormitory Authority construction and management services was estab- lished, NYSARC has bonded over $156,365,000 involving 343 projects and 367 loans through the state, saving over $32 million in public funds. Expiration of NYSARC's authority would undermine very substantial bond initiatives now underway, resulting in lost savings to the state and lost funding to reinvest in critical services to persons with develop- mental disabilities. Future bond issues contingent on this legislation are expected to continue to benefit both New York taxpayers and the individuals and families NYSARC services.
Prior legislative history
New Bill
Fiscal implications
By continuing to fund projects through tax exempt financing New York State will save funds it would otherwise reimburse NYSARC, Inc. chap- ters.
Effective date
This act shall take effect immediately and shall expire and be deemed repealed on December 31, 2023.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.