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A10218Assembly2019-2020 Session

End Westchester Bond Powers

Official title

“Repeals provisions of law relating to the issuance of bonds by the county of Westchester”

Sponsor Sandy GalefAD-95Affects Local Government
Status
In Assembly Committee
Local Governments
Impact
3/10
Low
Passage
0%

Bill progress

Step 2 of 7

In committee · Local Governments

What's happening

This bill repeals a provision of the local finance law concerning the issuance of bonds in Westchester County.

Why it matters

  1. Could impact how Westchester County manages its debt. By repealing this provision, the county may lose or change a unique authority or flexibility it previously had for issuing bonds, which could affect its ability to finance public projects.

  2. Might alter taxpayer costs or project timelines. If the repeal leads to stricter or different rules for borrowing, it might slow down or make more expensive the funding for things like schools, infrastructure, or other public services, potentially affecting residents directly.

  3. Signals changes in state oversight or policy toward local finance. This action could reflect a shift in how the state wants to regulate or standardize local government borrowing, possibly in response to concerns about fiscal responsibility or transparency.

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Who cares

  • Westchester County finance officials

    The bill would repeal a Local Finance Law provision relating to the county’s issuance of bonds.

  • Municipal bond attorneys advising Westchester County

    They would need to account for the repeal, which would take effect immediately.

  • Investors in Westchester County bonds

    They would have an interest in the removal of a statutory provision governing the county’s bond issuance, though the bill does not reproduce that provision.

Headline styles

End Westchester Bond Powers

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Sandy Galef

Assembly Member · Assembly District 95

No co-sponsors yet.

History

  1. Referred to local governments

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

10218

IN ASSEMBLY

March 24, 2020

Introduced by M. of A. GALEF -- read once and referred to the Committee on Local Governments

AN ACT to repeal subdivision 1 of paragraph b of section 33.10 of the local finance law, relating to the issuance of bonds in the county of Westchester

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subdivision 1 of paragraph b of section 33.10 of the local finance law is REPEALED.

§ 2. This act shall take effect immediately.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD15889-01-0

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.