What's happening
This bill authorizes the Dormitory Authority to finance construction and improvements for nonprofit members of the New York Library Association.
Why it matters
Expands access to financing for local libraries. By allowing nonprofit members of the New York Library Association, including association and public libraries, to access Dormitory Authority financing, the bill could help more libraries upgrade or expand their facilities, directly benefitting community resources.
Enables leveraging of public funding. Libraries can assign and pledge state or local public funds to secure financing for construction projects, making it easier for them to undertake capital improvements without needing upfront cash reserves.
Sets project funding limits and oversight. Each library project financed through this program is subject to a $5 million bond cap (except for refinancing), which aims to encourage responsible borrowing and broader distribution of funds among eligible libraries.
Promotes diversity and fairness in contracting. By classifying these projects as state contracts under Article 15-A of the Executive Law, the bill requires compliance with state policies on minority- and women-owned business participation, helping ensure equitable opportunities in library construction projects.
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Who cares
Headline styles
Fund New Library Buildings
Plain English, a few words. Used as the page title.
Sponsors
4 Co-sponsors
History
- Referred to libraries and education technology
- Referred to libraries and education technology
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1583
2019-2020 Regular Sessions
IN ASSEMBLY
January 15, 2019
Introduced by M. of A. ABINANTI, CAHILL, OTIS, FAHY, LUPARDO -- read once and referred to the Committee on Libraries and Education Technology
AN ACT to amend the public authorities law, in relation to the construction and financing of facilities by the dormitory authority for the New York Library Association; and providing for the repeal of such provisions upon expiration thereof
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (b) of subdivision 2 of section 1676 of the public authorities law is amended by adding a new undesignated paragraph to read as follows:
The non-profit members of the New York Library Association, Inc. for the acquisition, financing, construction, reconstruction, renovation, development, improvement, expansion and equipping of library facilities.
§ 2. Subdivision 1 of section 1680 of the public authorities law is amended by adding two new undesignated paragraphs to read as follows:
The non-profit members of the New York Library Association, Inc. for the acquisition, financing, refinancing, construction, reconstruction, renovation, development, improvement, expansion and equipping of library facilities in the state of New York. The principal amount of bonds issued by the dormitory authority for the costs of each project authorized hereunder shall not exceed five million dollars, except for bonds issued to refund or refinance bonds previously issued for such projects.
Notwithstanding any other provision of law, each of the non-profit members of the New York Library Association, Inc. subject to the provisions of this chapter, including association and public libraries as defined in section two hundred fifty-three of the education law, shall have full power and authority to assign and pledge to the dormitory authority, any and all public funds to be apportioned or otherwise made payable by the state, a political subdivision, as defined in
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04889-01-9
A. 1583 2
section one hundred of the general municipal law, or any library district in the state in an amount sufficient to make all payments required to be made pursuant to any lease, sublease or other agreement entered into between the non-profit member and the dormitory authority. All state and local officers are hereby authorized to pay all such funds so assigned and pledged to the dormitory authority or, upon direction of the dormitory authority, to any trustee of any dormitory authority bond or note issue, pursuant to a certificate filed with any such state or local officer by the dormitory authority pursuant to the provisions of this section.
§ 3. 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.
§ 4. The expiration and repeal of sections one, two and three of this act shall not affect or impair in any manner any bonds issued, or any loan made to any borrower, pursuant to the provisions of this act prior to the expiration of such sections.
§ 5. This act shall take effect immediately and shall expire and be deemed repealed December 31, 2024.
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.