Legislative Bill Drafting Commission
12331-02-0
S. --------
SENATE
--------
IN SENATE--Introduced by Sen
--read twice and ordered printed,
and when printed to be committed
to the Committee on
-------- A.
ASSEMBLY
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IN ASSEMBLY--Introduced by M. of A.
--read once and referred to the
Committee on
*INSURLA*
(Enacts Article 7 implementing pro-
visions for the 2000-2001 general
government budget)
--------
Ins. GGB - Article 7
A BUDGET BILL submitted by the Gov-
ernor in accordance with Article VII
of the Constitution
AN ACT
to amend the insurance law, in
relation to the property/casualty
insurance security fund and to
repeal certain provisions of such
law relating thereto (A); to amend
the general business law, the real
property law and the executive law,
in relation to the fees charged for
certain license, registration and
commission applications and examina-
tions (B); to provide for the utili-
zation of utility assessment funds
2 12331-02-0
(C); and to amend the state finance
law, in relation to providing for
the administration of certain funds
and accounts related to the
2000-2001 budget; to amend the state
finance law, chapter 389 of the laws
of 1997, relating to the financing
of the correctional facilities
improvement fund and the youth
facility improvement fund, the New
York state medical care facilities
finance agency act, the facilities
development corporation act, the
mental hygiene law and the private
housing finance law, in relation to
provisions necessary to implement
the 2000-2001 budget and in relation
to the duties of the office of
general services and the division of
the budget; to amend the state
finance law, in relation to payments
and transfers; to amend the state
finance law, in relation to the
period for which appropriations are
made; to amend chapter 405 of the
laws of 1999, amending the real
property tax law and other laws
relating to improving the adminis-
tration of the school tax relief
(STAR) program, in relation to the
effectiveness of such chapter; to
amend the state finance law, in
relation to the clean water/clean
air fund and the debt reduction
reserve fund; to amend the public
authorities law, in relation to
interest rate exchange or similar
agreements; to repeal subdivision 10
of section 97-ttt of the state
finance law, relating to the federal
revenue maximization fund; to repeal
section 88-c of the state finance
law, relating to the Niagara Fron-
tier Transportation Authority light
rail rapid transit special assist-
ance fund; to repeal section 97-j of
the state finance law, relating to
the capacity, bridge and highway
improvements fund; to repeal section
2867 of the public health law,
relating to the nursing home devel-
opment fund; and providing for the
repeal of certain provisions upon
expiration thereof (D)
3 12331-02-0
The People of the State of New
York, represented in Senate and
Assembly, do enact as follows:
4 12331-02-0
1 Section 1. This act enacts into law major components of legislation
2 which are necessary to implement the state fiscal plan for the 2000-2001
3 state fiscal year. Each component is wholly contained within a Part
4 identified as Parts A through D. The effective date for each particular
5 provision contained within such Part is set forth in the last section of
6 such Part. Any provision in any section contained within a Part, includ-
7 ing the effective date of the Part, which makes reference to a section
8 "of this act", when used in connection with that particular component,
9 shall be deemed to mean and refer to the corresponding section of the
10 Part in which it is found. Section three of this act sets forth the
11 general effective date of this act.
12 PART A
13 Section 1. Paragraph 4 of subsection (b) of section 7403 of the insur-
14 ance law, as amended by chapter 134 of the laws of 1999, is amended to
15 read as follows:
16 (4) The court shall not order any advance to the rehabilitator without
17 his specific request or if the insurer's required capital or surplus is
18 impaired in an amount exceeding the greater of thirty million dollars or
19 fifteen percent of the insurer's net direct premium writings in the
20 previous calendar year. Total advances to an insurer shall not exceed
21 the greater of forty million dollars or twenty percent of such net
22 direct premium writings. No advance shall be made Õon or after July
23 first, two thousandå which would lower the amount of assets in the fund
24 below one hundred ninety-five million dollars.
25 § 2. Paragraph 6 of subsection (b) of section 7403 of the insurance
26 law is REPEALED.
5 12331-02-0
1 § 3. This act shall take effect April 1, 2000.
2 REPEAL NOTE.--Paragraph 6 of subsection (b) of section 7403 of the
3 insurance law, repealed by this act, sunsets the Super-
4 intendent of Insurance's authority to loan money from the
5 property casualty insurance security fund in order to
6 rehabilitate domestic insurers.
7 PART B
8 Section 1. Section 409 of the general business law, as added by chap-
9 ter 509 of the laws of 1992, subdivision 1 as amended by chapter 341 of
10 the laws of 1998 and subdivision 3 as amended by section 9 of part B of
11 chapter 411 of the laws of 1999, is amended to read as follows:
12 § 409. Fees. 1. The non-refundable fee for an application for a
13 license to engage in the practice of nail specialty, waxing, natural
14 hair styling, esthetics or cosmetology, shall be Õtwentyå thirty dollars
15 initially and for each renewal thereof the fee shall be Õtwentyå thirty
16 dollars; the fee for a temporary license and each renewal shall be Õtenå
17 twenty dollars.
18 2. The fee for an appearance enhancement business license shall be
19 Õthirtyå fifty dollars initially and Õthirtyå fifty dollars for each
20 renewal thereof.
21 3. The secretary shall receive a non-refundable examination fee of
22 Õfifteenå twenty-five dollars from each person who takes a written or
23 practical examination pursuant to this article. Fees collected pursuant
24 to this article shall be deposited to the credit of the business and
25 licensing services account established pursuant to the provisions of
26 section ninety-seven-y of the state finance law.
6 12331-02-0
1 4. The fee for issuing a duplicate license certificate, in substi-
2 tution for one lost, destroyed or mutilated shall be ten dollars.
3 5. ÕThe fee for changing a name on an appearance enhancement business
4 license shall be thirty dollars.
5 6. The fee for changing the address on a license shall be ten dollars.
6 7.å The fees herein set forth shall be those for licenses issued for
7 the license period of two years.
8 § 2. Section 440 of the general business law, as amended by chapter 61
9 of the laws of 1989, is amended to read as follows:
10 § 440. Fees. 1. The fee for a license to engage in the practice of
11 barbering shall be Õtwentyå thirty dollars and for each renewal thereof
12 the fee shall be Õtwentyå thirty dollars.
13 2. The fee for a license to conduct a barber shop shall be Õthirtyå
14 fifty dollars and for each renewal thereof the fee shall be Õthirtyå
15 fifty dollars.
16 3. The fee for taking a written or practical examination under this
17 article shall be Õfifteenå twenty-five dollars.
18 4. The fee for the registration or the renewal of the registration of
19 an apprentice shall be Õtenå twenty dollars.
20 5. The fee for issuing a duplicate license in substitution for one
21 lost, destroyed or mutilated shall be ten dollars.
22 6. ÕThe fee for changing a name on a license shall be thirty dollars.
23 7. The fee for changing the address on a license shall be ten dollars.
24 8.å The fees hereinabove set forth shall be those for licenses issued
25 for the license period of two years. ÕNotwithstanding the provisions of
26 subdivision one of section four hundred thirty-nine of this article,
27 after January first, nineteen hundred eighty-six, the secretary of state
28 shall assign staggered expiration dates for outstanding licenses that
7 12331-02-0
1 have been previously renewed on June thirtieth of each year and such
2 licenses shall thereafter expire two years from the assigned date unless
3 renewed. If the assigned date results in a term that exceeds twenty-four
4 months, the applicant shall pay an additional prorated adjustment
5 together with the regular renewal fee. The secretary of state shall
6 assign dates to existing licenses in a manner which shall result in a
7 term of not less than two years.å
8 § 3. Subdivisions 9, 10 and 11 of section 441-a of the real property
9 law, as added by chapter 61 of the laws of 1989, are amended to read as
10 follows:
11 9. ÕExcept for changes made on a renewal application, the fee for
12 changing an address on a license shall be ten dollars.
13 10.å Except for changes made on a renewal application, the fee for
14 changing a name or for changing the status of a real estate broker's
15 license shall be one hundred fifty dollars. ÕThe fee for changing a
16 salesperson's name shall be fifty dollars.
17 11å 10. If a real estate salesperson shall leave the service of a real
18 estate broker, the real estate broker shall file a termination of asso-
19 ciation notice on such form as the secretary may designate. ÕThe fee
20 for terminating the record of association shall be ten dollars.å The
21 salesperson's license may be endorsed to a new sponsoring broker upon
22 the establishment of a new record of association filed with the depart-
23 ment of state. ÕThe fee for filing a record of association shall be ten
24 dollars.å
25 § 4. Subdivisions 1 and 1-A of section 441-b of the real property law,
26 subdivision 1 as amended by chapter 324 of the laws of 1998 and subdivi-
27 sion 1-A as amended by section 12 of part B of chapter 411 of the laws
28 of 1999, are amended to read as follows:
8 12331-02-0
1 1. The fee for a license issued or reissued under the provisions of
2 this article entitling a person, co-partnership, limited liability
3 company or corporation to act as a real estate broker shall be Õone
4 hundred fiftyå two hundred dollars. The fee for a license issued or
5 reissued under the provisions of this article entitling a person to act
6 as a real estate salesman shall be Õfiftyå seventy-five dollars.
7 ÕNotwithstanding the provisions of subdivision seven of section four
8 hundred forty-one-a of this article, after January first, nineteen
9 hundred eighty-six, the secretary of state shall assign staggered expi-
10 ration dates for outstanding licenses that have been previously renewed
11 on October thirty-first of each year from the assigned date unless
12 renewed. If the assigned date results in a term that exceeds twenty-four
13 months, the applicant shall pay an additional prorated adjustment
14 together with the regular renewal fee. The secretary of state shall
15 assign dates to existing licenses in a manner which shall result in a
16 term of not less than two years.å
17 1-A. The fee for a person to take an examination offered by the secre-
18 tary of state pursuant to this article shall be Õfifteenå twenty.five
19 dollars. Fees collected by the department of state pursuant to this
20 article shall be deposited to the credit of the business and licensing
21 services account established pursuant to section ninety-seven-y of the
22 state finance law.
23 § 5. Subdivision 5 of section 69-o of the general business law, as
24 amended by chapter 575 of the laws of 1993, is amended to read as
25 follows:
26 5. There shall be an examination fee of Õfifteenå twenty-five dollars.
9 12331-02-0
1 § 6. Subdivision 2 of section 69-r of the general business law, as
2 amended by chapter 575 of the laws of 1993, is amended to read as
3 follows:
4 2. The fee for taking an examination under this article shall be
5 Õfifteenå twenty-five dollars; provided, however, that if the applicant
6 qualifies for a license as the result of such examination, the fee paid
7 for the privilege of taking such examination shall be included in the
8 license fee for the license issued to him thereon.
9 § 7. Paragraph (c) of subdivision 1 of section 74 of the general busi-
10 ness law, as amended by section 7 of part B of chapter 411 of the laws
11 of 1999, is amended to read as follows:
12 (c) The secretary of state shall receive a non-refundable examination
13 fee of Õfifteenå twenty-five dollars from each person who takes an exam-
14 ination to qualify for application for licensure pursuant to this arti-
15 cle. Fees paid to the department of state pursuant to this article shall
16 be deposited in the business and licensing services account established
17 pursuant to section ninety-seven-y of the state finance law.
18 § 8. Subdivision 1 of section 89-m of the general business law, as
19 added by chapter 336 of the laws of 1992, is amended to read as follows:
20 1. Registration cards shall expire two years from the date of issuance
21 or last renewal as the case may be. Not less than sixty nor more than
22 ninety days prior to the expiration date of a registration card, the
23 department shall mail to each registrant at his last known address,
24 notice of renewal and a registration renewal form. Registration cards
25 shall not be renewed unless not more than sixty nor less than thirty
26 days prior to the expiration date of the registration card, the holder
27 submits to the department, a registration renewal form sworn to or
28 affirmed by the holder under the penalty of perjury together with a
10 12331-02-0
1 biennial renewal fee in the amount of Õtwenty-fiveå thirty-six dollars
2 payable to the department and a certificate certifying that the holder
3 has satisfactorily completed the required annual in-service training
4 courses as prescribed by the commissioner pursuant to subdivision one of
5 section eight hundred forty-one-c of the executive law. Unless the
6 department determines the existence of facts which would constitute
7 cause for denial, revocation or suspension of the registration card
8 pursuant to this article, it shall renew the registration card. Denial
9 of renewal hereunder shall be reviewable by an administrative hearing as
10 set forth in section seventy-nine of this chapter. The Õtwenty-fiveå
11 thirty-six dollar biennial renewal fee collected by the department shall
12 be deposited to the licensing examinations services account established
13 pursuant to the provisions of section Õ97-aaå ninety-seven-aa of the
14 state finance law. Notice that a registration card has expired or has
15 not been renewed pursuant to this section shall be given by the secre-
16 tary to the holder of such registration card and to the security guard
17 company by which such holder was employed at the time of such expiration
18 or non-renewal.
19 § 9. Subdivision 3 of section 131 of the executive law, as added by
20 chapter 13 of the laws of 1992, is amended to read as follows:
21 3. The secretary of state shall receive a non-refundable application
22 fee of Õthirtyå forty dollars from applicants for appointment, which fee
23 shall be submitted together with the application. No further fee shall
24 be paid for the issuance of the commission.
25 § 10. Section 131 of the executive law is amended by adding a new
26 subdivision 14 to read as follows:
27 14. The secretary of state shall receive a non-refundable examination
28 fee of twenty-five dollars from each person who takes an examination to
11 12331-02-0
1 qualify for application for a commission as a notary public pursuant to
2 this article.
3 § 11. This act shall take effect April 1, 2000.
4 PART C
5 Section 1. Notwithstanding any other law, rule or regulation to the
6 contrary, expenses of the department of health public service education
7 program incurred pursuant to appropriations from the cable television
8 account of the state miscellaneous special revenue funds shall be deemed
9 expenses of the department of public service.
10 § 2. Expenditures of moneys appropriated in a chapter of the laws of
11 2000 to the department of agriculture and markets from the special
12 revenue funds-other/state operations, miscellaneous special revenue
13 fund-339, public service account for the agricultural business services
14 program shall be subject to the provisions of this section. Notwith-
15 standing any law to the contrary, expenditures from the miscellaneous
16 special revenue fund appropriation, and indirect costs under the comp-
17 troller's statewide cost allocation plan, shall be deemed expenses of
18 the department of public service within the meaning of section 18-a of
19 the public service law and assessed accordingly. Expenditures subject
20 to assessment shall include those for direct and indirect participation
21 in certification proceedings pursuant to article 7 of the public service
22 law.
23 § 3. Expenditures of moneys appropriated in a chapter of the laws of
24 2000 to the department of economic development from the special revenue
25 funds-other/state operations, miscellaneous special revenue fund-339,
26 public service account for the administration program shall be subject
12 12331-02-0
1 to the provisions of this section. Notwithstanding any law to the
2 contrary, expenditures from the miscellaneous special revenue fund
3 appropriations and indirect costs under the comptroller's statewide cost
4 allocation plan, shall be deemed expenses of the department of public
5 service within the meaning of section 18-a of the public service law and
6 assessed accordingly. Expenditures subject to assessment shall include
7 those for direct and indirect participation in certification proceedings
8 pursuant to article 7 of the public service law.
9 § 4. Expenditures of moneys appropriated in a chapter of the laws of
10 2000 to the office of parks, recreation and historic preservation from
11 the special revenue funds-other/state operations, miscellaneous special
12 revenue fund-339, public service account under the historic preservation
13 program shall be subject to the provisions of this section. Notwith-
14 standing any law to the contrary, expenditures from the miscellaneous
15 special revenue fund appropriations, and indirect costs under the comp-
16 troller's statewide cost allocation plan, shall be deemed expenses of
17 the department of public service within the meaning of section 18-a of
18 the public service law and assessed accordingly. Expenditures subject to
19 assessment shall include those for direct and indirect participation in
20 certification proceedings pursuant to article 7 of the public service
21 law.
22 § 5. Expenditures of moneys appropriated in a chapter of the laws of
23 2000 to the consumer protection board from the special revenue funds -
24 other/state operations, miscellaneous special revenue fund-339, public
25 service account for the consumer protection program for services and
26 expenses related to consumer protection activities, including travel
27 outside the state, for participation in proceedings before the public
28 service commission and other governmental agencies shall be subject to
13 12331-02-0
1 the provisions of this section. Notwithstanding any provision of law to
2 the contrary, such expenditures shall be deemed an expense of the
3 department of public service within the meaning of section 18-a of the
4 public service law.
5 § 6. Expenditures of moneys appropriated in a chapter of the laws of
6 2000 to the department of environmental conservation from the special
7 revenue fund-other/state operations, miscellaneous special revenue
8 fund-339, utility environmental regulation account shall be subject to
9 the provisions of this section. Notwithstanding any law to the contrary,
10 expenditures from the miscellaneous special revenue fund and indirect
11 costs under the comptroller's statewide cost allocation plan, shall be
12 deemed expenses of the department of public service within the meaning
13 of section 18-a of the public service law and assessed accordingly.
14 Expenditures subject to assessment shall include those for direct and
15 indirect participation in certification proceedings pursuant to article
16 7 of the public service law; oil and gas, coal and nuclear regulatory
17 and planning activities; and small hydropower, cogeneration, alternate
18 energy and electric generation facility sitings.
19 § 7. Such state agencies receiving reimbursement under section 18-a of
20 the public service law for expenditures deemed expenses of the depart-
21 ment of public service other than the department of public service and
22 such public benefit corporation receiving reimbursement under section
23 18-a of the public service law shall report on February first of each
24 year the following information to the director of the division of the
25 budget, chairs of the senate and assembly energy committees, the senate
26 finance committee and the assembly ways and means committee: (1) a list
27 of all chargeable activities engaged in during the previous fiscal year;
28 (2) a list of all regulatory proceedings in which the agency or corpo-
14 12331-02-0
1 ration participated related to the regulation of utilities; and (3) a
2 list of all positions involved in these activities and the percentage of
3 chargeable time.
4 § 8. This act shall take effect April 1, 2000.
5 PART D
6 Section 1. The state comptroller is hereby authorized and directed to
7 loan money in accordance with the provisions set forth in subdivision 5
8 of section 4 of the state finance law to the following funds and/or
9 accounts:
10 1. Tuition reimbursement fund (050):
11 a. Proprietary vocational school supervision account (02).
12 2. Local government records management improvement fund (052).
13 3. Health facilities capital improvement fund (071).
14 4. Dedicated highway and bridge trust fund (072).
15 5. State parks infrastructure trust fund (076).
16 6. Clean water/clean air implementation fund (079).
17 7. State lottery fund (160).
18 8. Medicaid management information system escrow fund (179).
19 9. Federal health, education and human services fund (265):
20 a. Miscellaneous agencies (80).
21 10. Federal block grant fund (269):
22 a. 1999 community services block grant (L6).
23 b. 2000 community services block grant (M6).
24 c. 2001 community services block grant.
25 11. Federal operating grants fund (290):
26 a. Division of human rights federal housing assistance (19).
15 12331-02-0
1 b. Division of military and naval affairs training sites (30).
2 c. Division of military and naval affairs army and national guard
3 contract (35).
4 d. Division of military and naval affairs air national guard contract
5 (36).
6 e. Division of military and naval affairs air national guard security
7 guards (38).
8 f. Division of military and naval affairs emergency management account
9 (72).
10 g. HUD - emergency shelter grants (75).
11 h. Federal library services technology act account (90).
12 i. Federal energy management account - state heating oil program (AE).
13 j. HUD - HOPWA automated (AK).
14 k. National park rehab (A1).
15 l. Encon ISTEA (A9).
16 m. Division of veterans` affairs - veterans` education account (B5).
17 n. NW Brooklyn drug court (DE).
18 o. FTA program management account (FT).
19 p. Division of human rights federal equal employment opportunity (G1).
20 q. National community service fund (JA).
21 r. Rural and small urban transit aid account (L2).
22 s. Federal housing and urban development account-local planning (L3).
23 t. Urban mass transportation administration account-local planning
24 (L4).
25 u. Federal fund for pipeline safety account - 1983 pipeline safety
26 grant (L8).
27 v. Foster care and adoption (W6).
28 w. Buffalo city drug plan (W7).
16 12331-02-0
1 x. Suffolk district drug plan (W9).
2 y. Encon agriculture (Y1).
3 z. Encon commerce (Y2).
4 aa. Wildlife restoration (Y3).
5 bb. Encon EPA (Y4).
6 cc. Interior non wildlife (Y7).
7 dd. Air pollution control (Y8).
8 ee. Hazardous waste (Y9).
9 ff. Army (YO).
10 gg. COPSMORE 98 grant (2P).
11 hh. OCA - federal grants for drug court accounts.
12 12. Federal capital projects fund (291).
13 13. Environmental conservation special revenue fund (301):
14 a. Hazardous bulk storage account (F7).
15 b. Utility environmental regulation account (H4).
16 c. Low level radioactive waste siting account (K5).
17 d. Recreation account (K6).
18 e. Conservationist magazine account (S4).
19 f. Environmental regulatory account (S5).
20 g. Mined land reclamation program account (XB).
21 14. Environmental protection and oil spill compensation fund (303).
22 15. Clean air fund (314).
23 16. Centralized services account (323).
24 17. Suburban transportation fund (327).
25 18. Agency enterprise fund (331):
26 a. OGS convention center account (55).
27 19. Agencies internal service fund (334).
28 20. Miscellaneous special revenue fund (339):
17 12331-02-0
1 a. Adoption information registry account (01).
2 b. Statewide planning and research cooperative system account (03).
3 c. Energy office utility conservation activities account (06).
4 d. New York state thruway authority account (08).
5 e. Office of mental retardation and developmental disabilities nonper-
6 sonal service patient income account (10).
7 f. Empire state plaza arts center corporation account (12).
8 g. Civic center account (14).
9 h. Financial control board account (15).
10 i. Tri-state federal account (17).
11 j. Food assistance program account (19).
12 k. Quality of care account (20).
13 l. Continuing care retirement community account (28).
14 m. Surplus commodity container account (40).
15 n. Hospital and nursing home management account (44).
16 o. State university dormitory income reimbursable account (47).
17 p. Energy research account (60).
18 q. Emergency management account (61).
19 r. Criminal justice improvement account (62).
20 s. New York fire academy account (72).
21 t. Environmental laboratory reference fee account (81).
22 u. Health services account (86).
23 v. Clinical laboratory reference fee account (90).
24 w. Minority and women`s business development account (91).
25 x. Public employment relations board account (93).
26 y. Radiological health protection account (95).
27 z. Legal technology account (A1).
28 aa. Teacher certification program account (A4).
18 12331-02-0
1 bb. Banking department account (A5).
2 cc. Cable television account (A6).
3 dd. Small business administration account (A8).
4 ee. Hospital based grants program account (AF).
5 ff. Indirect cost recovery account (AH).
6 gg. High school equivalency program account (AI).
7 hh. Rail safety inspection account (AQ).
8 ii. Administrative reimbursement account (AR).
9 jj. OMRDD quality assurance audit account (AS).
10 kk. Insurance department account (B6).
11 ll. Workers' compensation account (B7).
12 mm. Bell jar account (BJ).
13 nn. Industry and utility service account (BK).
14 oo. Energy efficient rebate account (BL).
15 pp. Auditing services refund account (BN).
16 qq. Real property disposition account (BP).
17 rr. Parking account (BQ).
18 ss. Procurement revenue account (BR).
19 tt. Asbestos safety training program account (BW).
20 uu. Improvement of real property tax administration account (BZ).
21 vv. Public service account (C3).
22 ww. Revenue arrearage account (CR).
23 xx. State central register account (CY).
24 yy. Plant industry account (CZ).
25 zz. Batavia school for the blind account (D9).
26 aaa. Surplus property account (DE).
27 bbb. Financial oversight account (DI).
28 ccc. Medicaid fraud control (DL).
19 12331-02-0
1 ddd. Regulation of Indian gaming account (DT).
2 eee. Special conservation activities account (DU).
3 fff. Office of the professions account (E3).
4 ggg. Rome school for the deaf account (E6).
5 hhh. Seized assets account (E8).
6 iii. Administrative adjudication account (E9).
7 jjj. Federal salary sharing account (EC).
8 kkk. Transportation regulation account (F1).
9 lll. Local services account (G3).
10 mmm. Division of housing and community renewal housing information
11 systems special revenue account (H1).
12 nnn. Housing special revenue account (H2).
13 ooo. Triplicate prescription forms account (H5).
14 ppp. Department of motor vehicles compulsory insurance account (H7).
15 qqq. Professional medical conduct account (H9).
16 rrr. Housing credit agency application fee account (J5).
17 sss. Roger Tory Peterson account (K7).
18 ttt. Adult cystic fibrosis program account (L5).
19 uuu. Federal gasoline and diesel fuel excise tax account (L6).
20 vvv. Administrative reimbursement fund (L7).
21 www. Maternal and child HIV services account (LC).
22 xxx. Low income housing credit monitoring fee account (NG).
23 yyy. Procurement opportunities newsletter account (P4).
24 zzz. Corporation administration account (P6).
25 aaaa. Excelsior capital corporation reimbursement account (R1).
26 bbbb. Motor fuel quality account (R4).
27 cccc. Weights and measures account (R5).
28 dddd. Deferred compensation administration account (R7).
20 12331-02-0
1 eeee. Batavia medicaid income account (S1).
2 ffff. Rent revenue account (S8).
3 gggg. Rent revenue other account.
4 hhhh. Transportation safety account (T1).
5 iiii. Transportation aviation account (T5).
6 jjjj. Solid waste management account (W3).
7 kkkk. Occupational health clinics account (W4).
8 llll. Examination and Miscellaneous revenue account.
9 mmmm. State student financial aid audit account.
10 nnnn. Montrose veteran's home account.
11 oooo. Child support incentive revenue account.
12 21. State university income fund (345):
13 a. State university general income offset account (11).
14 22. State police and motor vehicle law enforcement fund (354):
15 a. State police motor vehicle law enforcement account (02).
16 23. Youth facilities improvement fund (357).
17 24. Highway safety program fund (362).
18 25. Drinking water program management and administration fund (366).
19 26. New York City county clerks offset fund (368).
20 27. Housing assistance fund (374).
21 28. Housing program fund (376).
22 29. Department of transportation - engineering services fund (380).
23 30. Miscellaneous capital projects (387):
24 a. Clean air capital account (08).
25 31. CUNY capital projects fund (388).
26 32. Mental hygiene facilities capital improvement fund (389).
27 33. Joint/labor management administration fund (394):
28 a. Joint labor/management administration fund (01).
21 12331-02-0
1 34. Audit and control revolving account (395):
2 a. Executive direction internal audit account (04).
3 35. Health insurance internal service fund (396).
4 36. Correctional industries revolving account (397).
5 37. Correctional facilities capital improvement fund (399).
6 § 2. Notwithstanding section 97-n of the state finance law, and in
7 accordance with section 4 of the state finance law, the comptroller is
8 hereby authorized and directed, upon request of the director of the
9 budget, to transfer any moneys in the Hudson river valley greenway fund
10 (056) between the Hudson river valley greenway communities council
11 account (01) and the greenway heritage conservancy of the Hudson river
12 valley account (02) on or before March 31, 2001.
13 § 3. The comptroller is authorized and directed to deposit to the
14 general fund - state purposes account reimbursements from moneys appro-
15 priated or reappropriated to the correctional facilities improvement
16 fund (399) by a chapter of the laws of 2000. Reimbursements shall be
17 available for spending from appropriations made to the department of
18 justice in the general fund - state purposes account by a chapter of the
19 laws of 2000 for costs associated with the administration and security
20 of capital projects and for other costs which are attributable, accord-
21 ing to a plan, to such capital projects.
22 § 4. Notwithstanding the provisions of section 171-a of the tax law
23 or any other provisions of law to the contrary, during the fiscal year
24 beginning April 1, 2000, the state comptroller is hereby authorized and
25 directed to deposit to the fund created pursuant to section 97-rrr of
26 the state finance law (the school tax relief fund) from amounts
27 collected pursuant to article 22 of the tax law and pursuant to a sched-
28 ule submitted by the director of the budget, up to $2,110,000,000, as
22 12331-02-0
1 may be certified in such schedule as necessary to meet the purposes of
2 such fund for the fiscal year beginning April 1, 2000, and up to
3 $1,200,000,000 as may be certified in such schedule as necessary to meet
4 the purposes of such fund for the fiscal year beginning April 1, 2001.
5 § 5. Subdivision 10 of section 97-ttt of the state finance law is
6 REPEALED.
7 § 6. Subdivision 4 of section 40 of the state finance law, as amended
8 by section 11 of part C of chapter 389 of the laws of 1997, is amended
9 to read as follows:
10 4. Every appropriation made from a fund or account to a department or
11 agency shall be available for the payment of prior years' liabilities in
12 such fund or account for fringe benefits, indirect costs, and telecommu-
13 nications expenses and expenses for other centralized services fund
14 programs without limit. Every appropriation shall also be available for
15 the payment of prior years' liabilities other than those indicated above
16 but only to the extent of one-half of one percent of the total amount
17 appropriated to a department or agency in such fund or account.
18 ÕThe provisions of this subdivision shall expire March thirty-first,
19 two thousand.å
20 § 7. Subdivision 6 of section 4 of the state finance law, as amended
21 by section 2 of part C of chapter 389 of the laws of 1997, is amended to
22 read as follows:
23 6. Notwithstanding any law to the contrary, at the beginning of the
24 state fiscal year, the state comptroller is hereby authorized and
25 directed to receive for deposit to the credit of a fund and/or an
26 account such monies as are identified by the director of the budget as
27 having been intended for such deposit to support disbursements from such
28 fund and/or account made in pursuance of an appropriation by law. As
23 12331-02-0
1 soon as practicable upon enactment of the budget, the director of the
2 budget shall, but not less than three days following preliminary
3 submission to the chairs of the senate finance committee and the assem-
4 bly ways and means committee, file with the state comptroller an iden-
5 tification of specific monies to be so deposited. Any subsequent change
6 regarding the monies to be so deposited shall be filed by the director
7 of the budget, as soon as practicable, but not less than three days
8 following preliminary submission to the chairs of the senate finance
9 committee and the assembly ways and means committee.
10 All monies identified by the director of the budget to be deposited to
11 the credit of a fund and/or account shall be consistent with the intent
12 of the budget for the then current state fiscal year as enacted by the
13 legislature.
14 ÕThe provisions of this subdivision shall expire on March thirty-
15 first, two thousand.å
16 § 8. Section 88-c of the state finance law is REPEALED.
17 § 9. Section 97-j of the state finance law is REPEALED.
18 § 10. Section 2867 of the public health law is REPEALED.
19 § 11. (1) Pursuant to various chapters of the laws of 2000 making
20 appropriations for capital projects, such appropriations shall be deemed
21 to provide all costs necessary and pertinent to accomplish the intent of
22 the appropriation including apportionments to departments, agencies or
23 corporations for the purposes of the specific appropriation or for
24 payment to the construction management account of the centralized
25 services fund of the New York state office of general services for the
26 preparation and review of plans, specifications, estimates, services,
27 construction management and supervision, inspection, studies,
24 12331-02-0
1 appraisals, surveys, testing and environmental statements relating to
2 existing or proposed facilities.
3 Appropriations from the Capital Projects Fund, the City University of
4 New York Capital Projects Fund, the Mental Hygiene Capital Improvement
5 Fund, the Department of Health Facilities Capital Improvement Fund, the
6 Correctional Facilities Capital Improvement Fund, the Youth Facilities
7 Improvement Fund, the Housing Assistance Fund, the Housing Program Fund,
8 the Engineering Services Fund, the Dedicated Highway and Bridge Trust
9 Fund, the Suburban Transportation Fund, the State Parks Infrastructure
10 Fund, the Passenger Facility Charge Fund, the State University Residence
11 Hall Rehabilitation Fund, the State University Capital Projects Fund,
12 the New York State Canal System Development Fund, the Financial Security
13 Fund, the Natural Resources Damages Fund, the Federal Capital Projects
14 Fund, and the Regional Aviation Fund are appropriated in accordance with
15 the provisions of section 93 of the state finance law. Moneys appropri-
16 ated from each such fund type for CCP's, for agency purposes within
17 CCP's, and for projects sharing the same agency purpose within a CCP may
18 be transferred among projects within a CCP in accordance with paragraphs
19 (a) through (g) of subdivision 4 of section 93 of the state finance law
20 and may be transferred among purposes within a CCP subject to the limi-
21 tations of paragraph (e) of subdivision 4 of section 93 of the state
22 finance law.
23 Notwithstanding the provisions of any general or special law, the
24 provisions of paragraphs (a) through (g) of subdivision 4 of section 93
25 of the state finance law which relate to the transfer of a portion of a
26 capital appropriation to another capital appropriation shall be applica-
27 ble to appropriations from each fund.
25 12331-02-0
1 (2) The following funds are eligible to be reimbursed from miscella-
2 neous receipts or the proceeds of notes or bonds sold by public authori-
3 ties, as specified in this subdivision:
4 (a) the health facilities capital improvement fund, from the proceeds
5 of the sale of notes or bonds issued by the New York state dormitory
6 authority;
7 (b) the dedicated highway and bridge trust fund, from miscellaneous
8 receipts or the proceeds of the sale of notes or bonds issued by the New
9 York state thruway authority;
10 (c) the youth facilities improvement fund and the correctional facili-
11 ties capital improvement fund, from the proceeds of the sale of notes or
12 bonds issued by the New York state urban development corporation;
13 (d) the housing assistance fund and the housing program fund, from the
14 proceeds of the sale of notes or bonds issued by the housing finance
15 agency;
16 (e) the mental hygiene capital facilities improvement fund, from
17 miscellaneous receipts or the proceeds of the sale of notes or bonds
18 issued by the New York state dormitory authority as successor to the
19 medical care facilities financing agency pursuant to chapter 83 of the
20 laws of 1995;
21 The comptroller shall receive such reimbursements for deposit in the
22 funds so specified.
23 (3) The comptroller is hereby authorized and directed to deposit
24 moneys received, as specified below:
25 (a) the engineering services fund shall receive reimbursements from
26 various capital appropriations;
26 12331-02-0
1 (b) the financial security fund shall receive moneys recovered in
2 accordance with various required financial security arrangements for
3 environmental projects;
4 (c) the natural resources damages fund shall receive moneys recovered
5 from successful natural resource damage claims and related settlements;
6 and
7 (d) the regional aviation fund shall receive moneys from the lease of
8 Stewart Airport, including any payments due to the state from related
9 settlements or agreements.
10 (4) The comptroller shall certify monthly to the director of the budg-
11 et and the chairs of the senate finance and assembly ways and means
12 committees, the total disbursements from the correctional facilities
13 capital improvement fund (399), the department of health facilities
14 capital improvement fund (071), the housing assistance fund (374), the
15 youth facilities improvement fund (357), the housing program fund (376),
16 and the mental hygiene capital improvement fund (389), the total
17 reimbursements to such funds from bond proceeds, and the amount of
18 disbursements from such funds remaining to be financed with bond
19 proceeds. Once a year, as soon as practicable after March 31, the comp-
20 troller shall certify to the director of the budget and the chairs of
21 the senate finance and assembly ways and means committees, for the
22 fiscal year just ended, total disbursements from the correctional facil-
23 ities capital improvement fund, the department of health facilities
24 capital improvement fund, the youth facilities improvement fund, the
25 housing assistance fund, the housing program fund, and the mental
26 hygiene capital improvement fund any amounts transferred from the capi-
27 tal projects fund to such funds for nonbondable disbursements, the total
28 reimbursements to such funds from bond proceeds, and the amount of
27 12331-02-0
1 disbursements from such funds remaining to be financed with bond
2 proceeds.
3 (5) The dormitory authority of the state of New York and the depart-
4 ment of health shall report quarterly to the director of the budget the
5 amounts expended from appropriations in the capital projects fund which
6 are eligible for reimbursement from the proceeds of the bonds. The
7 housing finance agency in conjunction with the affordable housing corpo-
8 ration, the homeless housing assistance corporation and the commissioner
9 of the office of temporary and disability assistance, and the housing
10 trust fund corporation shall report quarterly to the director of the
11 budget on the amounts disbursed from appropriations in the housing
12 program fund and the housing assistance fund which are eligible for
13 repayment from the proceeds of the bonds. The dormitory authority of the
14 state of New York, as successor to the facilities development corpo-
15 ration pursuant to chapter 83 of the laws of 1995 and the office of
16 mental health, the office of mental retardation and developmental disa-
17 bilities, and the office of alcoholism and substance abuse services
18 shall report quarterly to the director of the budget on the amounts
19 disbursed from appropriations in the mental hygiene capital improvement
20 fund which are eligible for reimbursement from the proceeds of the
21 bonds. Such reports shall be submitted to the director of the budget no
22 later than July 30, October 31, January 30, and April 30 of each state
23 fiscal year. The director of the budget shall review these reports and
24 then certify to the comptroller amounts expended from these appropri-
25 ations which are reimbursable from bond proceeds. Until such time as the
26 director of the budget determines that the amounts disbursed from such
27 funds are not reimbursable from bond proceeds, all such disbursements
28 shall be considered to be reimbursable from bond proceeds. Upon such
28 12331-02-0
1 certifications for the housing assistance fund, the housing program
2 fund, and the mental hygiene capital improvement fund, the comptroller
3 is hereby authorized to transfer from the capital projects fund, pursu-
4 ant to an appropriation, an amount equal to the amount of disbursements
5 from these appropriations which have not been certified as repayable
6 from bond proceeds.
7 § 12. Notwithstanding any other law, rule or regulation to the contra-
8 ry, the comptroller is hereby authorized and directed to deposit to the
9 credit of the capital projects fund reimbursement from the proceeds of
10 notes and bonds issued by the environmental facilities corporation for a
11 capital appropriation for $27,452,000 authorized by chapter 55 of the
12 laws of 1996 to the department of environmental conservation for a
13 payment of a portion of the state's match for federal capitalization
14 grants for the water pollution control revolving loan fund.
15 § 13. Notwithstanding any other law, rule or regulation to the contra-
16 ry, the comptroller is hereby authorized and directed to deposit to the
17 credit of the capital projects fund reimbursement from the proceeds of
18 notes and bonds issued by the environmental facilities corporation for a
19 capital appropriation for $29,960,000 authorized by chapter 55 of the
20 laws of 1997 to the department of environmental conservation for a
21 payment of a portion of the state's match for federal capitalization
22 grants for the water pollution control revolving loan fund.
23 § 14. Notwithstanding any other law, rule or regulation to the contra-
24 ry, the comptroller is hereby authorized and directed to deposit to the
25 credit of the capital projects fund, reimbursement from the proceeds of
26 notes and bonds issued by the environmental facilities corporation for a
27 capital appropriation for $20,241,000 authorized by chapter 55 of the
28 laws of 1998 to the department of environmental conservation for a
29 12331-02-0
1 payment of a portion of the state's match for federal capitalization
2 grants for the water pollution control revolving loan fund.
3 § 15. Notwithstanding any other law, rule or regulation to the contra-
4 ry, the comptroller is hereby authorized and directed to deposit to the
5 credit of the capital projects fund, reimbursement from the proceeds of
6 notes and bonds issued by the environmental facilities corporation for a
7 capital appropriation for $22,404,000 authorized by chapter 55 of the
8 laws of 1999 to the department of environmental conservation for payment
9 of a portion of the state's match for federal capitalization grants for
10 the water pollution control revolving loan fund, reimbursements for
11 spending from various appropriations for projects related to the New
12 York City Watershed, reimbursement from the proceeds of notes and bonds
13 issued by the environmental facilities corporation for a capital appro-
14 priation for $22,500,000 authorized by chapter 55 of the laws of 1999 to
15 the environmental facilities corporation for payment for the jobs two
16 thousand pipeline for jobs program, reimbursement from the proceeds of
17 notes and bonds issued by the dormitory authority of the state of New
18 York for a capital appropriation for $47,500,000 authorized by chapter
19 53 of the laws of 1999 to the office of science, technology and academic
20 research for payment for the jobs two thousand capital facilities
21 program, reimbursement from the proceeds of notes and bonds issued by
22 the dormitory authority of the state of New York for a capital appropri-
23 ation for $145,000,000 authorized by chapter 53 of the laws of 1999 to
24 the state education department for payment of capital construction
25 grants to school districts pursuant to the rebuilding schools to uphold
26 education program, reimbursement from the proceeds of notes and bonds
27 issued by the urban development corporation for a capital appropriation
28 for $25,000,000 authorized by chapter 55 of the laws of 1999 to all
30 12331-02-0
1 state agencies for payment of costs related to economic development,
2 land acquisition, and heritage trail projects, and for reimbursement
3 from the proceeds of notes and bonds issued by the dormitory authority
4 of the state of New York for a capital appropriation for $15,000,000
5 authorized by chapter 53 of the laws of 1999 to the office of children
6 and family services for payment of costs related to the child care
7 facilities development program.
8 § 16. Notwithstanding any other law, rule or regulation to the contra-
9 ry, the comptroller is hereby authorized and directed to deposit to the
10 credit of the capital projects fund, reimbursement from the proceeds of
11 notes and bonds issued by the environmental facilities corporation for a
12 capital appropriation for $43,383,000 authorized by a chapter of the
13 laws of 2000 to the department of environmental conservation for payment
14 of a portion of the state's match for federal capitalization grants for
15 the water pollution control revolving loan fund, to reimburse spending
16 from various appropriations for certain projects related to the New York
17 City Watershed, and reimbursement from the proceeds of notes and bonds
18 issued by the empire state development corporation or other financing
19 source for a capital appropriation for $25,000,000 authorized by a chap-
20 ter of the laws of 2000 to the office of general services for payment of
21 capital construction costs for the department of transportation region
22 one headquarters building located in the city of Schenectady.
23 § 17. Notwithstanding any other law, rule or regulation to the contra-
24 ry, the state comptroller is hereby authorized and directed to use any
25 balance remaining in the mental health services fund debt service appro-
26 priation, after payment by the state comptroller of all obligations of
27 the facilities development corporation, or any successor agency,
28 required pursuant to any lease, sublease or other financing arrangement
31 12331-02-0
1 between the facilities development corporation, the dormitory authority
2 of the state of New York as successor to the New York state medical care
3 facilities financing agency and the facilities development corporation
4 pursuant to chapter 83 of the laws of 1995 and the department of mental
5 hygiene for the purpose of making payments to such agency for the amount
6 of the earnings for the investment of monies deposited in the mental
7 health services fund that such agency determines will or may have to be
8 rebated to the federal government pursuant to the provisions of the
9 internal revenue code of 1986, as amended, in order to enable such agen-
10 cy to maintain the exemption from federal income taxation on the inter-
11 est paid to the holders of such agency's mental services facilities
12 improvement revenue bonds. On or before June 30, 2001, such agency
13 shall certify to the state comptroller, its determination of the amounts
14 received in the mental health services fund as a result of the invest-
15 ment of monies deposited therein that will or may have to be rebated to
16 the federal government pursuant to the provisions of the internal reven-
17 ue code of 1986, as amended.
18 § 18. Pursuant to article 5-A of the state finance law, the total
19 amount of certificates of participation to be issued in the state fiscal
20 year beginning April 1, 2000, to finance and, where appropriate to refi-
21 nance, personal property purposes including the cost of issuance and
22 related costs, shall not exceed $76,000,000 for installment purchases
23 and/or lease purchases of all state departments and agencies, units of
24 the state university of New York and city university of New York, and
25 the unified court system.
26 § 19. Pursuant to article 5-A of the state finance law, the total
27 amount of certificates of participation to be issued in the state fiscal
28 year beginning April 1, 2000, to finance and, where appropriate to refi-
32 12331-02-0
1 nance, personal property purposes including the cost of issuance and
2 related costs, shall not exceed $199,000,000 for installment purchases
3 and/or lease purchases of the office of children and family services,
4 the department of labor, the office of temporary and disability assist-
5 ance, and the department of health.
6 § 20. 1. Notwithstanding any other law, rule, or regulation to the
7 contrary, the state comptroller shall at the commencement of each month
8 certify to the director of the budget, the commissioner of environmental
9 conservation, the chair of the senate finance committee, and the chair
10 of the assembly ways and means committee the amounts disbursed from all
11 appropriations for hazardous waste site remediation disbursements for
12 the month preceding such certification.
13 2. Notwithstanding any law to the contrary, prior to the issuance by
14 the comptroller of bonds authorized pursuant to subdivision a of section
15 4 of the environmental quality bond act of nineteen hundred eighty-six,
16 as enacted by chapter 511 of the laws of 1986, disbursements from all
17 appropriations for that purpose shall first be reimbursed from moneys
18 credited to the hazardous waste remedial fund, site investigation and
19 construction account, to the extent moneys are available in such
20 account. For purposes of determining moneys available in such account,
21 the commissioner of environmental conservation shall certify to the
22 comptroller the amounts required for administration of the hazardous
23 waste remedial program.
24 3. The comptroller is hereby authorized and directed to transfer any
25 balance above the amounts certified by the commissioner of environmental
26 conservation to reimburse disbursements pursuant to all appropriations
27 from such site investigation and construction account, provided, howev-
28 er, that if such transfers are determined by the comptroller to be
33 12331-02-0
1 insufficient to assure that interest paid to holders of state obli-
2 gations issued for hazardous waste purposes pursuant to the environ-
3 mental quality bond act of nineteen hundred eighty-six, as enacted by
4 chapter 511 of the laws of 1986, is exempt from federal income taxation,
5 the comptroller is hereby authorized and directed to transfer from such
6 site investigation and construction account to the general fund, the
7 amount necessary to redeem bonds in an amount necessary to assure the
8 continuation of such tax exempt status. Prior to the making of any such
9 transfers, the comptroller shall notify the director of the budget of
10 the amount of such transfers.
11 § 21. Subdivision 1 of section 16 of part D of chapter 389 of the laws
12 of 1997, relating to the financing of the correctional facilities
13 improvement fund and the youth facility improvement fund, as amended by
14 section 15 of part F of chapter 405 of the laws of 1999, is amended to
15 read as follows:
16 1. Notwithstanding the provisions of section 18 of chapter 174 of the
17 laws of 1968, the New York state urban development corporation is hereby
18 authorized to issue bonds, notes and other obligations in an aggregate
19 principal amount not to exceed Õfour billion two hundred eighty-one
20 million six hundred ninety-three thousand dollars ($4,281,693,000)å four
21 billion seven hundred forty-one million six hundred ninety-three thou-
22 sand dollars ($4,741,693,000), and shall include all bonds, notes and
23 other obligations issued pursuant to chapter 56 of the laws of 1983, as
24 amended or supplemented. The proceeds of such bonds, notes or other
25 obligations shall be paid to the state, for deposit in the correctional
26 facilities capital improvement fund to pay for all or any portion of the
27 amount or amounts paid by the state from appropriations or reappropri-
28 ations made to the department of Õcorrectional serviceså justice from
34 12331-02-0
1 the correctional facilities capital improvement fund for capital
2 projects. The aggregate amount of bonds, notes or other obligations
3 authorized to be issued pursuant to this section shall exclude bonds,
4 notes or other obligations issued to refund or otherwise repay bonds,
5 notes or other obligations theretofore issued, the proceeds of which
6 were paid to the state for all or a portion of the amounts expended by
7 the state from appropriations or reappropriations made to the department
8 of Õcorrectional serviceså justice; provided, however, that upon any
9 such refunding or repayment the total aggregate principal amount of
10 outstanding bonds, notes or other obligations may be greater than Õfour
11 billion two hundred eighty-one million six hundred ninety-three thousand
12 dollars ($4,281,693,000)å four billion seven hundred forty-one million
13 six hundred ninety-three thousand dollars ($4,741,693,000), only if the
14 present value of the aggregate debt service of the refunding or repay-
15 ment bonds, notes or other obligations to be issued shall not exceed the
16 present value of the aggregate debt service of the bonds, notes or other
17 obligations so to be refunded or repaid. For the purposes hereof, the
18 present value of the aggregate debt service of the refunding or repay-
19 ment bonds, notes or other obligations and of the aggregate debt service
20 of the bonds, notes or other obligations so refunded or repaid, shall be
21 calculated by utilizing the effective interest rate of the refunding or
22 repayment bonds, notes or other obligations, which shall be that rate
23 arrived at by doubling the semi-annual interest rate (compounded semi-
24 annually) necessary to discount the debt service payments on the refund-
25 ing or repayment bonds, notes or other obligations from the payment
26 dates thereof to the date of issue of the refunding or repayment bonds,
27 notes or other obligations and to the price bid including estimated
35 12331-02-0
1 accrued interest or proceeds received by the corporation including esti-
2 mated accrued interest from the sale thereof.
3 § 22. Section 42 of part F of chapter 405 of the laws of 1999 amend-
4 ing the real property tax law and other laws relating to improving the
5 administration of the school tax relief (STAR) program is amended to
6 read as follows:
7 § 42. This act shall take effect immediately and shall be deemed to
8 have been in full force and effect on and after April 1, 1999, provided,
9 however, that sections one through five, seven through Õfourteenå elev-
10 en, twelve through fourteen, and seventeen of this act shall be deemed
11 in full force and effect through March 31, 2000 upon which date such
12 sections shall expire and be deemed repealed.
13 § 23. Subdivisions 4, 5 and 6 of section 97-bbb of the state finance
14 law, as added by chapter 413 of the laws of 1996, are amended to read as
15 follows:
16 4. On or before Õthe fifth day of each month, the comptroller shall
17 certify toå each April first, and at least quarterly thereafter, the
18 director of the budget shall certify to the comptroller, the chairperson
19 of the senate finance committee and the chairperson of the assembly ways
20 and means committee a monthly amount Õwhich the comptroller and the
21 director of the budget projectå projected to be necessary to meet the
22 total annual debt service requirements for the current fiscal year on
23 any bonds Õand noteså issued as authorized by the Clean Water/Clean Air
24 Bond Act of 1996. Such amount shall be calculated by estimating the
25 total annual debt service for the current fiscal year less any amounts
26 already retained to meet such requirement divided by the number of
27 months remaining in such year. Such monthly amount shall be retained
36 12331-02-0
1 within such fund for transfer to the general debt service fund for
2 reimbursement of debt service on such bonds Õand noteså.
3 5. The comptroller shall transfer, as needed, to the general debt
4 service fund such moneys as are necessary to reimburse such fund for any
5 debt service disbursements made on such bonds Õor noteså. In the event
6 that moneys retained in the clean water/clean air fund are less than the
7 amount needed for such reimbursement, the comptroller shall offset such
8 shortfall from subsequent deposits in the clean water/clean air fund as
9 soon as the revenue is available.
10 6. No later than the last day of the month, the comptroller shall
11 transfer to the general fund any moneys received in such fund during the
12 month that are in excess of the monthly amount certified by the Õcomp-
13 troller for such monthå director of the budget. Notwithstanding any
14 other provision of law, the comptroller shall, on the last day of each
15 fiscal year pay to the general fund all moneys remaining in such fund
16 that are not needed for reimbursement of debt service for the current
17 fiscal year.
18 § 24. Subdivision 2 of section 2926 of the public authorities law, as
19 added by section 23 of part D of chapter 389 of the laws of 1997, is
20 amended to read as follows:
21 2. Authorized issuer; powers. In connection with the issuance of
22 bonds, notes, or other obligations, or in connection with such bonds,
23 notes, or other obligations already outstanding under such financing,
24 bonding, capital, or other such similar program, as specified in subdi-
25 vision one of this section, an authorized issuer shall have the power
26 until July first, two thousand three to:
27 (a) enter into interest rate exchange or similar agreements with any
28 person under such terms and conditions as the authorized issuer may
37 12331-02-0
1 determine, including provisions as to default or early termination and
2 indemnification by the authorized issuer or any other party thereto for
3 loss of benefits as a result thereof;
4 (b) procure insurance, letters of credit or other credit enhancement
5 with respect to agreements described in paragraph (a) of this subdivi-
6 sion;
7 (c) provide security for the payment or performance of its obligations
8 with respect to agreements described in paragraph (a) of this subdivi-
9 sion from such sources and with the same effect as is authorized by
10 applicable law with respect to security for its bonds, notes or other
11 obligations; and
12 (d) modify, amend, Õorå replace, or enter into new such agreements,
13 including after July first, two thousand Õin the event of a counterparty
14 downgrade, default or similarå three, for the purpose of reducing or
15 eliminating a situation of risk or exposure under an existing agreement,
16 including, but not limited to a counterparty downgrade, default, or
17 other potential economic loss.
18 § 25. Paragraph (d) of subdivision 3 of section 2926 of the public
19 authorities law, as added by section 23 of part D of chapter 389 of the
20 laws of 1997, is amended to read as follows:
21 (d) the total notional amount of such interest rate exchange or simi-
22 lar agreements entered into by the authorized issuer shall not exceed an
23 amount equal to ten percent of the authorized issuer's total amount of
24 bonds, notes, or other obligations outstanding under such financing,
25 bonding, capital, or other such similar program, as specified in subdi-
26 vision one of this section; provided, however, that such total notional
27 amount shall not include the notional amount of interest rate exchange
28 or similar agreements entered into for the purpose of reducing or elimi-
38 12331-02-0
1 nating a situation of risk or exposure under an existing agreement,
2 including, but not limited to a counterparty downgrade, default, or
3 other potential economic loss.
4 § 26. (a) Notwithstanding the provisions of section 18 of the New York
5 state urban development corporation act, the urban development corpo-
6 ration is hereby authorized to issue bonds or notes in one or more
7 series in an aggregate principal amount not to exceed $25,000,000,
8 excluding bonds issued to fund one or more debt service reserve funds,
9 to pay costs of issuance of such bonds, and bonds or notes issued to
10 refund or otherwise repay such bonds or notes previously issued, for the
11 purpose of financing the department of transportation region one head-
12 quarters building located in the city of Schenectady, including the
13 reimbursement of any disbursements made from the state capital projects
14 fund. Such bonds and notes of the corporation shall not be a debt of the
15 state, and the state shall not be liable thereon, nor shall they be
16 payable out of any funds other than those appropriated by the state to
17 the corporation for debt service and related expenses pursuant to any
18 service contracts executed pursuant to subdivision (b) of this section
19 and such bonds and notes shall contain on the face thereof a statement
20 to such effect. Except for purposes of complying with the internal
21 revenue code, any interest income earned on bond proceeds shall only be
22 used to pay debt service on such bonds.
23 (b) Notwithstanding any provisions of law to the contrary, in order to
24 assist the corporation in undertaking the administration and financing
25 of the project authorized pursuant to subdivision (a) of this section,
26 the director of the budget is hereby authorized to enter into one or
27 more service contracts with the corporation, none of which shall exceed
28 more than thirty years in duration, upon such terms and conditions as
39 12331-02-0
1 the director of the budget and the corporation agree, so as to annually
2 provide to the corporation, in the aggregate, a sum not to exceed the
3 annual debt service payments and related expenses required for the bonds
4 and notes issued pursuant to this section. Any service contract entered
5 into pursuant to this subdivision shall provide that the obligation of
6 the state to pay the amount therein provided shall not constitute a debt
7 of the state within the meaning of any constitutional or statutory
8 provision and shall be deemed executory only to the extent of monies
9 available and that no liability shall be incurred by the state beyond
10 the monies available for such purposes, subject to annual appropriation
11 by the legislature. Any such contract or any payments made or to be made
12 thereunder may be assigned and pledged by the corporation as security
13 for its bonds and notes, as authorized by this section.
14 § 27. Paragraph c of subdivision 1 of section 9-a of section 1 of
15 chapter 392 of the laws of 1973, constituting the New York state medical
16 care facilities finance agency act, as amended by chapter 90 of the laws
17 of 1989, is amended to read as follows:
18 c. "Mental health services facilities improvement program" shall mean
19 a program undertaken by the agency and the facilities development corpo-
20 ration for the purpose of financing, refinancing, designing, construct-
21 ing, acquiring, reconstructing, rehabilitating, environmentally remedi-
22 ating, demolishing or improving mental hygiene facilities and mental
23 health services facilities or causing such facilities to be financed,
24 refinanced, designed, constructed, acquired, reconstructed, rehabili-
25 tated, environmentally remediated, demolished or improved.
26 § 28. Paragraphs a and b of subdivision 2 of section 9-a of section 1
27 of chapter 392 of the laws of 1973, constituting the New York state
28 medical care facilities finance agency act, paragraph a as amended by
40 12331-02-0
1 chapter 203 of the laws of 1990 and paragraph b as amended by chapter 60
2 of the laws of 1993, are amended to read as follows:
3 a. The agency shall have power to enter into one or more lease,
4 sublease, loan or other financing agreements with the directors of the
5 facilities development corporation, or any successor agency, for the
6 purpose of providing the financing or refinancing for or for designing,
7 constructing, acquiring, reconstructing, rehabilitating, environmentally
8 remediating, demolishing and improving mental health services facilities
9 at new or existing mental health services facilities, or on any real
10 property or interest in real property owned by or conveyed from said
11 corporation, or any successor agency, or any voluntary agency, or for
12 the refinancing of any such facilities for which bonds have previously
13 been issued by the agency or by the state housing finance agency and are
14 outstanding and to cause by the providing of such financing such facili-
15 ties to be designed, constructed, acquired, reconstructed,
16 rehabilitated, environmentally remediated, demolished or improved or
17 financed or refinanced by the directors of the said corporation, or any
18 successor agency, all in accordance with one or more lease, sublease,
19 loan or other financing agreements entered into between the agency and
20 the directors of the said corporation pursuant to subdivision 4 of
21 section 9 of the facilities development corporation act.
22 b. The agency shall have power and is hereby authorized from time to
23 time to issue negotiable bonds and notes in conformity with applicable
24 provisions of the uniform commercial code in such principal amount as,
25 in the opinion of the agency, shall be necessary, after taking into
26 account other moneys which may be available for the purpose, to provide
27 sufficient funds to the facilities development corporation, or any
28 successor agency, for the financing or refinancing of or for the design,
41 12331-02-0
1 construction, acquisition, reconstruction, rehabilitation, environmental
2 remediation, demolition or improvement of mental health services facili-
3 ties pursuant to paragraph a of this subdivision, the payment of inter-
4 est on mental health services improvement bonds and mental health
5 services improvement notes issued for such purposes, the establishment
6 of reserves to secure such bonds and notes, the cost or premium of bond
7 insurance or the costs of any financial mechanisms which may be used to
8 reduce the debt service that would be payable by the agency on its
9 mental health services facilities improvement bonds and notes and all
10 other expenditures of the agency incident to and necessary or convenient
11 to providing the facilities development corporation, or any successor
12 agency, with funds for the financing or refinancing of or for any such
13 design, construction, acquisition, reconstruction, rehabilitation, envi-
14 ronmental remediation, demolition or improvement and for the refunding
15 of mental hygiene improvement bonds issued pursuant to section Õforty-
16 seven-bå 47-b of the private housing finance law; provided, however,
17 that the agency shall not issue mental health services facilities
18 improvement bonds and mental health services facilities improvement
19 notes in an aggregate principal amount exceeding Õfourå six billion
20 Õfourå six hundred million dollars, excluding mental health services
21 facilities improvement bonds and mental health services facilities
22 improvement notes issued to refund outstanding mental health services
23 facilities improvement bonds and mental health services facilities
24 improvement notes; provided, however, that upon any such refunding or
25 repayment of mental health services facilities improvement bonds and/or
26 mental health services facilities improvement notes the total aggregate
27 principal amount of outstanding mental health services facilities
28 improvement bonds and mental health facilities improvement notes may be
42 12331-02-0
1 greater than Õfourå six billion Õfourå six hundred million dollars only
2 if, except as hereinafter provided with respect to mental health
3 services facilities bonds and mental health services facilities notes
4 issued to refund mental hygiene improvement bonds authorized to be
5 issued pursuant to the provisions of section Õforty-seven-bå 47-b of the
6 private housing finance law, the present value of the aggregate debt
7 service of the refunding or repayment bonds to be issued shall not
8 exceed the present value of the aggregate debt service of the bonds to
9 be refunded or repaid. For purposes hereof, the present values of the
10 aggregate debt service of the refunding or repayment bonds, notes or
11 other obligations and of the aggregate debt service of the bonds, notes
12 or other obligations so refunded or repaid, shall be calculated by
13 utilizing the effective interest rate of the refunding or repayment
14 bonds, notes or other obligations, which shall be that rate arrived at
15 by doubling the semi-annual interest rate (compounded semi-annually)
16 necessary to discount the debt service payments on the refunding or
17 repayment bonds, notes or other obligations from the payment dates ther-
18 eof to the date of issue of the refunding or repayment bonds, notes or
19 other obligations and to the price bid including estimated accrued
20 interest or proceeds received by the authority including estimated
21 accrued interest from the sale thereof. Such bonds, other than bonds
22 issued to refund outstanding bonds, shall be scheduled to mature over a
23 term not to exceed the average useful life, as certified by the facili-
24 ties development corporation, of the projects for which the bonds are
25 issued, and in any case shall not exceed thirty years and the maximum
26 maturity of notes or any renewals thereof shall not exceed five years
27 from the date of the original issue of such notes. Notwithstanding the
28 provisions of this section, the agency shall have the power and is here-
43 12331-02-0
1 by authorized to issue mental health services facilities improvement
2 bonds and/or mental health services facilities improvement notes to
3 refund outstanding mental hygiene improvement bonds authorized to be
4 issued pursuant to the provisions of section Õforty-seven-bå 47-b of the
5 private housing finance law and the amount of bonds issued or outstand-
6 ing for such purposes shall not be included for purposes of determining
7 the amount of bonds issued pursuant to this section. The director of
8 the budget shall allocate the aggregate principal authorized to be
9 issued by the agency among the office of mental health, office of mental
10 retardation and developmental disabilities, and the office of alcoholism
11 and substance abuse services, in consultation with their respective
12 commissioners to finance bondable Õappropriationå appropriations previ-
13 ously approved by the legislature.
14 § 29. Paragraph d of subdivision 6 of section 9-a of section 1 of
15 chapter 392 of the laws of 1973, constituting the New York state medical
16 care facilities finance agency act, as amended by chapter 203 of the
17 laws of 1990, is amended to read as follows:
18 d. The cost of design, construction, acquisition, reconstruction,
19 rehabilitation, environmental remediation, demolition or improvement of
20 facilities undertaken by the agency pursuant to this act may include the
21 cost of acquisition of any real property, interest in real property and
22 improvements leased or conveyed to the agency in accordance with subdi-
23 vision 1 of this section and the cost of the original furnishings,
24 equipment, machinery and apparatus determined by the responsible public
25 corporation or officer to be needed to furnish and equip such facilities
26 upon the completion of work. The agency shall have power to acquire or
27 lease and to hold real property, any interest in real property and
28 improvements required for the design, construction, acquisition, recon-
44 12331-02-0
1 struction, rehabilitation, environmental remediation, demolition or
2 improvement of facilities undertaken by the agency pursuant to this act
3 and to provide the original furnishings, equipment, machinery and appa-
4 ratus determined by the responsible public corporation or officer to be
5 needed to furnish and equip such facilities upon the completion of work
6 and to issue its bonds and notes to provide sufficient funds to pay or
7 refinance the cost thereof.
8 § 30. Subparagraph (ii) of paragraph f of subdivision 6 of section 9-a
9 of section 1 of chapter 392 of the laws of 1973, constituting the New
10 York state medical care facilities finance agency act, as amended by
11 chapter 203 of the laws of 1990, is amended to read as follows:
12 (ii) Subject to such agreements with third parties as may then exist,
13 the facilities development corporation is hereby authorized and
14 empowered to enter into leases, subleases, loans and other financing
15 agreements with the agency with respect to any mental hygiene facility
16 described in subparagraph (i) of this paragraph, and the real property
17 or any interest in real property upon which such a facility is or may be
18 located, in accordance with the provisions of subdivision 4 of section 9
19 of the facilities development corporation act and the provisions of
20 subdivisions 1 through 5 of this section; and the agency is hereby
21 authorized and empowered to accept any lease or conveyance of any such
22 mental hygiene facility, and the real property or any interest in real
23 property upon which such a facility is or may be located, to acquire,
24 construct, reconstruct, rehabilitate, environmentally remediate, demol-
25 ish or improve any such facility, and to issue bonds and notes to
26 provide sufficient funds therefor in accordance with the provisions of
27 this section.
45 12331-02-0
1 § 31. Paragraph a of subdivision 4 of section 9 of section 1 of chap-
2 ter 359 of the laws of 1968, constituting the facilities development
3 corporation act, as amended by chapter 90 of the laws of 1989, is
4 amended to read as follows:
5 a. Upon certification by the director of the budget of the availabili-
6 ty of required appropriation authority, the corporation, or any succes-
7 sor agency, is hereby authorized and empowered to enter into leases,
8 subleases, loans and other financing agreements with the state housing
9 finance agency and/or the state medical care facilities finance agency,
10 and to enter into such amendments thereof as the directors of the corpo-
11 ration, or any successor agency, may deem necessary or desirable, which
12 shall provide for (i) the financing or refinancing of or the design,
13 construction, acquisition, reconstruction, rehabilitation, environmental
14 remediation, demolition or improvement of one or more mental hygiene
15 facilities or for the refinancing of any such facilities for which bonds
16 have previously been issued and are outstanding, and the purchase or
17 acquisition of the original furnishings, equipment, machinery and appa-
18 ratus to be used in such facilities upon the completion of work, (ii)
19 the leasing to the state housing finance agency or the state medical
20 care facilities finance agency of all or any portion of one or more
21 existing mental hygiene facilities and one or more mental hygiene facil-
22 ities to be designed, constructed, acquired, reconstructed, rehabili-
23 tated, environmentally remediated, demolished or improved, or of real
24 property related to the work to be done, including real property
25 originally acquired by the appropriate commissioner or director of the
26 department in the name of the state pursuant to article Õseventy-oneå 71
27 of the mental hygiene law, (iii) the subleasing of such facilities and
28 property by the corporation upon completion of design, construction,
46 12331-02-0
1 acquisition, reconstruction, rehabilitation, environmental remediation,
2 demolition or improvement, such leases, subleases, loans or other
3 financing agreements to be upon such other terms and conditions as may
4 be agreed upon, including terms and conditions relating to length of
5 term, maintenance and repair of mental hygiene facilities during any
6 such term, and the annual rentals to be paid for the use of such facili-
7 ties, property, furnishings, equipment, machinery and apparatus, and
8 (iv) the receipt and disposition, including loans to voluntary agencies,
9 of proceeds of mental health service facilities bonds or notes issued
10 pursuant to section Õnine-aå 9-A of the New York state medical care
11 facilities finance agency act. For purposes of the design, construction,
12 acquisition, reconstruction, rehabilitation, environmental remediation,
13 demolition or improvement work required by the terms of any such lease,
14 sublease or agreement, the corporation shall act as agent for the state
15 housing finance agency or the state medical care facilities finance
16 agency. In the event that the corporation enters into an agreement for
17 the financing of any of the aforementioned facilities with the state
18 housing finance agency or the state medical care facilities finance
19 agency, or in the event that the corporation enters into an agreement
20 for the financing or refinancing of any of the aforementioned facilities
21 with one or more voluntary agencies, it shall act on its own behalf and
22 not as agent. The appropriate commissioner or director of the department
23 on behalf of the department shall approve any such lease, sublease, loan
24 or other financing agreement and shall be a party thereto. All such
25 leases, subleases, loans or other financing agreements shall be approved
26 prior to execution by no less than three directors of the corporation.
47 12331-02-0
1 § 32. Subdivision 9 of section 41.03 of the mental hygiene law, as
2 amended by chapter 90 of the laws of 1989, is amended to read as
3 follows:
4 9. "capital costs" means the costs of a local government, a voluntary
5 agency, or the facilities development corporation with respect to the
6 acquisition of real property estates, interests, and cooperative inter-
7 ests in realty, their design, construction, reconstruction, rehabili-
8 tation, environmental remediation, demolition and improvement, original
9 furnishings and equipment, site development, and appurtenances of a
10 local facility. Capital costs do not include any of the foregoing costs
11 paid under provisions of law other than this chapter.
12 § 33. Any capital funds appropriated or reappropriated to the office
13 of mental health, the office of mental retardation and developmental
14 disabilities, and the office of alcoholism and substance abuse services
15 may be used for personal service, nonpersonal service, indirect cost
16 recovery, or fringe benefit costs associated with New York state employ-
17 ees assigned to capital projects for the purpose of designing,
18 constructing, acquiring, reconstructing, rehabilitating, environmentally
19 remediating, demolishing or improving mental hygiene facilities and
20 mental health services facilities.
21 § 34. Notwithstanding any other inconsistent provision of law, and
22 subject to the approval of the director of the budget, capital funds
23 appropriated or reappropriated to the office of mental health, office of
24 mental retardation and developmental disabilities, and the office of
25 alcoholism and substance abuse services may be paid to the dormitory
26 authority of the state of New York to cover costs associated with capi-
27 tal projects. In addition, the office of the state comptroller shall
48 12331-02-0
1 refund appropriations at the request of the dormitory authority of the
2 state of New York for amounts paid in excess of actual costs.
3 § 35. Paragraph (a) of subdivision 2 of section 47-e of the private
4 housing finance law, as amended by section 18 of part F of chapter 405
5 of the laws of 1999, is amended to read as follows:
6 (a) In order to enhance and encourage the promotion of housing
7 programs and thereby achieve the stated purposes and objectives of such
8 housing programs, the agency shall have the power and is hereby author-
9 ized from time to time to issue negotiable housing program bonds and
10 notes in such principal amount as shall be necessary to provide suffi-
11 cient funds for the repayment of amounts disbursed pursuant to a chapter
12 of the laws of Õnineteen hundred ninety-nineå two thousand making capi-
13 tal appropriations or reappropriations for the purposes of the housing
14 program, provided, however, that the agency may issue such bonds and
15 notes in an aggregate principal amount not exceeding one billion Õoneå
16 two hundred ten million dollars, plus a principal amount of bonds issued
17 to fund the debt service reserve fund in accordance with the debt
18 service reserve fund requirement established by the agency and to fund
19 any other reserves that the agency reasonably deems necessary for the
20 security or marketability of such bonds and to provide for the payment
21 of fees and other charges and expenses, including underwriters'
22 discount, trustee and rating agency fees, bond insurance, credit
23 enhancement and liquidity enhancement related to the issuance of such
24 bonds and notes. No reserve fund securing the housing program bonds
25 shall be entitled or eligible to receive state funds apportioned or
26 appropriated to maintain or restore such reserve fund at or to a partic-
27 ular level, except to the extent of any deficiency resulting directly or
28 indirectly from a failure of the state to appropriate or pay the agreed
49 12331-02-0
1 amount under any of the contracts provided for in subdivision four of
2 this section.
3 § 36. Paragraph (a) of subdivision 5 of section 47-e of the private
4 housing finance law, as amended by section 19 of part F of chapter 405
5 of the laws of 1999, is amended to read as follows:
6 (a) Upon the issuance of housing program bonds or notes, the agency
7 shall apply such amount of the proceeds thereof as shall be designated
8 and specified in the bond or note resolution or resolutions authorizing
9 the issuance of such bonds or notes to the specific funds and/or
10 accounts of one or more housing programs. The bond resolution or resol-
11 utions authorizing the issuance of such bonds or notes shall only allo-
12 cate net proceeds of bonds or notes to a particular fund or account of a
13 housing program if the legislature has authorized in a chapter of the
14 laws of Õnineteen hundred ninety-nineå two thousand an advance to such
15 fund or account and the amount of such bond or note proceeds so allo-
16 cated to such fund or account shall not exceed the total amount so
17 authorized to be advanced. Such proceeds shall be disbursed to such a
18 fund or account in accordance with such allocation only for application
19 to the repayment of advances previously or thereupon made and not previ-
20 ously repaid. Such proceeds may not be transferred from an entity
21 authorized to administer a housing program to the state or a fund of the
22 state except in repayment of such advances. Except in the case of
23 refunding bonds or notes authorized hereunder, any net proceeds not so
24 allocated or disbursed shall be utilized first to pay debt service on
25 the applicable bonds or notes in the current or the succeeding fiscal
26 year and second to the redemption of such bonds, provided that such
27 application may be adjusted to comply with applicable federal law as to
50 12331-02-0
1 federal tax exemption. For purposes of this paragraph, earnings from the
2 investment of net proceeds shall be treated as net proceeds.
3 § 37. Section 17 of part D of chapter 389 of the laws of 1997, relat-
4 ing to the financing of the correctional facilities improvement fund and
5 the youth facility improvement fund, as amended by section 16 of part F
6 of chapter 405 of the laws of 1999, is amended to read as follows:
7 § 17. Youth facilities bond program. 1. Notwithstanding the provisions
8 of section 18 of chapter 174 of the laws of 1968, the New York state
9 urban development corporation is hereby authorized to issue bonds, notes
10 and other obligations in an aggregate principal amount not to exceed
11 Õtwo hundred thirty-five million eight hundred fifteen thousand dollars
12 ($235,815,000)å three hundred twenty-eight million five hundred fifteen
13 thousand dollars ($328,515,000), which authorization increases the
14 aggregate principal amount of bonds, notes and other obligations author-
15 ized by section 40 of chapter 309 of the laws of 1996, and shall include
16 all bonds, notes and other obligations issued pursuant to chapter 211 of
17 the laws of 1990, as amended or supplemented. The proceeds of such
18 bonds, notes or other obligations shall be paid to the state, for depos-
19 it in the youth facilities improvement fund, to pay for all or any
20 portion of the amount or amounts paid by the state from appropriations
21 or reappropriations made to the office of children and family services
22 from the youth facilities improvement fund for capital projects. The
23 aggregate amount of bonds, notes and other obligations authorized to be
24 issued pursuant to this section shall exclude bonds, notes or other
25 obligations issued to refund or otherwise repay bonds, notes or other
26 obligations theretofore issued, the proceeds of which were paid to the
27 state for all or a portion of the amounts expended by the state from
28 appropriations or reappropriations made to the office of children and
51 12331-02-0
1 family services; provided, however, that upon any such refunding or
2 repayment the total aggregate principal amount of outstanding bonds,
3 notes or other obligations may be greater than Õtwo hundred thirty-five
4 million eight hundred fifteen thousand dollars ($235,815,000)å three
5 hundred twenty-eight million five hundred fifteen thousand dollars
6 ($328,515,000), only if the present value of the aggregate debt service
7 of the refunding or repayment bonds, notes or other obligations to be
8 issued shall not exceed the present value of the aggregate debt service
9 of the bonds, notes or other obligations so to be refunded or repaid.
10 For the purposes hereof, the present value of the aggregate debt service
11 of the refunding or repayment bonds, notes or other obligations and of
12 the aggregate debt service of the bonds, notes or other obligations so
13 refunded or repaid, shall be calculated by utilizing the effective
14 interest rate of the refunding or repayment bonds, notes or other obli-
15 gations, which shall be that rate arrived at by doubling the semi-annual
16 interest rate (compounded semi-annually) necessary to discount the debt
17 service payments on the refunding or repayment bonds, notes or other
18 obligations from the payment dates thereof to the date of issue of the
19 refunding or repayment bonds, notes or other obligations and to the
20 price bid including estimated accrued interest or proceeds received by
21 the corporation including estimated accrued interest from the sale ther-
22 eof.
23 2. For purposes of this section, the following provisions shall apply
24 to powers in connection with financing and refinancing of the design,
25 acquisition, construction, reconstruction, rehabilitation and improve-
26 ment of facilities for the office of children and family services by the
27 New York state urban development corporation.
52 12331-02-0
1 (a) The New York state office of general services shall be responsible
2 for the undertaking of studies, planning, site acquisition, design,
3 construction, reconstruction, renovation and development of youth facil-
4 ities, including the making of any purchases therefor, on behalf of the
5 New York state office of children and family services.
6 (b) Notwithstanding the provisions of any general or special law to
7 the contrary, and subject to the making of annual appropriations there-
8 for by the legislature, in order to assist the New York state urban
9 development corporation in the financing and refinancing of the design,
10 acquisition, construction, reconstruction, rehabilitation and improve-
11 ment of facilities for the office of children and family services, the
12 director of the budget is authorized in any state fiscal year to enter
13 into one or more service contracts, none of which shall exceed thirty
14 years in duration, with the New York state urban development corpo-
15 ration, upon such terms as the director of the budget and the New York
16 state urban development corporation agree;
17 (c) Any service contract entered into pursuant to paragraph (a) of
18 this subdivision or any payments made or to be made thereunder may be
19 assigned and pledged by the New York state urban development corporation
20 as security for its bonds and notes;
21 (d) Any such service contract shall provide that the obligation of the
22 director of the budget or of the state to fund or to pay the amounts
23 therein provided for shall not constitute a debt of the state within the
24 meaning of any constitutional or statutory provision in the event the
25 New York state urban development corporation assigns or pledges service
26 contract payments as security for its bonds or notes and shall be deemed
27 executory only to the extent moneys are available and that no liability
28 shall be incurred by the state beyond the moneys available for the
53 12331-02-0
1 purpose, and that such obligation is subject to annual appropriation by
2 the legislature;
3 (e) Any service contract or contracts for projects entered into pursu-
4 ant to this subdivision shall provide for state commitments to provide
5 annually to the New York state urban development corporation a sum or
6 sums, upon such terms and conditions as shall be deemed appropriate by
7 the director of the budget, to fund, or to fund the debt service
8 requirements of, any bonds or notes, including bonds issued to fund any
9 required debt service reserve requirement for bonds, of the New York
10 state urban development corporation issued to pay to the state all or a
11 portion of the amounts expended by the state from appropriations or
12 reappropriations made to the office of children and family services for
13 capital projects.
14 3. (a) The provisions of section 17 of the public officers law shall
15 apply to directors, officers, employees and agents of the New York state
16 urban development corporation in connection with any and all claims,
17 demands, suits, actions or proceedings which may be made or brought
18 against any of them arising out of any determinations made or actions
19 taken or omitted to be taken in compliance with any obligations under or
20 pursuant to the terms of this section. The provisions of this subdivi-
21 sion shall be in addition to and shall not supplant any indemnification
22 or other benefits heretofore or hereafter conferred upon directors,
23 officers and employees of the corporation by subdivision 3-a of section
24 4 of chapter 174 of the laws of 1968, as amended by action of such
25 corporation, or otherwise.
26 (b) The state shall and hereby agrees to and does indemnify and save
27 harmless the New York state urban development corporation from and
28 against any and all liability, loss, damage, interest, judgments and
54 12331-02-0
1 liens, and any and all costs and expenses (including, but not limited
2 to, counsel fees and disbursements) arising out of or incurred in
3 connection with any and all claims, demands, suits, actions or
4 proceedings which may be made or brought against such corporation (1)
5 arising out of any determinations made or actions taken or omitted to be
6 taken or compliance with any obligations under or pursuant to the terms
7 of this act, or (2) for or in relation to any injuries, including death
8 at any time resulting therefrom, sustained by a person or persons, or on
9 account of damage to or loss of property, through theft or otherwise, to
10 the extent the same arises out of or in consequence of the design,
11 acquisition, construction, reconstruction, rehabilitation and improve-
12 ment of facilities for the office of children and family services,
13 including the furnishing and equipping thereof, but in each such case
14 only to the extent that such corporation is not otherwise compensated
15 therefor by insurance.
16 § 38. Section 97-rrr of the state finance law, as amended by section
17 25 of part F of chapter 405 of the laws of 1999, is amended to read as
18 follows:
19 § 97-rrr. Debt reduction reserve fund. 1. There is hereby established
20 in the joint custody of the comptroller and the commissioner of taxation
21 and finance a fund to be known as the debt reduction reserve fund. Such
22 fund shall be established Õwithin the general fund and any monies depos-
23 ited into such fund shall be kept separate and apart from other monies
24 in the general fundå as a capital projects fund.
25 2. Such fund shall consist of all monies credited or transferred ther-
26 eto from the general fund or from any other fund or sources pursuant to
27 law.
55 12331-02-0
1 3. The monies in such fund, following appropriation by the legislature
2 and allocation by the director of the budget, shall be available for the
3 following purposes:
4 (a) for the payment of principal, interest, and related expenses on
5 general obligation bonds, lease purchase payments, or special contractu-
6 al obligation payments, or for the purposes of retiring or defeasing
7 bonds previously issued, including any accrued interest thereon, for any
8 state-supported bonding program or programs, and;
9 (b) for the funding of capital projects, equipment acquisitions, or
10 similar expenses which have been authorized by law to be financed
11 through the issuance of bonds, notes, or other obligations.
12 § 39. Notwithstanding the provisions of section 171-a of the tax law
13 or any other provisions of law to the contrary, during the fiscal year
14 beginning April 1, 2000, the state comptroller is hereby authorized and
15 directed to deposit to the fund created pursuant to section 97-rrr of
16 the state finance law (the debt reduction reserve fund) from amounts
17 collected pursuant to article 22 of the tax law and pursuant to a sched-
18 ule submitted by the director of the budget, up to $250,000,000, as may
19 be certified in such schedule as necessary to meet the purposes of such
20 fund for the fiscal year beginning April 1, 2000.
21 § 40. Notwithstanding any law to the contrary, and in accordance with
22 section 4 of the state finance law, the state comptroller is hereby
23 authorized and directed to transfer, upon request of the director of the
24 budget, on or before March 31, 2001, up to $250,000,000 from the tobacco
25 settlement fund to the debt reduction reserve fund.
26 § 41. Notwithstanding any law to the contrary, and in accordance with
27 section 4 of the state finance law, the state comptroller is hereby
28 authorized and directed to transfer, upon request of the director of the
56 12331-02-0
1 budget, on or before March 31, 2001, up to $92,000,000 from the tobacco
2 settlement fund to the tobacco transfer fund, medical assistance
3 account.
4 § 42. Notwithstanding any provision of law to the contrary and
5 subject to the availability of appropriations, the commissioner of the
6 division of housing and community renewal is authorized to continue to
7 make periodic subsidy payments pursuant to the public housing law for a
8 period of years not exceeding the life of the project assisted by such
9 subsidy and in any event for not more than 60 years.
10 § 43. This act shall take effect immediately and shall be deemed to
11 have been in full force and effect on and after April 1, 2000, provided,
12 however, that sections one through four, eleven through twenty, and
13 thirty-nine through forty-two of this act shall be deemed in full force
14 and effect through March 31, 2001 when upon such date such sections
15 shall expire and be deemed repealed.
16 § 2. Severability clause. If any clause, sentence, paragraph, subdivi-
17 sion, section or part of this act shall be adjudged by any court of
18 competent jurisdiction to be invalid, such judgment shall not affect,
19 impair, or invalidate the remainder thereof, but shall be confined in
20 its operation to the clause, sentence, paragraph, subdivision, section
21 or part thereof directly involved in the controversy in which such judg-
22 ment shall have been rendered. It is hereby declared to be the intent of
23 the legislature that this act would have been enacted even if such
24 invalid provisions had not been included herein.
25 § 3. This act shall take effect immediately provided, however, that
26 the applicable effective date of Parts A through D of this act shall be
27 as specifically set forth in the last section of such Parts.