Bill Text: NY A05764 | 2017-2018 | General Assembly | Introduced

New York Assembly Bill 5764 (Prior Session Legislation)

Introduced

Bill Title: Relates to rental payments from the NYC water board; requires the general fund of NYC to provide to the local water fund an amount equal to the amount requested by NYC pursuant to the base rental sum of money pursuant to the lease terms; requires fifty percent of these sums shall be used to provide rebates to residential water and sewer accounts and fifty percent to pay principal and interest on certain outstanding debt.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2017-02-15 - referred to cities [A05764 Detail]

Download: New_York-2017-A05764-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          5764
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 15, 2017
                                       ___________
        Introduced by M. of A. GJONAJ -- read once and referred to the Committee
          on Cities
        AN  ACT  to  amend  the  administrative code of the city of New York, in
          relation to rental payments from the New York city water board
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. The administrative code of the city of New York is amended
     2  by adding a new section 5-511 to read as follows:
     3    § 5-511 Rental payments from the New York city water board.   Notwith-
     4  standing  any  request of the city of New York for a rental payment from
     5  the New York city water board established pursuant to section one  thou-
     6  sand  forty-six  of  the public authorities law, the general fund of the
     7  city of New York shall provide to  the  local  water  fund,  established
     8  pursuant  to subdivision two of section one thousand forty-five-j of the
     9  public authorities law and the lease agreement between the city  of  New
    10  York  and  the  New York city water board, an amount equal to the amount
    11  requested by the city of New York pursuant to the  base  rental  sum  of
    12  money pursuant to the terms of such lease. Fifty percent of such sums of
    13  monies  shall be used to provide rebates across the board to residential
    14  water and sewer accounts and fifty percent to pay principal and interest
    15  on outstanding debt issued by the  city  of  New  York  before  nineteen
    16  hundred  eighty-five for capital projects in the water and sewer system,
    17  until such debt is paid, whereupon such sum shall  be  used  to  provide
    18  rebates across the board to residential water and sewer accounts.
    19    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05063-01-7