# New York A 3002: DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND New York A 3002, DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND, is a 2025-2026 Regular Session House bill sponsored by Budget; status signed, last action 2025-05-20 (SIGNED CHAP.52) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/NY-A3002-2025 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: New York A 3002 - State: New York - Session: 2025-2026 Regular Session - Title: DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND - Status: signed - Chamber: House - Introduced: 2025-01-22 - Last action: 2025-05-20, SIGNED CHAP.52 - Sponsor: Budget - Cosponsors: 0 - Subjects: WAYS AND MEANS, RULES, FINANCE - Touches household money: no - Roll calls: 2 (163 yes, 45 no in all) - Economic provisions PRIA read: 8 ## Summary No summary available. ## Bill overview: provisions PRIA read - New York funds state debt payments: benefit, high. For the budget year starting April 1, 2025, New York provides $405 million for general obligation bond payments and costs. Those bonds support transportation, environmental, park, and school purposes. Another $851 million covers state-supported debt: $800 million for debt payments, $50 million for… - State pays tax-backed bonds and notes: benefit, high. For the budget year starting April 1, 2025, New York funds payments on income-tax-backed and sales-tax-backed debt. The income-tax-backed debt gets $7.05 billion: $4 billion for debt payments, $3 billion for subordinate notes, and $50 million for costs. Sales-tax-backed bonds get $1.503 billion: $1… - State funds debt reduction or capital projects: benefit, medium. For the budget year starting April 1, 2025, the law provides $500 million from the Debt Reduction Reserve Fund. The money can retire previously issued bonds, set aside funds to pay them off, and cover related costs. At the state budget director's request, it can instead move to designated capital p… - State protects tax-free interest for bondholders: benefit, medium. For the budget year starting April 1, 2025, New York provides $20 million solely for rebates to the federal government. These rebates preserve tax-free interest on state obligations issued under sections 55 and 57 of the State Finance Law. The law also provides up to $225 million from the General F… - State funds health facility debt payments: benefit, low. For the budget year starting April 1, 2025, New York provides $26 million from health-related income funds. The money covers Department of Health agreements with the Dormitory Authority and related facility costs. Debt payments use up to $1 million in New York City Veterans' Home operating revenue… - State funds highway and bridge debt: benefit, low. For the budget year starting April 1, 2025, New York provides $6 million for highway and bridge financing obligations. This includes $5 million for debt payments and $1 million for related costs. The bonds or notes must be required under cooperative agreements covered by section 10-e of the New Yor… - State pays debt for specialized school facilities: benefit, low. For the budget year starting April 1, 2025, New York provides $17 million for school facility contracts with the Dormitory Authority. This includes $15 million for debt payments and $2 million for related and capital costs. Covered schools include participating special act districts and state-suppo… - State pays university and Gateway obligations: benefit, low. For the budget year starting April 1, 2025, New York provides $67 million for university and Gateway Development Commission obligations. This includes $1 million for State University facility bonds and $21 million for City University senior and community colleges. It also includes $10 million for G… ## Sponsors and cosponsors - Sponsor: Budget ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-03-27 | House | Assembly floor vote | pass | 112 | 35 | | | 2025-03-27 | Senate | FLOOR Vote | pass | 51 | 10 | | ## Actions (14) - 2025-05-20: SIGNED CHAP.52 (House) - 2025-05-08: DELIVERED TO GOVERNOR (House) - 2025-03-27: RETURNED TO ASSEMBLY (Senate) - 2025-03-27: PASSED SENATE (Senate) - 2025-03-27: 3RD READING CAL.619 (Senate) - 2025-03-27: SUBSTITUTED FOR S3002 (Senate) - 2025-03-27: REFERRED TO FINANCE (Senate) - 2025-03-27: DELIVERED TO SENATE (House) - 2025-03-27: PASSED ASSEMBLY (House) - 2025-03-27: ORDERED TO THIRD READING RULES CAL.118 (House) - 2025-03-27: RULES REPORT CAL.118 (House) - 2025-03-27: REPORTED (House) - 2025-03-27: REPORTED REFERRED TO RULES (House) - 2025-01-22: REFERRED TO WAYS AND MEANS (House) ## Bill text - Original, 2025-01-22: [PDF](https://legislation.nysenate.gov/pdf/bills/2025/A3002) ## Related bills - S 10643: Relates to labor peace agreements and the cannabis industry wage board; repealer (signed) - S 9051: Prohibits artificial intelligence companions from using features which are considered unsafe for minors (signed) - A 5175: Requires certain security features and warning labels on baby monitors (signed) - A 11443: Relates to commercial food fish licenses (signed) - A 10343: Relates to fees and expenses in unemployment insurance proceedings; extending effectiveness (signed) - A 10052: Extends the effectiveness of the authority of the town of Red Hook to impose real estate transfer taxes and to deposit revenue from such taxes into a community… (signed) ## Sources - [Original (PDF)](https://legislation.nysenate.gov/pdf/bills/2025/A3002) ## Related - [S 10643: Relates to labor peace agreements and the cannabis industry wage board; repealer](https://policyrisk.com/state-bill/NY-S10643-2025) - [S 9051: Prohibits artificial intelligence companions from using features which are cons…](https://policyrisk.com/state-bill/NY-S9051-2025) - [A 5175: Requires certain security features and warning labels on baby monitors](https://policyrisk.com/state-bill/NY-A5175-2025) - [A 11443: Relates to commercial food fish licenses](https://policyrisk.com/state-bill/NY-A11443-2025) - [A 10343: Relates to fees and expenses in unemployment insurance proceedings; extending e…](https://policyrisk.com/state-bill/NY-A10343-2025) - [A 10052: Extends the effectiveness of the authority of the town of Red Hook to impose re…](https://policyrisk.com/state-bill/NY-A10052-2025) - [New York bills](https://policyrisk.com/states/new-york/bills) - [New York state hub](https://policyrisk.com/states/new-york) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/NY-A3002-2025 (as of 2026-10-19).