# New York A 8416: Extends certain provisions relating to the sale, issuance and refund of bonds and notes of New York city New York A 8416, Extends certain provisions relating to the sale, issuance and refund of bonds and notes of New York city, is a 2025-2026 Regular Session House bill sponsored by Patrick Burke (Democratic); status signed, last action 2025-06-18 (SIGNED CHAP.147) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/NY-A8416-2025 - 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 8416 - State: New York - Session: 2025-2026 Regular Session - Title: Extends certain provisions relating to the sale, issuance and refund of bonds and notes of New York city - Status: signed - Chamber: House - Introduced: 2025-05-15 - Last action: 2025-06-18, SIGNED CHAP.147 - Sponsor: Patrick Burke (Democratic) - Cosponsors: 0 - Subjects: CITIES, WAYS AND MEANS, RULES, CITIES 1 - Touches household money: no - Roll calls: 2 (196 yes, 9 no in all) - Economic provisions PRIA read: 4 ## Summary No summary available. ## Bill overview: provisions PRIA read - New York City keeps broader borrowing options: benefit, low. The law extends New York City’s special bond and note marketing authority through June 30, 2026. State Comptroller approval and existing private-sale limits still apply. Through that date, the city can sell bonds privately to the Municipal Assistance Corporation or other approved buyers. Other buye… - New York City keeps interest-rate tools: benefit, low. New York City keeps authority to issue qualifying variable-rate bonds and notes through July 15, 2026. The city finance board must find that the borrowing serves the city’s interest. Rates must follow a set formula or procedure, and each bond or note must state a maximum rate. Total principal remai… - State pledge protects New York City bondholders: benefit, low. Agreements with holders or guarantors of covered debt issued before July 1, 2026 must include New York State’s protective pledge. The state promises not to substantially weaken protected city debt controls during a control period. These include financial-plan, contract, and borrowing reviews; debt-… - City refinancing lowers payments, changes investor protections: mixed, low. Through June 30, 2026, New York City can exchange outstanding bonds for new bonds with lower average yearly debt payments. Under this option, the new interest rate does not have to be lower. Average yearly payments equal remaining principal and interest divided by the remaining years to maturity. T… ## Sponsors and cosponsors - Sponsor: Patrick Burke (Democratic), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-06-09 | Senate | FLOOR Vote | pass | 62 | 0 | | | 2025-05-29 | House | Assembly floor vote | pass | 134 | 9 | | ## Actions (15) - 2025-06-18: SIGNED CHAP.147 (House) - 2025-06-18: DELIVERED TO GOVERNOR (House) - 2025-06-09: RETURNED TO ASSEMBLY (Senate) - 2025-06-09: PASSED SENATE (Senate) - 2025-06-09: 3RD READING CAL.1583 (Senate) - 2025-06-09: SUBSTITUTED FOR S8245 (Senate) - 2025-05-29: REFERRED TO CITIES 1 (Senate) - 2025-05-29: DELIVERED TO SENATE (House) - 2025-05-29: PASSED ASSEMBLY (House) - 2025-05-29: ORDERED TO THIRD READING RULES CAL.360 (House) - 2025-05-29: RULES REPORT CAL.360 (House) - 2025-05-29: REPORTED (House) - 2025-05-27: REPORTED REFERRED TO RULES (House) - 2025-05-20: REPORTED REFERRED TO WAYS AND MEANS (House) - 2025-05-15: REFERRED TO CITIES (House) ## Bill text - Original, 2025-05-15: [PDF](https://legislation.nysenate.gov/pdf/bills/2025/A8416) ## 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/A8416) ## 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-A8416-2025 (as of 2026-10-19).