Title PAB, Private Activity Bond 47/90

* § 1. Short title. This act shall be known and may be cited as the\n"private activity bond allocation act of 1990".\n* NB Repealed January 1, 1991\n

* § 10. Year end allocation recapture. On or before October first of\neach year, each state agency shall report to the director and each local\nagency and each other issuer shall report to the commissioner the amount\nof bonds subject to allocation under this act that will be is…

* § 11. Allocation carryforward. 1. No local agency or other issuer\nshall make a carryforward election utilizing any unused allocation\n(pursuant to section 146(f) of the code) without the prior approval of\nthe commissioner. Likewise no state agency shall make or file such an\…

* § 12. New York state bond allocation policy advisory panel.\n 1. There is hereby created a policy panel and process to provide\npolicy advice regarding the priorities for distribution of the statewide\nceiling.\n 2. The panel shall consist of five members, one designee being\n…

* § 13. Expiration and repeal of certain provisions. The provisions of\nsections one through twelve of this act shall expire and be deemed\nrepealed on January 1, 1991; except that the provisions of subdivision\neight of section twelve of this act shall expire and be deemed repe…

* § 14. Severability. If any clause, sentence, paragraph, section, or\npart of this act shall be adjudged by any court of competent\njurisdiction to be invalid, such judgment shall not affect, impair, or\ninvalidate the remainder thereof, but shall be confined in its operation\n…

* § 2. Definitions. As used in this act, unless the context requires\notherwise:\n 1. "Bonds" means bonds, notes or other obligations.\n 2. "Carryforward" means an amount of unused private activity bond\nceiling available to an issuer pursuant to an election filed with the\ninte…

* § 3. Local agency set-aside. A set-aside of statewide ceiling for\nlocal agencies for any calendar year shall be an amount which bears the\nsame ratio to one-third of the statewide ceiling as the population of\nthe jurisdiction of such local agency bears to the population of t…

* § 4. State agency set-aside. A set-aside of statewide ceiling for\nall state agencies for any calendar year shall be one-third of the\nstatewide ceiling. The director shall administer allocations of such\nset-aside to state agencies and may grant an allocation to any state\nag…

* § 5. Statewide bond reserve. One-third of the statewide ceiling is\nhereby set aside as a statewide bond reserve to be administered by the\ndirector.\n 1. Allocation of the statewide bond reserve among state agencies,\nlocal agencies and other issuers. The director shall trans…

* § 6. Access to employment opportunities. 1. All issuers shall\nrequire that any new employment opportunities created in connection with\nindustrial or manufacturing projects financed through the issuance of\nqualified small issue bonds shall be listed with the New York state\n…

* § 7. Overlapping jurisdictions. In a geographic area represented by\na county local agency and one or more sub-county local agencies, the\nallocation granted by section three of this act with respect to such\narea of overlapping jurisdiction shall be apportioned one-half to th…

* § 8. Ineligible local agencies. To the extent that any allocation of\nthe local agency set-aside would be made by this act to a local agency\nwhich is ineligible to receive such allocation under the code or under\nregulations interpreting the state volume ceiling provisions of…

* § 9. Municipal reallocation. The chief executive officer of any\npolitical subdivision or, if such political subdivision has no chief\nexecutive officer, the governing board of the political subdivision for\nthe benefit of which a local agency has been established, may withdra…