New York A 2319: Authorizes the New York city council to oversee the activities of the New York city housing authority

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A02319 Summary:

BILL NOA02319 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORMcDonald (MS)

&nbsp

COSPNSRWoerner, Stirpe

&nbsp

MLTSPNSRSayegh

&nbsp

Amd §3-a, Gen Muni L; amd §157, Pub Hous L; amd §16, St Fin L; amd §1, Chap 585 of 1939

&nbsp

Relates to interest rates on judgments.

Go to top A02319 Actions:

BILL NOA02319 

&nbsp

01/16/2025referred to judiciary

01/07/2026referred to judiciary

Go to topA02319 Committee&nbspVotes:

Go to topA02319 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA02319 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2319

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 16, 2025
 ___________

 Introduced by M. of A. McDONALD, WOERNER, STIRPE -- Multi-Sponsored by
 -- M. of A. SAYEGH -- read once and referred to the Committee on
 Judiciary

 AN ACT to amend the general municipal law, the public housing law, the
 state finance law and chapter 585 of the laws of 1939, relating to the
 rate of interest to be paid by certain public corporations upon judg-
 ments and accrued claims, in relation to interest rates on judgments

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivisions 1 and 2 of section 3-a of the general munici-
 2 pal law, subdivision 1 as amended by chapter 4 of the laws of 1991, and
 3 subdivision 2 as amended by chapter 777 of the laws of 1978, are amended
 4 to read as follows:
 5 1. Except as provided in subdivisions two, four and five of this
 6 section, the rate of interest to be paid by a municipal corporation upon
 7 any judgment or accrued claim against the municipal corporation shall
 8 [not exceed] be calculated at a rate equal to the weekly average one
 9 year constant maturity treasury yield, as published by the board of
 10 governors of the federal reserve system, for the calendar week preceding
 11 the date of the entry of the judgment awarding damages. In no event,
 12 however, shall an authority pay a rate of interest on any judgment or
 13 accrued claim exceeding nine per centum per annum.
 14 2. The rate of interest to be paid upon any judgment or accrued claim
 15 against the municipal corporation arising out of condemnation
 16 proceedings or action to recover damages for wrongful death shall [not
 17 exceed] be calculated at a rate equal to the weekly average one year
 18 constant maturity treasury yield, as published by the board of governors
 19 of the federal reserve system, for the calendar week preceding the date
 20 of the entry of the judgment awarding damages. In no event, however,
 21 shall an authority pay a rate of interest on any judgment or accrued
 22 claim exceeding six per centum per annum.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01563-01-5

 A. 2319 2

 1 § 2. Subdivision 5 of section 157 of the public housing law, as
 2 amended by chapter 681 of the laws of 1982, is amended to read as
 3 follows:
 4 5. The rate of interest to be paid by an authority upon any judgment
 5 or accrued claim against the authority shall [not exceed] be calculated
 6 at a rate equal to the weekly average one year constant maturity treas-
 7 ury yield, as published by the board of governors of the federal reserve
 8 system, for the calendar week preceding the date of the entry of the
 9 judgment awarding damages. In no event, however, shall an authority pay
 10 a rate of interest on any judgment or accrued claim exceeding nine per
 11 centum per annum.
 12 § 3. Section 16 of the state finance law, as amended by chapter 681 of
 13 the laws of 1982, is amended to read as follows:
 14 § 16. Rate of interest on judgments and accrued claims against the
 15 state. The rate of interest to be paid by the state upon any judgment
 16 or accrued claim against the state shall [not exceed] be calculated at a
 17 rate equal to the weekly average one year constant maturity treasury
 18 yield, as published by the board of governors of the federal reserve
 19 system, for the calendar week preceding the date of the entry of the
 20 judgment awarding damages. In no event, however, shall an authority pay
 21 a rate of interest on any judgment or accrued claim exceedi