New York S 3736: Relates to extending the exemption from filing requirements only with respect to rates and policy forms to out of state businesses

Bill Text

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S03736 Summary:

BILL NOS03736 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORCOMRIE

&nbsp

COSPNSRWEBB

&nbsp

MLTSPNSR

&nbsp

Amd §51, Pub Auth L

&nbsp

Relates to project applications and advisory opinions of the public authorities control board.

Go to top S03736 Actions:

BILL NOS03736 

&nbsp

01/29/2025REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

03/25/20251ST REPORT CAL.598

03/26/20252ND REPORT CAL.

03/27/2025ADVANCED TO THIRD READING 

04/02/2025PASSED SENATE

04/02/2025DELIVERED TO ASSEMBLY

04/02/2025referred to corporations, authorities and commissions

01/07/2026died in assembly

01/07/2026returned to senate

01/07/2026REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

01/20/20261ST REPORT CAL.122

01/21/20262ND REPORT CAL.

01/27/2026ADVANCED TO THIRD READING 

03/16/2026PASSED SENATE

03/16/2026DELIVERED TO ASSEMBLY

03/16/2026referred to corporations, authorities and commissions

Go to topS03736 Committee&nbspVotes:

Go to topS03736 Floor&nbspVotes:

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

Go to topS03736 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3736

 2025-2026 Regular Sessions

 IN SENATE

 January 29, 2025
 ___________

 Introduced by Sen. COMRIE -- read twice and ordered printed, and when
 printed to be committed to the Committee on Corporations, Authorities
 and Commissions

 AN ACT to amend the public authorities law, in relation to project
 applications and advisory opinions of the public authorities control
 board

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

 1 Section 1. Subdivisions 2, 3, 3-a, 4, 5 and 6 of section 51 of the
 2 public authorities law are renumbered subdivisions 6, 7, 8, 9, 10 and 11
 3 and four new subdivisions 2, 3, 4 and 5 are added to read as follows:
 4 2. Any application made concerning a proposed project involving a loan
 5 shall include, expressly and in writing, the terms, conditions and dates
 6 of the repayment of state appropriations authorized by law pursuant to a
 7 repayment agreement and shall include a copy of the proposed repayment
 8 agreement. In any such application the terms and conditions, provided
 9 expressly and in writing, shall include, but not be limited to:
 10 a. Any job retention or job creation requirements and the terms of any
 11 such requirements, where such loan would be conditional on any job
 12 retention or job creation requirements, a description of any contractual
 13 clawback provisions or other remedies in the event such requirements are
 14 not met;
 15 b. Rate of interest, for fixed rate agreements;
 16 c. All terms necessary to determine and calculate interest for non-
 17 fixed rate loan agreements;
 18 d. Repayment date, or dates, and associated amounts, for the return of
 19 loan principal;
 20 e. Any conditions or restrictions associated with the loan, the terms
 21 of such conditions or restrictions, and any contractual remedy if such
 22 conditions or restrictions in the event of a breach of such terms;
 23 f. Any security provision and a description of such provisions; and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05340-01-5

 S. 3736 2

 1 g. Any guarantee associated with such loan.
 2 3. Any application made concerning a proposed project involving a
 3 grant shall include, expressly and in writing, the terms and conditions
 4 of state appropriations authorized by law pursuant to a grant disburse-
 5 ment agreement and pursuant to any other agreements which would relate
 6 to such grant. In any such application the terms and conditions,
 7 provided expressly and in writing, shall include, but not be limited to:
 8 a. Any job retention or job creation requirements and the terms of any
 9 such requirements, where such loan would be conditional on any job
 10 retention or job creation requirements, a description of any contractual
 11 clawback provisions or other remedies in the event such requirements are
 12 not met;
 13 b. A full description of the project and how the grant funds would be
 14 used by the grantee;
 15 c. Where such project would involve the purchase of real property, a
 16 description of who would own the property;
 17 d. Total c