New York A 9534: Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder

Bill Text

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A09534 Summary:

BILL NOA09534 

&nbsp

SAME ASSAME AS S00900

&nbsp

SPONSORSolages

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §58.00, Loc Fin L

&nbsp

Relates to the delivery of the good faith deposit following award of the bonds to the successful bidder; provides that a municipality, school district or district corporation may require that such deposit be made as a condition precedent to the consideration of a bid for the bonds.

Go to top A09534 Actions:

BILL NOA09534 

&nbsp

01/14/2026referred to local governments

05/27/2026reported referred to ways and means

06/01/2026reported referred to rules

06/01/2026reported 

06/01/2026rules report cal.307

06/01/2026ordered to third reading rules cal.307

06/01/2026substituted by s900

&nbspS00900 AMEND= MARTINEZ

&nbsp01/08/2025REFERRED TO LOCAL GOVERNMENT

&nbsp02/25/2025REPORTED AND COMMITTED TO FINANCE

&nbsp01/07/2026REFERRED TO LOCAL GOVERNMENT

&nbsp03/10/20261ST REPORT CAL.497

&nbsp03/11/20262ND REPORT CAL.

&nbsp03/12/2026ADVANCED TO THIRD READING 

&nbsp03/25/2026PASSED SENATE

&nbsp03/25/2026DELIVERED TO ASSEMBLY

&nbsp03/25/2026referred to local governments

&nbsp06/01/2026substituted for a9534

&nbsp06/01/2026ordered to third reading rules cal.307

&nbsp06/01/2026passed assembly

&nbsp06/01/2026returned to senate

Go to topA09534 Committee&nbspVotes:

Committee:LOCAL GOVERNMENTS Chair:Solages 
DATE:05/27/2026AYE/NAY:19/0 Action: Favorable refer to committee Ways and Means SolagesAyeBrownAye

RamosExcusedFriendAye

WoernerAyeManktelowAye

JacobsonAyeGallahanAye

ClarkAyeSimpsonAye

ConradAyeBeephanAye

RiveraAye

LevenbergAye

ShimskyAye

ShresthaAye

SchiavoniAye

WiederAye

KassayAye

O'PharrowAye

Committee:WAYS AND MEANS Chair:Pretlow 
DATE:06/01/2026AYE/NAY:32/0 Action: Favorable refer to committee Rules PretlowAyePalmesanoAye

GlickAyeFitzpatrickAye

ColtonAyeHawleyAye

CookExcusedBlankenbushAye

BenedettoAyeWalshAye

WeprinAyeDeStefanoAye

RamosAbsentManktelowAye

BraunsteinAyeSmullenAye

McDonaldAyeGiglioAye

RozicAyeSlaterAye

DinowitzAye

MagnarelliAye

BronsonAye

DilanAbsent

SeawrightAye

HyndmanAye

WalkerAye

Bichotte HermelAye

SimonAye

CruzAye

OtisAye

SolagesAye

HunterAye

SeptimoAye

HevesiAye

Committee:RULES Chair:Glick 
DATE:06/01/2026AYE/NAY:28/0 Action: Favorable HeastieExcusedRaAye

PretlowAyeHawleyAye

CookExcusedBlankenbushAye

GlickAyeBrabenecAye

DinowitzAyePalmesanoAye

ColtonAyeReillyAye

MagnarelliAyeSmithAye

PaulinAyeJensenAye

Peoples-StokesAyeGandolfoAye

BenedettoAye

LavineAye

LupardoAye

BraunsteinAye

DavilaExcused

HyndmanAye

RozicAye

BronsonAye

HevesiAye

HunterAye

TaylorAye

CruzAye

VanelAye

Go to topA09534 Floor&nbspVotes:

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

Go to topA09534 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9534

 IN ASSEMBLY

 January 14, 2026
 ___________

 Introduced by M. of A. SOLAGES -- read once and referred to the Commit-
 tee on Local Governments

 AN ACT to amend the local finance law, in relation to the delivery of
 the good faith deposit following award of the bonds to the successful
 bidder

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

 1 Section 1. Subdivision 3 of paragraph c of section 58.00 of the local
 2 finance law, as amended by chapter 416 of the laws of 2012, is amended
 3 to read as follows:
 4 3. A requirement that [as a condition precedent to the consideration
 5 of his or her bid, each] the successful bidder shall deposit with such
 6 official as the agency in charge of the sale may designate, a certified
 7 or cashier's check drawn upon an incorporated bank or trust company to
 8 the order of the municipality, school district or district corporation
 9 or such official, for the amount specified in the notice, but in no
 10 event less than one-half of one per centum of the amount of bonds
 11 to be bid for. Notwithstanding the provisions of this subdivision, a
 12 municipality, school district or district corporation may require that
 13 such deposit be made as a condition precedent to the consideration of a
 14 bid for the bonds. Such notice may also provide that, in lieu of a
 15 certified or cashier's check, [bidders may furnish as security] the
 16 deposit ma