Shown verbatim: the complete text as captured from the official source posted by the New York State Senate, fetched 2026-08-11. Nothing is edited or removed. Where this bill amends existing law, language marked for deletion in the official source appears here in brackets. The official bill page.
S T A T E O F N E W Y O R K
________________________________________________________________________
5833
2025-2026 Regular Sessions
I N A S S E M B L Y
February 20, 2025
___________
Introduced by M. of A. PRETLOW -- (at request of the State Comptroller)
-- read once and referred to the Committee on Ways and Means
AN ACT to amend the state finance law, in relation to the refund of
state bonds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 1 of section 56 of the state finance law, as
amended by chapter 415 of the laws of 1986, is amended to read as
follows:
1. Whenever in [his] THE COMPTROLLER'S opinion it is to the advantage
of the state the comptroller when issuing and selling any bonds of the
state may reserve to the state on such conditions as [he] THE COMP-
TROLLER may deem advisable and proper the privilege of refunding or of
redeeming [at not more than three per centum above par value] all or any
part of such bonds prior to the date on which they shall be due and
payable.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07030-01-5Every fact on this page links to its source, starting with the official bill record.