Bill > S01235

This bill increases the authorization of the Dormitory Authority of the State of New York (DASNY), which is the successor to the New York State Medical Care Facilities Finance Agency (MCFFA), to issue hospital and nursing home project bonds and notes. Specifically, the bill raises the maximum aggregate principal amount of such bonds and notes from $18.2 billion to $20 billion. The legislation allows DASNY to continue issuing bonds to support healthcare facilities, with a provision that bonds issued to refund or repay existing obligations may cause the total outstanding amount to exceed the $20 billion limit, provided the present value of the new debt service does not exceed the present value of the original debt. The bill includes a technical calculation method for determining the present value based on semi-annual interest rates. The change aims to provide additional financial flexibility for healthcare facility financing in New York State, and the act will take effect immediately upon passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S1235