Bill > A03224

This bill amends the New York State Medical Care Facilities Finance Agency Act to increase the agency's authorized bond issuance limit from $18.2 billion to $20 billion. The legislation allows the agency to issue more hospital and nursing home project bonds and notes, providing additional financial flexibility. The bill maintains existing provisions that permit bond issuance for refunding or repaying outstanding obligations, with a specific calculation method for determining the present value of debt service. The change enables the agency to have more capacity to finance healthcare facility projects and manage its financial obligations. The bill includes a standard immediate effective date, meaning it will go into effect as soon as it is signed into law. By raising the bond issuance cap, the legislation aims to support continued investment and development in New York's medical care facilities infrastructure.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A3224