Bill > A05833

This bill amends the state finance law to expand the state comptroller's authority to refund or redeem state bonds. Specifically, the bill removes gendered language (changing "his" to "the comptroller's") and eliminates a previous restriction that limited bond redemption to no more than 3% above par value. The updated language gives the comptroller broader discretion to refund or redeem all or part of the state's bonds when the comptroller determines it would be advantageous to the state, allowing more flexible financial management. The provision enables the state to potentially save money by refinancing bonds under more favorable conditions, subject to the comptroller's judgment about what terms are advisable and proper. The bill would take effect immediately upon passage, providing the comptroller with immediate expanded flexibility in managing state bond transactions.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5833