Bill > A08277

This bill extends the duration of an electronic open auction bond sale pilot program established in 2019. Specifically, the bill modifies the original law by changing the expiration period from six years to eight years. An open auction bond sale is a method for local governments to sell municipal bonds through an electronic platform, which can potentially increase transparency and efficiency in the bond issuance process. The change means the pilot program will now remain in effect for eight years from its original effective date before being automatically repealed. The bill takes effect immediately, which allows the extended pilot program to continue without interruption. This extension provides additional time for local governments to evaluate and potentially implement the electronic open auction bond sale method, giving them more opportunity to assess its benefits and potential long-term use.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A8277