New York A02706 amends the Urban Development Corporation Act to provide legislative oversight on short-term liquidity financing.

New York A02706 amends the Urban Development Corporation Act to provide legislative oversight on the issuance of short-term liquidity financing. The bill authorizes the issuance of personal income tax revenue anticipation notes by the New York State Urban Development Corporation and the Dormitory Authority. These notes can be issued with a maturity no later than March 31, 2025, in one or more series with an aggregate principal amount not exceeding three billion dollars per fiscal year.

New York A02706 amends the Urban Development Corporation Act to provide legislative oversight on short-term liquidity financing.

New York A02706 amends the Urban Development Corporation Act to provide legislative oversight on the issuance of short-term liquidity financing. The bill authorizes the issuance of personal income tax revenue anticipation notes by the New York State Urban Development Corporation and the Dormitory Authority. These notes can be issued with a maturity no later than March 31, 2025, in one or more series with an aggregate principal amount not exceeding three billion dollars per fiscal year.