New York S01565 requires ballot propositions creating state debt to include an estimate of the amortization period and total expected debt service.

New York S01565 amends the election law to mandate that any ballot proposition creating a state debt must contain an estimate of the amortization period and the total expected debt service payable until the bonds are retired. This information must be printed in the largest type practicable. The state board of elections and the secretary of state must receive this information. The bill also amends the state finance law to require any state publication explaining such propositions to include the same estimate. This act takes effect immediately.

New York S01565 requires ballot propositions creating state debt to include an estimate of the amortization period and total expected debt service.

New York S01565 amends the election law to mandate that any ballot proposition creating a state debt must contain an estimate of the amortization period and the total expected debt service payable until the bonds are retired. This information must be printed in the largest type practicable. The state board of elections and the secretary of state must receive this information. The bill also amends the state finance law to require any state publication explaining such propositions to include the same estimate. This act takes effect immediately.