§ 12 — New York state bond allocation policy advisory panel

* § 12. New York state bond allocation policy advisory panel.\n 1. There is hereby created a policy panel and process to provide\npolicy advice regarding the priorities for distribution of the statewide\nceiling.\n 2. The panel shall consist of five members, one designee being\nappointed by each of the following: the governor, the president pro-tem\nof the senate, the speaker of the assembly, the minority leader of the\nsenate and the minority leader of the assembly. The designee of the\ngovernor shall chair the panel.\n The panel shall monitor the allocation process through the year, and\nin that regard, the division of the budget and the department of\neconomic development shall assist and cooperate with the panel as\nprovided in this section. The advisory process shall operate through the\nissuance of advisory opinions by members of the panel as provided in\nsubdivision 6 of this section. A meeting may be held at the call of the\nchair with the unanimous consent of the members.\n 3. a. Upon receipt of a request for allocation or a request for\napproval of a carryforward election from the statewide reserve from a\nlocal agency or other issuer, the commissioner shall, within five\nworking days, notify the panel of such request and provide the panel\nwith copies of all application materials submitted by the applicant.\n b. Upon receipt of a request for allocation or a request for approval\nof carryforward election from the statewide reserve from a state agency,\nthe director shall, within five working days, notify the panel of such\nrequest and provide the panel with copies of all application materials\nsubmitted by the applicant.\n 4. a. Following receipt of a request for allocation from a local\nagency or other issuer, the commissioner shall notify the panel of a\ndecision to approve or exclude from further consideration such request,\nand shall state his reasons. Such notification shall be made with or\nafter the transmittal of the information specified in subdivision 3 of\nthis section and at least five working days before formal notification\nis made to the applicant.\n b. Following receipt of a request for allocation from a state agency,\nthe director shall notify the panel of a decision to approve or exclude\nfrom further consideration such request, and shall state his reasons.\nSuch notification shall be made with or after the transmission of the\ninformation specified in subdivision 3 of this section and at least five\nworking days before formal notification is made to the state agency.\n 5. The requirements of subdivisions 3 and 4 of this section shall not\napply to adjustments to allocations due to bond sizing changes.\n 6. Special procedure for certain decisions. In the event that any\ndecision to approve or to exclude from further consideration a request\nfor allocation is made within ten working days of the end of the\ncalendar year and in the case of all requests for consent to a\ncarryforward election, the commissioner or director, as is appropriate,\nshall provide the panel with the longest possible advance notification\nof his action, consistent with the requirements of the code, and shall,\nwherever possible, solicit the opinions of the members of the panel\nbefore formally notifying any applicant of his action. Such notification\nmay be made by means of telephone communication to the members or by\nwritten notice delivered to the Albany office of the appointing\nauthority of the respective members.\n 7. Advisory opinions by members of the panel. Upon notification by the\ndirector or the commissioner, any member of the panel may, within five\nworking days, notify the commissioner or the director of any policy\nobjection concerning the expected action. If three or more members of\nthe panel shall submit policy objections in writing to the intended\naction, the commissioner or the director shall respond in writing to the\nobjection prior to taking the intended action unless exigent\ncircumstances make it necessary to respond after the action has been\ntaken.\n ** 8. Reports. On or before the thirty-first day of January, in any\nyear, the director shall report to the members of the New York state\nbond allocation policy advisory panel on the actual utilization of\nvolume cap for the issuance of bonds during the prior calendar year and\nthe amount of such cap allocated for carryforwards for future bond\nissuance. The report shall include, for each local agency or other\nissuer and each state agency the initial allocation, the amount of bonds\nissued subject to the allocation, the amount of the issuer's allocation\nthat remained unused, the allocation of the statewide bond reserve,\ncarry forward allocations and recapture of allocations. Further, the\nreport shall include projections regarding private activity bond\nissuance for state and local issuers for the calendar year, as well as\nany recommendations for legislative action.\n* * NB Repealed January 31, 1991\n* NB Repealed January 1, 1991\n