§ 2976. Cost recovery on the issuance of certain bonds. 1.\nNotwithstanding any other law to the contrary, public benefit\ncorporations (which for purposes of this section shall include\nindustrial development agencies created pursuant to title one of article\neighteen-A of the general municipal law or any other provision of law\nand the New York city housing development corporation created pursuant\nto article twelve of the private housing finance law) which issue bonds,\nnotes or other obligations shall pay to the state a bond issuance charge\nupon the issuance of such bonds in an amount determined pursuant to\nsubdivision two of this section. Such charge shall be paid to the state\ndepartment of taxation and finance, upon forms prescribed therefor, no\nlater than fifteen days from th
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§ 2976. Cost recovery on the issuance of certain bonds. 1.\nNotwithstanding any other law to the contrary, public benefit\ncorporations (which for purposes of this section shall include\nindustrial development agencies created pursuant to title one of article\neighteen-A of the general municipal law or any other provision of law\nand the New York city housing development corporation created pursuant\nto article twelve of the private housing finance law) which issue bonds,\nnotes or other obligations shall pay to the state a bond issuance charge\nupon the issuance of such bonds in an amount determined pursuant to\nsubdivision two of this section. Such charge shall be paid to the state\ndepartment of taxation and finance, upon forms prescribed therefor, no\nlater than fifteen days from the end of the month within which such\nbonds are issued.\n 2. The bond issuance charge shall be computed by multiplying the\nprincipal amount of bonds issued by the percentage set forth in the\nschedule below, provided that: (a) the charge applicable to the\nprincipal amount of single family mortgage revenue bonds shall be seven\none-hundredths of one percent; (b) the issuance of bonds shall not\ninclude the remarketing of bonds; and (c) the issuance of bonds shall\nnot include the refunding of bonds, notes or other obligations.\n SCHEDULE\nPrincipal Amount of Bonds Issued Percentage Charge\na. $20,000,000 or less 0%\nb. More than $20,000,000 .35%\n 3. The provisions of subdivisions one and two of this section shall\nnot apply to any public benefit corporation which enters into a contract\nor agreement with the director of the budget which otherwise provides\nfor cost recovery to the state under this section and includes a\nprovision that, in accordance with this subdivision, subdivisions one\nand two of this section shall not apply to such public benefit\ncorporation. The circumstances for the entry into such contract or\nagreement may include, but shall not be limited to, those where the\namount to be paid thereunder equals or exceeds the amount of the bond\nissuance charge which would otherwise be applicable pursuant to\nsubdivisions one and two of this section.\n 4. The provisions of subdivisions one and two of this section shall\nnot apply to recovery act bonds issued by the state of New York\nmunicipal bond bank agency in connection with local American Recovery\nand Reinvestment Act pursuant to section two thousand four hundred\nthirty-six-b of this chapter.\n