Assembly BillChaptered/Signed
A 5298: Extends certain provisions relating to bonds and notes of the city of Yonkers until June 30, 2026.
What A 5298 does, verified July 2, 2025
The bill allows the city of Yonkers to issue bonds or notes for sale to private investors without the usual limitations, as long as the sale is approved by the state comptroller. The city can arrange for private underwriting or direct sales to investors, with the underwriter or seller paying a negotiated fee. The cost of underwriting or private placement is considered a preliminary cost and is not subject to the usual rules. The bill takes effect immediately.
Bill journey
✓IntroducedComplete
✓In CommitteeComplete
✓First Chamber FloorComplete
✓Second ChamberComplete
✓GovernorComplete
6ChapteredCurrent
Last action: signed chap.136 (2025-06-18)Alert me
Quick answers about A 5298
- What is the current status of A 5298?
- As of July 2, 2025, A 5298 is recorded as "Chaptered/Signed": it has been signed by the Governor and chaptered into law. The last recorded action, on June 18, 2025, was "signed chap.136".
- Did A 5298 pass?
- Yes. A 5298 passed both houses and was signed into law (last action June 18, 2025). New York laws take effect on the date written into the bill, often immediately on signing or a set number of days afterward.
- Who wrote A 5298, and where is it now?
- A 5298 was authored by Asm. James Pretlow.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions17 total · showing 5
| Jun. 20, 2025 | signed chap.136 |
| Jun. 18, 2025 | signed chap.136 |
| Jun. 18, 2025 | delivered to governor |
| May. 28, 2025 | RETURNED TO ASSEMBLY |
| May. 28, 2025 | PASSED SENATE |
Latest bill textIntroduced version, February 12, 2025 · 341 words
STATE OF NEW YORK ________________________________________________________________________ 5298 2025-2026 Regular Sessions IN ASSEMBLY February 12, 2025 ___________ Introduced by M. of A. PRETLOW -- read once and referred to the Commit- tee on Cities AN ACT to amend the local finance law, in relation to bonds and notes of the city of Yonkers The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 54.40 of the local finance law, as amended by chap- 2 ter 131 of the laws of 2024, is amended to read as follows: 3 § 54.40 Bonds and notes of the city of Yonkers. Subject to the 4 provisions of the New York state financial emergency act of nineteen 5 hundred eighty-four for the city of Yonkers, to facilitate the marketing 6 of any issue of serial bonds or notes of the city of Yonkers issued on 7 or before June thirtieth, two thousand [twenty-five] twenty-six, such 8 city may, notwithstanding any limitations on private sales of bonds 9 provided by law, and subject to approval by the state comptroller of the 10 terms and conditions of such sale: (a) arrange for the underwriting of 11 its bonds or notes at private sale through negotiated agreement, compen- 12 sation for such underwriting to be provided by negotiated fee or by sale 13 of such bonds or notes to an underwriter at a price of less than the sum 14 of par value of, and the accrued interest on, such obligations; or (b) 15 arrange for the private sale of its bonds or notes through negotiated 16 agreement, compensation for such sales to be provided by negotiated fee, 17 if required. The cost of such underwriting or private placement shall be 18 deemed a preliminary cost for purposes of section 11.00 of this article. 19 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01402-01-5
Text of A 5298 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions