Senate BillIntroduced
S 5442: Authorizes the state comptroller to refund all or any part of bonds when it is to the advantage of the state.
What S 5442 does, verified July 2, 2025
The bill aims to amend the state finance law to allow the state comptroller to reserve the privilege of refunding or redeeming state bonds prior to their due date. The comptroller may do this at a rate not more than three percent above the par value of the bonds. This change allows for more flexibility in managing state debt and potentially saving the state money. The bill takes effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: ORDERED TO THIRD READING CAL.448 (2025-03-04)Alert me
Quick answers about S 5442
- What is the current status of S 5442?
- As of July 2, 2025, S 5442 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on March 4, 2025, was "ORDERED TO THIRD READING CAL.448".
- Did S 5442 pass?
- Not yet. S 5442 has been introduced and has not passed either house.
- Who wrote S 5442, and where is it now?
- S 5442 was authored by Sen. Liz Krueger.
Author and sponsors
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| Mar. 04, 2025 | ORDERED TO THIRD READING CAL.448 |
| Mar. 04, 2025 | REPORTED AND COMMITTED TO RULES |
| Mar. 04, 2025 | SUBSTITUTED BY A5833 |
| Feb. 21, 2025 | REFERRED TO FINANCE |
Latest bill textIntroduced version, February 21, 2025 · 229 words
STATE OF NEW YORK ________________________________________________________________________ 5442 2025-2026 Regular Sessions IN SENATE February 21, 2025 ___________ Introduced by Sen. KRUEGER -- (at request of the State Comptroller) -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to the refund of state bonds The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 56 of the state finance law, as 2 amended by chapter 415 of the laws of 1986, is amended to read as 3 follows: 4 1. Whenever in [his] the comptroller's opinion it is to the advantage 5 of the state the comptroller when issuing and selling any bonds of the 6 state may reserve to the state on such conditions as [he] the comp- 7 troller may deem advisable and proper the privilege of refunding or of 8 redeeming [at not more than three per centum above par value] all or any 9 part of such bonds prior to the date on which they shall be due and 10 payable. 11 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07030-01-5
Text of S 5442 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions