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NYS Comptroller


Comptroller DiNapoli's Legislative Program

Legislative Session 2013-2014:


Issuance of Storm Bonds Signed into law on November 13, 2013 as Chapter 476 of the laws of 2013(Comptroller's Hurricane Sandy Program Bill # 3) – S. 4729 (Rules) and A. 5551 (Magnarelli) – Provide local governments flexibility in borrowing to pay for storm costs. The changes would allow local governments to issue bonds to be repaid over five years. Local governments are normally restricted from borrowing money to pay for non-capital expenses.