Bond Anticipation Notes (BANs) Renewals Issued 2015 Through 2020

Comptroller DiNapoli's Legislative Program

Legislative Session 2019-2020:

Signed into law on August 24, 2020 as Chapter 157 of the Laws of 2020 – A.10492 Rules (Thiele) / S.8417 Krueger - Provides financial and budgetary flexibility to local governments as they continue to operate and provide critical services during the COVID-19 public health crisis and its aftermath, by: (1) extending the "rollover" period for bond anticipation notes issued in calendar years 2015 through 2021, inclusive; (2) authorizing local governments and school districts to spend or temporarily transfer moneys in reserve funds for COVID-19 pandemic-related expenses; and (3) permitting the repayment of inter-fund advances made for COVID-19 pandemic-related expenses by the end of the next succeeding fiscal year or later, rather than the end of the current fiscal year.