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Bill

S 6928

Provides for the sale of municipal obligations by the county of Erie

2025 Regular Session Introduced by Sean Ryan

Bill S 6928 allows Erie County to sell municipal obligations, boosting funding for local projects like infrastructure and public services, benefiting residents and investors.

SUBSTITUTED BY A1177
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Bill Summary · S 6928

Summary of Bill S 6928

Bill Overview

  • Bill Number: S 6928
  • Title: Provides for the sale of municipal obligations by the county of Erie
  • Status: Substituted by A1177
  • Introduced: March 27, 2025
  • Classification: Legislative bill

Purpose and Intent

The primary purpose of Bill S 6928 is to authorize the county of Erie to sell municipal obligations. This legislative action aims to enhance the county's financial flexibility and capacity to fund various public projects and services through the issuance and sale of these obligations.

Key Provisions

While the specific text of the bill is not provided, the general provisions typically associated with such legislation may include:
- Authorization for Sale: The bill would grant the county of Erie the authority to issue and sell municipal obligations, which could include bonds or notes.
- Use of Proceeds: The proceeds from the sale of these obligations would likely be earmarked for specific public projects, infrastructure improvements, or other municipal needs.
- Regulatory Compliance: The bill may outline the necessary compliance with state and federal regulations governing the issuance of municipal securities.

Impact

  • County of Erie: The primary entity affected by this bill is the county of Erie, which would gain the ability to raise funds through the sale of municipal obligations.
  • Local Projects: The funding generated could support a variety of local initiatives, including infrastructure development, public safety enhancements, and community services.
  • Investors: Potential investors in municipal obligations would also be impacted, as they would have new opportunities to invest in the county's financial instruments.

Legislative Timeline

  • March 27, 2025: Bill S 6928 was introduced and referred to the Local Government committee.
  • April 29, 2025: The bill was reported for the first time (1st Report Cal. 722).
  • April 30, 2025: The bill advanced to the second report calendar (2nd Report Cal.).
  • May 1, 2025: The bill was advanced to the third reading.
  • June 4, 2025: The bill was substituted by A1177, indicating a shift in legislative strategy or content.

Related Bills

  • S 8145: A prior-session bill that may have addressed similar issues or provided context for the current legislation.
  • A 1177: The companion bill that has substituted S 6928, likely containing similar provisions or objectives.

This summary provides an overview of Bill S 6928, outlining its purpose, key provisions, and potential impacts on the county of Erie and its residents. The substitution by A1177 suggests ongoing legislative activity and potential refinements to the original proposal.

Compiled from official sources — confirm details with the bill’s official record.

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