Relates to retiring cemetery indebtedness

2025 Regular Session Introduced by Alicia Hyndman

Proposes a framework for retiring cemetery indebtedness, changing debt retirement, refinancing options, and oversight for cemetery authorities, bondholders, and lenders.

REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Summary of Assembly Bill A 4347 (Relates to retiring cemetery indebtedness)

Basic bill information

Bill number: A 4347

Title: Relates to retiring cemetery indebtedness

Status: Referred to the Committee on Corporations, Authorities and Commissions

Introduced: February 4, 2025

Primary sponsor: Alicia Hyndman

Related/companion bills:

A 9447 (prior-session)
S 4392 (companion)

What the bill appears to address (as indicated by the title)

The bill, by its title, aims to address the process or framework for retiring cemetery indebtedness. The exact mechanisms, eligibility, and procedural changes would be determined by the full text of the bill. The current information does not include the bill language or detailed provisions.

Procedural status and timeline

Committee assignment: The bill has been referred to the Assembly Committee on Corporations, Authorities and Commissions, signaling that its focus is likely on corporate or quasi-governmental entities involved in cemetery management or financing.

Action timeline provided: On February 4, 2025, the bill was referred to the committee (with two entries noting the same action in the legislative log).

Next steps (typical for this stage): If advanced, the bill may be scheduled for committee hearings, potential amendments, and votes before the full Assembly. It would also move to the Senate as applicable and may have companion actions for S 4392.

Who would be affected

Based on the committee reference and the topic, the bill would likely impact:

Cemetery authorities, cemetery corporations, and other entities responsible for cemetery operation and financing
Entities that hold or service cemetery debt (e.g., bondholders, lenders)
Potentially municipalities or districts involved in cemetery financing or oversight

The exact scope (which entities qualify, what debts are covered, and what retirement mechanisms are allowed or required) would be clarified in the bill text.

Potential impact (high-level)

If enacted, the bill could change how cemetery indebtedness is retired, which might affect:

Debt management practices for cemetery entities
Financing terms, refinancing options, or debt settlement procedures
Requirements for reporting, oversight, or approval related to cemetery debt

Without the specific provisions, the precise financial, legal, and administrative effects remain to be determined from the enacted language.

Related considerations

The existence of related bills (A 9447 and S 4392 as a companion) suggests efforts to address cemetery indebtedness have been considered in prior sessions and in both chambers, which may influence the forthcoming text and debate.

Next steps for readers

To understand the bill’s substantive provisions, consult the full text of A 4347 on the New York State Assembly website or other official legislative resources.

Review the companion S 4392 for Senate counterparts and the prior-session A 9447 for context.

Monitor committee hearings and amendments in the Committee on Corporations, Authorities and Commissions for updates, testimony, and changes to the bill.