TITLE

Gov. Pataki Nixes N.Y. Legislature's Relief Plan, Offers Own

AUTHOR(S)
McDonald, Michael
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/14/2003, Vol. 344 Issue 31635, p29
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
New York governor George E. Pataki has rejected the state Legislature's proposal for a 1.797 billion dollar fiscal 2004 assistance package for the New York City and unveiled his own 1.765 billion dollar plan. In addition to rejecting tax increases, Pataki's plan also rejects the Legislature's proposal to refinance 2.5 billion dollar in Municipal Assistance Corp. debt over 30 years. The governor would also authorize an increase in the constraint on the New York City Transitional Finance Authority, a measure that was not included in the Legislature's package. Pataki said that overall, his plan would provide the city another 1.759 billion dollar in relief in fiscal 2005, while the Legislature's proposal, which was passed by both the Senate and the Assembly on May 5, would provide only 1.377 billion dollar in the second year.
ACCESSION #
9860009

 

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