NY State Fin L § 61 (2021)
2021 New York Laws STF - State Finance Article 5 - Borrowing by the State 61 - Probable Life of Certain Works or Purposes of State Debt.

§  61.  Probable  life  of certain works or purposes of state debt. In compliance  with  section  twelve  of  article  seven   of   the   state constitution,  it is hereby determined that the probable life of each of the following described types of  buildings,  structures,  improvements, acquisitions  or  purposes,  as  a work or purpose, or part of a work or purpose, for which a state debt shall be  contracted  pursuant  to  such article of the constitution, is determined to be as follows:                        BUILDINGS AND APPURTENANCES   1.  Thirty years. Class A buildings. Buildings, the walls of which are constructed of brick, stone,  concrete,  metal  or  other  incombustible material,  and in which there are no wood beams or lintels, and in which the  floors,  roofs,  stair  halls,  and   other   means   of   vertical communication  between floors and their enclosures are built entirely of brick, stone, metal or other incombustible materials, and  in  which  no woodwork  or  other  inflammable  material  is  used in any of the rough partition, floor or ceiling structures.   2. Twenty years. Class B buildings.  Buildings,  the  outer  walls  of which  are constructed of brick, stone, concrete, metal, stucco or other fire-resisting material,  including  a  building  which  is  rebuilt  or altered  so  that  it,  together  with  additions  or  vertical or other extensions or replacements, are fire-resisting.   3. Fifteen years. Class C buildings. Buildings that are neither  class A nor class B as defined in subdivisions one and two, including any such building which is rebuilt or altered so that any addition or vertical or other extension is not fire-proof or fire-resisting, as thus defined.   4.  Fifteen  years.  Plumbing, heating, lighting, power, water supply, refrigeration, sewerage or drainage plants or systems, or two or more of them whether within or in connection with a building above described, or otherwise, except that where the proceeds of a  bond  issue  are  to  be expended for any such system or plant and also for the construction of a building  in  or  in  connection with which the system or plant shall be constructed, the probable life of both, as an entirety, is the  same  as the probable life of the building as above determined.            STATE HIGHWAYS, PARKWAYS, ARTERIAL HIGHWAYS, STATE                 AND FEDERALLY-AIDED HIGHWAY AND HIGHWAY-                TRANSPORTATION PROJECTS, ROADS AND STREETS   5. (a) Twenty years. Construction or reconstruction of state highways, state  parkways,  state  arterial  highways  in  cities, other state and federally-aided highway and highway-transportation projects and  related facilities and structures.  (b)   Ten   years.   Improvement,   including   but   not  limited  to reconditioning and preservation, including critical structural  repairs, of  state  highways and parkways, state arterial highways in cities, and bridges thereon; local  streets  and  highways  off  the  state  highway system,   and   bridges   thereon;   other   state,  state-aided  and/or federally-aided highway and highway-transportation projects and  related facilities  and  structures; construction, reconstruction or improvement of a road, street or trail,  whether  without  or  within  state  parks, whether  or  not  including  contemporaneous  construction of sidewalks, curbs, gutters or drains, and whether or not including grading,  if  the surface  is  laid  on  a  solid  foundation, or is of concrete; commuter parking facilities; highway and bridge projects undertaken by localities pursuant to subdivision four of section ten-c of  the  highway  law  and pursuant  to section one of chapter eight hundred thirty-six of the laws of nineteen hundred eighty-three known as the Rebuild New  York  Through Transportation  Infrastructure Renewal Bond Act of 1983; and alterations necessary to improve railroad track clearances.    6.  Five  Years.  A  road  or  street,  whether   or   not   including contemporaneous construction of sidewalks, curbs, gutters or drains, and whether  or  not  including  grading,  if  the surface is of water-bound macadam or penetration process or is of sand and gravel.                           BRIDGES AND CULVERTS   7.  Twenty  years.  A bridge or culvert (including retaining walls and approaches), unless constructed of wood.   8. Five years. A bridge or  culvert  (including  retaining  walls  and approaches), constructed of wood.                         DAMS, DOCKS AND SEA WALLS   9. Fifteen years. Dams, docks and sea walls.                     PARK IMPROVEMENT AND DEVELOPMENT   10.  Ten  years.  Park improvement and development, including forestry work, fire protection, planting, grading and park equipment.                                 SIDEWALKS   11. Five years. A sidewalk, curb or gutter not included in  any  other subdivision of this section.                            OTHER IMPROVEMENTS   12.  Forty years. Elimination of railroad grade crossing or crossings, whether or  not  including  the  acquisition  of  land,  and  incidental improvements connected therewith.   13. Thirty. The acquisition of land.   14. Ten years. Sewer, water, gas or other service connections from the service main in the road, street or highway to the property line.   15.  Five  years. Any work of construction, improvement or purpose not covered by other provisions of this section.                        SLUM CLEARANCE AND HOUSING   16. Fifty years. The effectuating of any of the purposes of the public housing law and article two of the private housing finance law.   16-a. Twenty-five years. Effectuating an urban renewal program or part thereof pursuant to article fifteen of the general municipal law.                         HIGHER EDUCATION PROJECTS   17. Thirty years. Any work or purpose for which a state  debt  may  be incurred   pursuant   to  section  nineteen  of  article  seven  of  the constitution.                     CLEAN WATER IMPROVEMENT PROJECTS   18. Thirty years. The construction, reconstruction and improvement  of facilities  for  the  purpose  of  treating, neutralizing or stabilizing sewage,  including  treatment  of   disposal   plants,   the   necessary intercepting,  outfall  and  outlet sewers, pumping stations integral to such plants or sewers,  equipment  and  furnishings  thereof  and  their appurtenances,   pursuant   to   contracts   of   the   commissioner  of environmental  conservation   pursuant   to   section   twelve   hundred sixty-three-b  of  the  public health law and/or pursuant to chapter six hundred fifty-nine of the laws of nineteen hundred seventy-two  and,  in addition  to  the  above,  safe  drinking water projects and clean water projects undertaken pursuant to  a  chapter  of  the  laws  of  nineteen hundred   ninety-six,  entitled  "AN  ACT  to  amend  the  environmental conservation law, the agriculture and markets law,  the  executive  law, the  public  authorities  law, the public health law, the soil and water conservation districts law, the state finance law, and the tax  law,  in relation  to the implementation of the Clean Water/Clean Air Bond Act of 1996 and making appropriations therefor".                  OUTDOOR RECREATION DEVELOPMENT PROJECTS   19. Twenty years. The development or acquisition of lands for  outdoor recreation,  including parks, forest recreation areas, marine facilities and historic sites, and including the state share of  such  development, restoration,  improvement  or  acquisition undertaken by a municipality,  not-for-profit  corporation  or  the  federal  government,  pursuant  to article seventeen of the parks, recreation and historic preservation law and/or  pursuant  to  chapter  six  hundred  fifty-nine  of  the laws of nineteen  hundred  seventy-two  and/or  pursuant to chapter five hundred twelve of the laws of nineteen hundred eighty-six and,  in  addition  to the  above,  park,  historic  preservation  and  heritage  area projects undertaken pursuant to  a  chapter  of  the  laws  of  nineteen  hundred ninety-six,  entitled  "AN  ACT  to amend the environmental conservation law, the agriculture and markets law,  the  executive  law,  the  public authorities  law, the public health law, the soil and water conservation districts law, the state finance law, and the tax law,  in  relation  to the  implementation  of  the  Clean Water/Clean Air Bond Act of 1996 and making appropriations therefor".                     TRANSPORTATION CAPITAL FACILITIES   20. Thirty years. For the acquisition, construction, reconstruction or improvement of any railroad  capital  facility,  rapid  transit  rolling stock,  mass  transportation  capital  facility  or  airport or aviation capital facility, and any capital equipment used in connection therewith pursuant to chapter seven  hundred  fifteen  of  the  laws  of  nineteen hundred  sixty-seven known as the transportation capital facilities bond act, or pursuant to section two of chapter one hundred eighteen  of  the laws  of  nineteen  hundred  seventy-four known as the rail preservation bond act of nineteen hundred seventy-four, or pursuant to section one of chapter three  hundred  sixty-nine  of  the  laws  of  nineteen  hundred seventy-nine   known   as   the  energy  conservation  through  improved transportation bond act of nineteen hundred  seventy-nine,  pursuant  to section  one of chapter eight hundred thirty-six of the laws of nineteen hundred  eighty-three  known   as   the   Rebuild   New   York   Through Transportation  Infrastructure  Renewal Bond Act of 1983, or pursuant to section four of a chapter of the laws of two thousand five known as  the rebuild and renew New York transportation bond act of two thousand five, except  (a)  twenty  years  in the case of railroad locomotives or other railroad rolling stock and (b) ten years in the case of any  omnibus  or similar surface transit motor vehicle or any aircraft.                     AIR QUALITY IMPROVEMENT PROJECTS   21.  Fifteen  years. The upgrading of an existing incinerator, furnace or boiler and appurtenances thereto now owned and operated by the  state or  a  municipality,  pursuant  to  contracts  of  the  commissioner  of environmental conservation pursuant to chapter six hundred fifty-nine of the laws of nineteen hundred seventy-two and, in addition to the  above, twenty years for air quality improvement projects undertaken pursuant to a  chapter  of the laws of nineteen hundred ninety-six, entitled "AN ACT to amend the environmental conservation law, the agriculture and markets law, the executive law, the public authorities law,  the  public  health law,  the  soil  and water conservation districts law, the state finance law, and the tax law, in relation to the  implementation  of  the  Clean Water/Clean  Air  Bond  Act of 1996 and making appropriations therefor", except ten years in the case of vehicles.     WETLANDS AND AQUATIC HABITAT PRESERVATION OR RESTORATION PROJECT   22. Thirty years. A state or municipal project to preserve or  restore biologically  productive and vulnerable wetlands because of their unique and irreplaceable value, pursuant to chapter six hundred  fifty-nine  of the  laws of nineteen hundred seventy-two and, in addition to the above, aquatic habitat restoration projects undertaken pursuant to a chapter of the laws of nineteen hundred ninety-six, entitled "AN ACT to  amend  the environmental  conservation  law,  the  agriculture and markets law, the executive law, the public authorities law, the public  health  law,  the soil  and  water  conservation districts law, the state finance law, and  the tax law, in relation to the implementation of the Clean  Water/Clean Air Bond Act of 1996 and making appropriations therefor".               SOLID WASTE RECOVERY AND MANAGEMENT PROJECTS   23.  Thirty  years.  Installations and equipment designed, constructed and required to separate, process, modify, convert,  treat,  or  prepare collected  solid waste as required by a municipal solid waste management system pursuant to  chapter  six  hundred  fifty-nine  of  the  laws  of nineteen  hundred seventy-two and, in addition to the above, solid waste projects undertaken pursuant to  a  chapter  of  the  laws  of  nineteen hundred   ninety-six   entitled  "AN  ACT  to  amend  the  environmental conservation law, the agriculture and markets law,  the  executive  law, the  public  authorities  law, the public health law, the soil and water conservation districts law, the state finance law, and the tax  law,  in relation  to the implementation of the Clean Water/Clean Air Bond Act of 1996 and making appropriations therefor", except ten years in  the  case of vehicles or other moveable equipment.       PORT, MARINE TERMINAL, CANAL AND WATERWAYS CAPITAL FACILITIES   25.  Fifteen years. For the construction, reconstruction, improvement, reconditioning and preservation of  port,  marine  terminal,  canal  and waterways  capital facilities and appurtenances, pursuant to section one of chapter eight hundred thirty-six of  the  laws  of  nineteen  hundred eighty-three,  known  as  the  Rebuild  New  York Through Transportation Infrastructure Renewal Bond Act of 1983 and pursuant to section four  of a  chapter  of  the  laws  of two thousand five known as the rebuild and renew New York transportation bond act of two thousand five.                 HAZARDOUS WASTE SITE REMEDIATION PROJECTS   26. Twenty years. For the remediation of sites at which there has been disposal of hazardous wastes pursuant  to  a  chapter  of  the  laws  of nineteen hundred eighty-six entitled, "An act to amend the environmental conservation  law,  the  navigation  law  and  the state finance law, in relation to the implementation of the environmental quality bond act  of nineteen hundred eighty-six".                        MUNICIPAL LANDFILL PROJECTS   27.  Twenty years. For municipal projects approved by the commissioner of environmental conservation to close a landfill  pursuant  to  chapter five  hundred  twelve of the laws of nineteen hundred eighty-six and, in addition to the above, landfill and landfill closure projects undertaken pursuant to a chapter  of  the  laws  of  nineteen  hundred  ninety-six, entitled  "AN  ACT  to  amend  the  environmental  conservation law, the agriculture and markets law, the executive law, the  public  authorities law,  the  public  health law, the soil and water conservation districts law, the state finance  law,  and  the  tax  law,  in  relation  to  the implementation  of the Clean Water/Clean Air Bond Act of 1996 and making appropriations therefor".                    ENVIRONMENTAL RESTORATION PROJECTS   29. Twenty years. For environmental restoration  improvement  projects undertaken  pursuant  to  a  chapter  of  the  laws  of nineteen hundred ninety-six, entitled "AN ACT to  amend  the  environmental  conservation law,  the  agriculture  and  markets  law, the executive law, the public authorities law, the public health law, the soil and water  conservation districts law, the state finance law and the tax law, in relation to the implementation  of the Clean Water/Clean Air Bond Act of 1996 and making appropriations therefor".                   OPEN SPACE LAND CONSERVATION PROJECTS   30. Thirty years. For open space land conservation projects undertaken pursuant to a chapter  of  the  laws  of  nineteen  hundred  ninety-six, entitled  "AN  ACT  to  amend  the  environmental  conservation law, the agriculture and markets law, the executive law, the  public  authorities  law,  the  public  health law, the soil and water conservation districts law, the state finance  law,  and  the  tax  law,  in  relation  to  the implementation  of the Clean Water/Clean Air Bond Act of 1996 and making appropriations therefor".                          SMART SCHOOLS PROJECTS   31. Thirty years. For the payment of smart schools projects, including but  not  limited  to  pre-kindergarten  or transportable classroom unit replacement projects, community  connectivity  projects,  and  classroom technology  projects,  all  as defined in subdivision sixteen of section thirty-six  hundred  forty-one  of  the  education  law  and  undertaken pursuant to a chapter of the laws of two thousand fourteen, enacting and constituting  the  smart  schools  bond  act  of  2014. Thirty years for pre-kindergarten projects or transportable  classroom  unit  replacement projects,  twenty  years  for community connectivity projects, and eight years for classroom technology projects or school  safety  and  security technology  projects. Notwithstanding the foregoing, for the purposes of calculating annual debt service, the state  comptroller  shall  apply  a weighted average period of probable life of such smart schools projects, including  with  any  other  works or purposes to be financed with state debt. Weighted average period of probable life shall  be  determined  by computing  the  sum  of the products derived from multiplying the dollar value of the portion of the debt contracted for each work or purpose (or class of works or purposes) by the probable life of such work or purpose (or class of works or purposes) and dividing the resulting  sum  by  the dollar  value  of  the  entire  debt after taking into consideration any original issue premium or discount.   * 32. Thirty  years.  For  the  payment  of  "restore  mother  nature" projects,  as  defined  in  article  fifty-eight  of  the  environmental conservation law and undertaken pursuant to a chapter of the laws of two thousand twenty-one, enacting and constituting  the  environmental  bond act  of  2022  "restore  mother  nature". Thirty years for flood control infrastructure, other environmental infrastructure,  wetland  and  other habitat  restoration,  water  quality  projects,  acquisition  of  land, including acquisition of real property, and renewable  energy  projects. Notwithstanding  the  foregoing,  for the purposes of calculating annual debt service, the state  comptroller  shall  apply  a  weighted  average period of probable life of restore mother nature projects, including any other works or purposes to be financed with state debt. Weighted average period  of probable life shall be determined by computing the sum of the products derived from multiplying the dollar value of the portion of the debt contracted for each work or purpose (or class of works or purposes) by the probable life of such work or  purpose  (or  class  of  works  or purposes)  and  dividing  the  resulting  sum by the dollar value of the entire debt after taking into consideration any original  issue  premium or discount.   * NB  Takes  effect  only if section 1 of part TT of chapter 59 of the laws of 2021 enacting the environmental bond act of 2022 "restore mother nature" is submitted to the people at the general election to be held in November 2022 and is approved by the majority of votes