Extends the open auction bond sale pilot program

Latest action Aug 7, 2025

Extends the open auction bond sale pilot program.

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Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A8277, the matching bill in the Assembly.

Passed as A8277, the matching Assembly bill.

Committee

Local Government · New York State Senate

Also referred to Local Governments · New York State Assembly, Rules · New York State Assembly, Rules · New York State Senate.

Purpose, from the sponsor's memo

This legislation would extend for two years the electronic open auction bond sale pilot program allowing municipalities the option to sell bonds in an open electronic auction format.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateJun 10, 2025Result: passedSenate vote on A8277, the matching Assembly bill.
(58) (0) (0) (5)
Vote: Committee vote · Rules
Senate RulesJun 4, 2025Result: passed
(20) (0) (0) (1)

The sponsor's argument

Why Monica Martinez says this is needed

Some have argued that electronic bidding increases the speed and effi- ciency of bidding as well as reducing the administrative burden and costs. Currently, New York authorizes electronic bidding through section 58 of the Local Finance Law but only permits closed bidding. There are now forty states that have enacted legislation to allow municipalities to conduct public bond sales through nationally-recognized bidding firms, many of them by the electronic bidding open auction format. In 2019, New York authorized the establishment of an open auction bond sale pilot program. This legislation would authorize such pilot program to be extended for an additional two years.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Aug 7, 2025
Signed
SIGNED CHAP.240
NY Assembly
Aug 4, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Jun 10, 2025
3RD Reading CAL.1592
3RD READING CAL.1592
NY Senate
Jun 10, 2025
Passed a chamber
PASSED SENATE
NY Senate
Jun 10, 2025
Substituted
SUBSTITUTED FOR S8316
NY Senate

Show full history (10 earlier events)

Jun 4, 2025
Ordered to Third Reading CAL.1592
ORDERED TO THIRD READING CAL.1592
NY Senate
Jun 2, 2025
Referred to committee
REFERRED TO RULES
NY Senate
May 29, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
May 29, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
May 29, 2025
Referred to committee
REFERRED TO LOCAL GOVERNMENT
NY Senate
May 29, 2025
Reported out of committee
REPORTED
NY Assembly
May 29, 2025
Rules Report CAL.355
RULES REPORT CAL.355
NY Assembly
May 27, 2025
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
May 13, 2025
Reported out of committee
REPORTED REFERRED TO WAYS AND MEANS
NY Assembly
May 8, 2025
Referred to committee
REFERRED TO LOCAL GOVERNMENTS
NY Assembly

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 22, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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