Bond Caps and Debt Outstanding

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FY 2024 Bond Caps and Debt Outstanding

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STATE-RELATED DEBT
FY 2024 BOND CAPS AND DEBT OUTSTANDING
(millions of dollars) (1)
  Type
of Cap
(Gross or Net)*		 Program (2) FY 2024
Bond Caps		 Authorized
But
Unissued (3)		 Debt
Outstanding (4)
As of 3/31/23
Education:
  Gross SUNY Educational Facilities (5) 18,111 3,719 8,886
  Net SUNY Upstate Community Colleges (6) 1,227 259 663
  Gross CUNY Educational Facilities (7) 11,314 2,925 4,596
  Net School District Capital Outlay Grants 140 40 0
  Net Transportation Transition Grants 80 12 0
  Net Higher Education Capital Matching Grants 385 205 28
  Net EXCEL 2,600 27 962
  Net Library Facilities 367 121 76
  Net Cultural Education Storage Facilities 79 69 0
  Net State Longitudinal Data System 20 10 0
  Net SUNY 2020 Challenge Grants 660 448 121
  Net Special Education and Other Education Facilities 322 305 12
Environment:
  Net Environmental Infrastructure Projects (8) 9,336 6,188 1,885
  Net Hazardous Waste Remediation 2,200 933 551
  Net Riverbank State Park  78 18 0
  Net Water Pollution Control (SRF) 1,170 283 0
State Facilities:
  Net Empire State Plaza 133 13 0
  Net Division of State Police Facilities 538 376 96
  Net Division of Military & Naval Affairs 247 156 71
  Net Alfred E. Smith Building 89 0 0
  Net Sheridan Ave. (Elk St.) Parking Garage 25 0 0
  Net State Office Buildings and Other Facilities 1,713 886 562
  Net Judiciary Improvements 38 1 1
  Net OSC State Buildings 52 0 9
  Net Albany Parking Garage (East) 41 0 0
  Net OGS State Buildings and Other Facilities (9) 165 51 32
  Net Equipment Acquisition (COPs) (10) 784 106 0
  Net Food Laboratory 41 1 21
  Net OFT Facilities 21 18 0
  Net Courthouse Improvements 76 0 22
  Gross Prison Facilities  9,866 1,670 3,403
  Net Homeland Security 502 240 93
  Gross Youth Facilities 1,015 480 164
  Net Storm Recovery Capital 538 538 0
  Net Information Technology  1,354 666 395
  Net Nonprofit Infrastructure Capital Investment Program 170 93 52
  Net Statewide Equipment 493 471 15
Health/Mental Hygiene:
  Net Department of Health Facilities (inc. Axelrod) 495 3 68
  Gross Mental Health Facilities  12,418 4,126 2,834
  Net HEAL NY Capital Program 750 95 91
  Net Capital Restructuring Program 5,153 3,881 1,057
Transportation:
  Gross Consolidated Highway Improvement Program (CHIPS) 13,949 2,938 3,895
  Net Dedicated Highway & Bridge Trust 20,649 3,945 4,324
  Net High Speed Rail  22 14 4
  Net Transportation Initiatives 12,308 7,408 4,092
  Net MTA Transportation Facilities 12,516 5,430 6,093
  N/A MTA Service Contract 2,005 0 550
  Net Transportation (TIFIA) 750 750 0
Economic Development:
  Gross Housing Capital Programs 13,635 9,027 1,771
  Net Community Enhancement Facilities (CEFAP)  424 37 7
  Net University Technology Centers (incl. HEAT) (11) 248 13 0
  Net Sports Facilities 145 0 0
  Net Bio-Tech Facilities 10 10 0
  Net Strategic Investment Program 216 13 5
  Net Regional Economic Development (Fund 002) (12) 1,190 36 40
  Net NYS Economic Development (2004) (13) 346 0 12
  Net Regional Economic Development (2004) (14) 243 198 6
  Net High Technology and Development 249 55 25
  Net Regional Economic Development/SPUR 90 12 6
  Net Buffalo Inner Harbor 50 0 2
  Net Economic Development 2006 (Various) (15) 2,310 256 658
  Net Javits Convention Center 1,350 350 813
  Net Queens Stadium (Mets) 75 0 0
  Net Bronx Stadium (Yankees) 75 0 14
  Net NYS Ec Dev Stadium Parking ('06) 75 69 2
  Net State Modernization Projects (RIOC Tram, etc.) 50 15 0
  Net 2008 and 2009 Economic Development Initiatives 1,269 80 173
  Net H.H. Richardson Complex/Darwin Martin House 84 0 18
  Net Economic Development Initiatives 17,656 11,998 3,005
  Net State and Municipal Facilities 3,184 2,209 505
  Net Empire Station Complex 1,300 1,300 0
LGAC Net Local Government Assistance Corporation 4,700 0 0
GO Gross General Obligation 23,635 6,508 1,836
Other State-Supported:
  N/A Secured Hospitals (16) N/A N/A 85
  N/A STARC (16) N/A N/A 1,671
  N/A NYPA (17) N/A N/A 170
Total State-Supported Debt 21,9612 82.104 55,911
* Gross caps include cost of issuance fees. Net caps do not. 
Source:  NYS DOB
  1. Includes only authorized programs that are active at March 31, 2022 or have outstanding program balances or both.
  2. Excludes programs that have repaid all outstanding debt and have program balances of $2 million or less, and SUNY Dormitory Facilities that are no longer financed with State-supported bonds.
  3. Amounts issued may exceed the stated amount authorized by premiums, by providing for the cost of issuance, reserve fund requirements and, in certain circumstances, refunding bonds. In some cases, Authorized but Unissued bond cap amounts have been reduced by the higher of (i) net bond proceeds available to fund program, or (ii) par amount of bonds issued.
  4. Reflects par amounts outstanding for bonds and financing arrangements or gross proceeds outstanding in the case of capital appreciation bonds. Amounts do not reflect accretion of capital appreciation bonds or premiums received.
  5. Authorization also includes any amount necessary to refund outstanding Housing Finance Agency State University Construction Bonds, all of which have been refunded.
  6. Authorization applies to bonds issued after March 31, 2002, prior to that date there was no limit.
  7. The amount outstanding includes CUNY Community Colleges bonds for which the State pays debt service. The total amount authorized for CUNY Senior Colleges was unlimited for resolutions adopted prior to 7/1/85 and limited to $7.982 billion for both CUNY Senior and CUNY Community Colleges for resolutions adopted after 7/1/85.
  8. Includes bonds issued for West Valley, DEC Environmental Infrastructure Projects, Environmental Protection Fund, Onondaga Lake, and the Office of Parks and Recreation and Historic Preservation.
  9. Includes debt outstanding for OGS Buildings: 44 Holland Ave., 50 Wolf Rd., 625 Broadway Ave., Hampton Plaza, and DOT Region 1.
  10. Authorized amounts includes Certificates of Participation, which have been issued as bonds after March 31, 2003.
  11. Includes authorizations for Science and Technology Center (Syracuse), Super Computer Center (Cornell), Center for Telecommunications (Columbia), HEAT, Center for Industrial Innovation (City of Troy), Center for Advanced materials (Clarkson), Center for Electro-Optic (Rochester), Center for Neural Sciences (NYU) and Center for Incubator Facilities.
  12. Includes bonds issued for Community Capital Assistance Program (CCAP), Rebuilding the Empire State Through Opportunities in Regional Economies Program (RESTORE), Empire Opportunity Fund (EOF), Generating Employment Through New York Science Program (Gen*NY*sis), Multi-Modal Transportation Program, and Center of Excellence Program (Laws of 2002).
  13. Includes bonds to be issued for economic development projects outside cities of 1 million or more in population.
  14. Includes bonds issued for the EOF, RESTORE and CCAP.
  15. Includes bonds to be issued for economic development and environmental projects.
  16. Legislation included as part of the FY 2022 Enacted Budget authorized the refunding of all outstanding NYC STARC debt and DASNY Secured Hospital debt in FY 2022.
  17. Legislation included as part of the FY 2023 Enacted Budget and amended in the FY 2024 Enacted Budget authorized $475 million of debt to be issued for the refunding of NYPA capital leases with State agencies.

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