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Bond Caps and Debt Outstanding

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FY 2026 Bond Caps and Debt Outstanding

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STATE-RELATED DEBT
FY 2026 BOND CAPS AND DEBT OUTSTANDING
(millions of dollars) (1)
  Type
of Cap
(Gross or Net) (2)		 Program FY 2026
Bond Caps		 Authorized
But
Unissued (3)		 Debt
Outstanding (4)
As of 3/31/25
Education:
  Net SUNY Educational Facilities (5) 20,948 5,553 8,360
  Net SUNY Upstate Community Colleges (6) 1,496 388 687
  Net CUNY Educational Facilities 12,300 3,452 4,324
  Net School District Capital Outlay Grants 140 40 0
  Net Transportation Transition Grants 80 12 0
  Net Higher Education Capital Matching Grants 425 192 76
  Net EXCEL 2,600 15 663
  Net Library Facilities 455 207 71
  Net Cultural Education Storage Facilities 79 69 0
  Net State Longitudinal Data System 20 10 0
  Net SUNY 2020 Challenge Grants 660 446 123
  Net Special Education and Other Education Facilities 440 392 40
Environment:
  Net Environmental Infrastructure Projects (7) 14,481 9,869 2,991
  Net Hazardous Waste Remediation 3,450 1,926 677
  Net Riverbank State Park  78 18 0
  Net Water Pollution Control (SRF) 1,404 517 0
State Facilities:
  Net Empire State Plaza 133 13 0
  Net Division of State Police Facilities 550 349 118
  Net Division of Military & Naval Affairs 397 246 123
  Net State Office Buildings and Other Facilities 2,168 1,175 656
  Net Judiciary Improvements 38 1 1
  Net OSC State Buildings 52 0 9
  Net OGS State Buildings and Other Facilities (8) 165 51 5
  Net Equipment Acquisition (COPs) (9) 784 106 0
  Net Food Laboratory 41 1 14
  Net OFT Facilities 21 18 0
  Net Courthouse Improvements 76 0 18
  Net Prison Facilities  11,117 2,377 3,404
  Net Homeland Security 551 258 109
  Net Youth Facilities 1,218 652 176
  Net Storm Recovery Capital (10) 0 0 0
  Net Information Technology  1,873 1,156 263
  Net Nonprofit Infrastructure Capital Investment Program 170 73 63
  Net Statewide Equipment 693 662 14
Health/Mental Hygiene:
  Net Department of Health Facilities (inc. Axelrod) 495 3 31
  Net Mental Health Facilities  13,640 4,614 2,873
  Net HEAL NY Capital Program 750 95 62
  Net Capital Restructuring Program 6,168 4,242 1,601
Transportation:
  Net Consolidated Highway Improvement Program (CHIPS) 15,822 4,500 3,387
  Net Dedicated Highway & Bridge Trust 22,309 5,606 3,118
  Net High Speed Rail  22 14 3
  Net Transportation Initiatives 17,030 10,673 5,084
  Net MTA Transportation Facilities 15,516 7,629 6,510
  N/A MTA Service Contract 2,005 0 344
  Net Transportation (TIFIA) 750 750 0
Economic Development:
  Net Housing Capital Programs 16,778 11,442 1,831
  Net Community Enhancement Facilities (CEFAP)  424 36 7
  Net University Technology Centers (incl. HEAT) (11) 248 13 0
  Net Bio-Tech Facilities 10 10 0
  Net Strategic Investment Program 216 11 5
  Net Regional Economic Development (Fund 002) (12) 1,190 32 22
  Net NYS Economic Development (2004) (13) 346 0 0
  Net Regional Economic Development (2004) (14) 243 191 10
  Net High Technology and Development 249 42 21
  Net Regional Economic Development/SPUR 90 11 5
  Net Buffalo Inner Harbor 50 0 2
  Net Economic Development 2006 (Various) (15) 2,310 244 499
  Net Javits Convention Center 1,350 350 787
  Net Bronx Stadium (Yankees) 75 0 0
  Net NYS Ec Dev Stadium Parking ('06) 75 69 1
  Net State Modernization Projects (RIOC Tram, etc.) 50 15 0
  Net 2008 and 2009 Economic Development Initiatives 1,269 51 136
  Net H.H. Richardson Complex/Darwin Martin House 84 0 16
  Net Economic Development Initiatives 23,705 17,498 2,805
  Net State and Municipal Facilities 3,184 1,786 848
  Net Empire Station Complex 1,300 1,300 0
GO Gross General Obligation 23,635 5,590 2,269
Other State-Supported:
  N/A STARC (16) N/A N/A 572
  N/A NYPA (17) N/A N/A 31
Total State-Supported Debt 250,492 107,064 55,866

Symbol-Keyed Footnotes

* Gross caps include cost of issuance fees. Net caps do not.
Source:  NYS DOB

Numbered Footnotes

  1. Includes only authorized programs that are active or have outstanding program balances for the fiscal year ending March 31, 2025. Excludes programs that have repaid all
  2. Gross caps include cost of issuance fees. Net caps do not. Legislation included as part of the FY 2026 Enacted Budget converted all Gross bond caps (GO excluded) to Net caps for new issuances beginning April 1, 2025.
  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. 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.
  8. Includes debt outstanding for OGS Buildings: 44 Holland Ave., 50 Wolf Rd., 625 Broadway Ave., Hampton Plaza, and DOT Region 1.
  9. Authorized amounts includes Certificates of Participation, which have been issued as bonds after March 31, 2003.
  10. Repealed by Section 56 of Part MM of Chapter 56 of the laws of 2025.
  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 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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