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Payments to STARC / NYC

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Budget Highlights

This local assistance appropriation is required pursuant to Section 3238-a of the Public Authorities Law and is related to the refinancing of prior New York City Municipal Assistance Corporation debt and other debt by the Sales Tax Asset Receivable Corporation (STARC), a local development corporation established by the City of New York.

The FY 2020 Executive Budget recommends $170 million for the Corporation. This is unchanged from the FY 2019 budget.

ALL FUNDS
APPROPRIATIONS
(dollars)
Category Available
FY 2019
Appropriations
Recommended
FY 2020
Change From
FY 2019
Reappropriations
Recommended
FY 2020
Aid To Localities 170,000,000 170,000,000 0 0
Total 170,000,000 170,000,000 0 0

AID TO LOCALITIES
ALL FUNDS FINANCIAL REQUIREMENTS BY FUND TYPE
APPROPRIATIONS
(dollars)
Fund Type Available
FY 2019
Recommended
FY 2020
Change
General Fund 170,000,000 170,000,000 0
Total 170,000,000 170,000,000 0

AID TO LOCALITIES
ALL FUNDS FINANCIAL REQUIREMENTS BY PROGRAM
APPROPRIATIONS
(dollars)
Program Available
FY 2019
Recommended
FY 2020
Change
STARC Payment
General Fund 170,000,000 170,000,000 0
Total 170,000,000 170,000,000 0

Note: Most recent estimates as of 1/15/2019

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