Payments to STARC / NYC
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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 2021 Executive Budget recommends $170 million for the Corporation. This is unchanged from the FY 2020 budget.
| Category | Available FY 2020 |
Appropriations Recommended FY 2021 |
Change From FY 2020 |
Reappropriations Recommended FY 2021 |
|---|---|---|---|---|
| Aid To Localities | 170,000,000 | 170,000,000 | 0 | 0 |
| Total | 170,000,000 | 170,000,000 | 0 | 0 |
| Fund Type | Available FY 2020 |
Recommended FY 2021 |
Change |
|---|---|---|---|
| Debt Service Funds | 170,000,000 | 170,000,000 | 0 |
| Total | 170,000,000 | 170,000,000 | 0 |
| Program | Available FY 2020 |
Recommended FY 2021 |
Change |
|---|---|---|---|
| STARC Payment | |||
| Debt Service Funds | 170,000,000 | 170,000,000 | 0 |
| Total | 170,000,000 | 170,000,000 | 0 |
Note: Most recent estimates as of 01/29/2020