- A new statute enacted in this year’s
state budget plan will allow New York to issue a $1 billion
sales tax bonds for the first time in 18 years;
- The offering is part of a plan by the state to
consolidate the type of bond offerings to high rated, more
attractive issuances with a lower cost to the
- The bonds have received a AAA rating from S&P
and AA outlook positive from Fitch.
New York state will issue its first sales tax bond
in 18 years under a new statute enacted in this year’s state
budget on October 17th. Their
reintroduction forms part of the state’s bond
The new structure will be similar to New York’s
person income tax (PIT) bond,...