New York Law News June 2014

Successful Bond Sale Underscores Investor Confidence in New York
Albany, NY (June 24, 2014)

Governor Andrew M. Cuomo today announced strong results of the sale of $1.2 billion in New York State Personal Income Tax Revenue Bonds. This sale follows two recent credit rating upgrades and displays continuous improvement with regards to New York’s economy. On Friday, Fitch Ratings upgraded New York’s credit rating to AA+ with stable outlook, following the upgrade from Moody’s Investor Services to Aa1, their highest rating of New York since 1964. This is solid evidence that investor interest is strong, which resulted in very favorable pricing for the State.

“This latest display of investor confidence is another strong affirmation of the progress that we have made in turning around our state over the past four years,” said Governor Cuomo. “Following ratings upgrades from both Fitch and Moody’s last week, this sale of Personal Income Tax Revenue Bonds is continuing to show that New York is on the move and the best days are yet to come.”

NY Partners With Leading Non Profits to Increase Minority and Female Enrollment In STEM Incentive Program

Leading non-profit organizations to increase enrollment of underrepresented students in college scholarship program that lead to STEM careers

Albany, NY (June 24, 2014)

Governor Andrew M. Cuomo today announced that the state will partner with leading non-profit organizations to encourage underrepresented students to pursue Science, Technology, Engineering and Mathematics (STEM) fields of study in college. This statewide outreach will recruit African-Americans, Latinos and women who are in the top ten percent of their high school graduating class to sign up for the Governor’s STEM Incentive Program, which offers full SUNY and CUNY scholarships to high school students that pursue high-demand, high-tech careers and build their future in New York.

“When it comes to building the economy of tomorrow, New York’s students hold limitless potential,” Governor Cuomo said. “With STEM fields linked to the enrichment of New York’s education system and new economic opportunities, it is imperative that students in underrepresented communities across New York have access to programs in those disciplines. By implementing the STEM Incentive Program, students can diversify their skills and become more talented in fields that will foster growth and innovation for future New York State.”

Governor Cuomo Signs Legislation to Combat Heroin, Opioid and Prescription Drug Abuse Epidemic
“Good Samaritan” Protection Also Granted to Individuals Administering Anti-Overdose Medication

Albany, NY (June 24, 2014)

Governor Andrew M. Cuomo today signed legislation designed to combat the growing heroin and opioid epidemic in communities across the State. Last week, the Governor and legislative leaders reached an agreement on multiple bills that include new programs and insurance reforms to improve treatment options for individuals suffering from heroin and opioid addiction; measures to strengthen penalties and put in place additional tools for law enforcement to crack down on the distribution of illegal drugs; provisions to ensure the proper and safe use of naloxone, an overdose antidote; and support for enhanced public awareness campaigns to prevent drug abuse. Governor Cuomo signed the legislation – which also builds on administrative actions being taken by the State to combat heroin – during an event at the Burchfield Penney Arts Center in Buffalo, New York.

In addition, the Governor today signed legislation granting “Good Samaritan” protections to individuals who administer an opioid antagonist like naloxone, which can reverse the effects of a heroin overdose. The bill also ensures that health care professionals can now prescribe naloxone by non-patient-specific prescription, which means that every police officer or other first responder will have greater access to this life saving medicine. Pharmacists, using their professional expertise, will also be able to dispense naloxone to anyone who needs it.

“Communities across and beyond New York are struggling with the epidemic of heroin abuse, but today we are taking a stand to combat this public health crisis,” Governor Cuomo said. “This legislation combats the rise of heroin by reinforcing our laws, improving treatment options, instituting tougher penalties for traffickers, and training first responders and other emergency or law enforcement personnel in how to use life-saving anti-overdose medication. Tackling New York’s heroin epidemic requires a thorough and comprehensive approach, and this legislation is crucial to that – I thank the many advocates, family members and legislators who made it a reality and I am proud to sign it into law today. We know that this is an issue impacting families across the state, and today we are doing something about it.”

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