Authorizes the creation of state debt in the amount of 1 billion dollars in creating the Alzheimer's research bond act of 2025; provides for submission to the people of such proposal.
Summary
S06509 would create the “Alzheimer’s Research Bond Act of 2025,” authorizing New York to incur up to $1 billion in state debt to fund research related to Alzheimer’s disease. The money would be used for research grants and collaborations focused on the causes, treatment, and clinical trials of medications for Alzheimer’s, and could support programs run by state or local agencies, not-for-profit entities, and higher education institutions.
The bill is structured as a bond act and would require voter approval at the November 2025 general election before the debt authorization takes effect. It also directs that the bonds be issued as tax-exempt bonds, subject to federal tax law requirements, and allows the state comptroller to issue and sell the bonds under state finance law. If approved, the act would take effect immediately and the proceeds would be appropriated for the specified research purposes.
Impact
If enacted and approved by voters, the bill would amend New York’s authority to create state debt by adding a new $1 billion bond authorization dedicated solely to Alzheimer’s research. It would not directly change clinical or health-care regulations, but it would create a new funding stream for research grants and collaborations involving public agencies, nonprofits, and universities. The measure would also require bond issuance and administration to comply with federal tax-exempt bond rules and existing state finance law.
Sentiment
The available record suggests the bill is framed positively as a targeted public investment in medical research, with an emphasis on addressing a serious disease affecting many families. Because there are no committee transcripts or recorded votes in the provided materials, there is no documented opposition or support beyond the bill’s introduction and referral. The overall tone of the proposal is policy-driven and supportive of Alzheimer’s research funding.
Contention
The main potential point of contention is the size and mechanism of the funding: the bill authorizes up to $1 billion in state debt, which may raise concerns about borrowing, fiscal exposure, and the use of general obligation-style bond financing for research. Another possible issue is whether the state should fund Alzheimer’s research through debt rather than through annual appropriations or other budgetary mechanisms. No specific objections, amendments, or opposing arguments are included in the provided materials.
Authorizes the creation of state debt in the amount of 5 billion dollars in creating the New York state master plan on aging 2026 bond act; provides for submission to the people of such proposal.
Authorizes the creation of state debt in the amount of 5 billion dollars in creating the New York state master plan on aging 2026 bond act; provides for submission to the people of such proposal.
Authorizes the creation of state debt in the amount of 1 billion dollars in creating the Alzheimer's research bond act of 2023; provides for submission to the people of such proposal.
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Increases the maximum amount of the Kingston water district bonding authority from four million dollars ($4,000,000) to fifteen million dollars ($15,000,000).
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