New York Alzheimer's Research Bond Act (2016)
| Initiative and Referendum Amendment | |
|---|---|
 | |
| Type | Amendment |
| Origin | New York legislature |
| Topic | Bond issues |
| Status | Not on the ballot |
| Not on Ballot |
|---|
 |
| This measure was not put on an election ballot |
The New York Alzheimer's Research Bond Act did not make the November 8, 2016 ballot in New York as a legislatively referred bond question. The measure, upon voter approval, would have authorized the state to issue $1 billion in bonds for the purpose of funding "research grants and financing collaborations related to scientific research of Alzheimer's disease including causes, treatment and clinical trials of medications."[1]
Text of measure
The proposed ballot question was:[1]
| “ | Shall section one of chapter (here insert the number of the chapter) of the laws of 2016 known as the Alzheimer's research bond act of 2016, which provides funding for critical research into the causes and treatment of Alzheimer's disease by authorizing the creation of state debt to provide moneys therefor in the amount of one billion dollars ($1,000,000,000), be approved?[2] | ” |
Support
Justification
Sponsors of Bill A01475 included the following "Justification:"[1]
| “ | The cost of treating Alzheimer's in the U.S. is expected to increase from $203 billion in 2013 to $1.2 trillion by 2050. Exploring treatments and cures for the disease poses unique challenges, especially because the latest research indicates that the onset of Alzheimer's disease comes long before a formal diagnosis. Because longterm studies may be necessary to find effective treatments, pharmaceutical companies and research institutions must bear huge costs up-front before seeing the results of their investments bear fruit. Federal investments in researching the disease are currently at an all-time low.
This legislation will provide for the creation of a $1 billion voter approved general obligation State debt for the purpose of funding Alzheimer's research in the State of New York. By issuing taxpayer approved bonds for Alzheimer's research, the State of New York can utilize an innovative approach to find and leverage new revenues. This funding can be used to provide research grants and other financing to collaborations of New York institutions and researchers while creating jobs and funding essential research and clinical trials, which will result in New York being at the very forefront of discovering a cure for this dread disease.[2] |
” |
Path to the ballot
- See also: Authorizing bond referendums in New York
According to Section 11, Article VII of the New York Constitution, a majority vote is required in the legislature in order to qualify the bond question for the statewide ballot. The measure is required to be passed by the legislature at least three months before the 2016 general election. The legislature did not act on the measure before adjourning on June 16, 2016.
See also
Footnotes
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State of New York Albany (capital) |
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