New York Proposal 1, Authorizing Additional State Debt for Low-Rent Housing Measure (1975)
| New York Proposal 1 | |
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| Election date |
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| Topic Bond issues and Housing development funding |
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| Status |
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| Type Bond issue |
Origin |
New York Proposal 1 was on the ballot as a bond issue in New York on November 4, 1975. It was defeated.
A "yes" vote supported authorizing the issuance of $250 million in bonds for the development of low-rent housing. |
A "no" vote opposed authorizing the issuance of $250 million in bonds for the development of low-rent housing. |
Election results
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New York Proposal 1 |
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| Result | Votes | Percentage | ||
| Yes | 1,110,419 | 36.11% | ||
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1,964,681 | 63.89% | ||
Text of measure
Ballot title
The ballot title for Proposal 1 was as follows:
| “ | Shall chapter 554 of the laws of nineteen hundred seventy-five entitled "An act authorizing the creation of an additional state debt in the aggregate amount of two hundred fifty million dollars for low rent housing purposes under and pursuant to article eighteen of the constitution, authorizing the issuance and sale of bonds to said amount, authorizing loans to be made from the proceeds thereof pursuant to such article, making an appropriation to the state division of housing and community renewal for loans to limited profit housing companies established to provide housing for the aged, and providing for the submission to the people of a proposition or question therefor to be voted upon at the general election to be held in November, nineteen hundred seventy-five" be approved? | ” |
Path to the ballot
According to Section 11 of Article VII of the New York Constitution, the state's general obligation bonds require voter approval, except for certain short-term debts; debts to "repel invasion, suppress insurrection, or defend the state in war;" and debts to suppress wildfires.
A simple majority vote is required during one legislative session for the New York State Legislature to place a bond issue on the ballot. That amounts to a minimum of 126 votes in the New York State Assembly and 32 votes in the New York State Senate, assuming no vacancies. Bonds require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of New York Albany (capital) |
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