Extensions Also Granted for Local Governments to Meet Bond Payments to the Environmental Facilities Corporation
Governor Andrew Cuomo today announced extensions
for State Department of Motor Vehicles renewal deadlines for all driver
licenses, learner permits, non-driver ID cards and vehicle registrations, as
well as extensions for certain State Department of Taxation and Finance tax
filing and payment deadlines for taxpayers directly affected by the storm, in
response to emergency conditions resulting from Hurricane Sandy.
In addition, the Governor also announced
extensions for local governments to meet bond payments to the Environmental
Facilities Corporation.
“We are continuing to learn more about the extent of damage from the storm
across New York, and state agencies are working hard to measure the needs of
New Yorkers and local governments and to carry out response efforts,” stated Governor
Cuomo.
“Therefore, providing extensions for deadlines
such as license renewals and tax and bond payments means one less thing that
New Yorkers impacted by the storm have to worry about.”
DMV extends renewal deadlines due to
Hurricane Sandy
The State Department of Motor Vehicles (DMV) announced today that due to the
impact of Hurricane Sandy, all driver licenses, learner permits, non-driver
identification cards and vehicle registrations scheduled to expire on or before
Tuesday, November 13, 2012 are extended until Wednesday, November 14, 2012.
This extension applies only to residents of New York City, and the counties of
Westchester, Nassau and Suffolk. It does not apply to insurance coverage
requirements. Motor vehicle liability insurance coverage must be maintained at
all times during this extension period.
Vehicle inspections, which expire on the last day of the month, are not
included in the extension. Also, all DMV hearings, including Traffic Violations
Bureau hearings scheduled through Friday, November 2, 2012, in New York City,
Nassau, Westchester and Suffolk counties, are being postponed. If you have a
hearing scheduled, please do not appear at the hearing site.
You will be notified of a rescheduled hearing
date by mail. For hearings scheduled on or after Monday, November 5, 2012,
please check our web site for updates and additional information at http://www.dmv.ny.gov.
Motorists who cannot get to a DMV or may have
forgotten to renew their vehicle registrations on time can print a temporary
10-day proof of registration when they renew their registrations online. This
is one of several online services DMV offers.
By signing up for MyDMV, customers gain quick
and easy access to a variety of personalized and secure online services without
mailing in forms or making a trip to a local DMV office. For additional
information, visit www.dmv.ny.gov.
Extended
Tax Filing and Payment Deadline for Taxpayers
The State Department of Taxation
and Finance today announced the
extension of certain tax filing and payment deadlines for taxpayers directly
affected by the storm, in response to emergency conditions resulting from the
hurricane.
All 62 New York State counties are eligible for these extensions since Governor
Cuomo had declared a state of emergency in New York and President Obama has
authorized federal aid and assistance for the State.
Deadlines have been extended to November 14, 2012. This covers filings and tax
payments due during the period beginning October 26, 2012 and ending on or
before November 13, 2012.
Additionally, the extension applies to all claims for refunds, including a
protective claim associated with the Metropolitan Commuter Transportation
Mobility Tax.
The Department’s website – www.tax.ny.gov – has posted two new
documents to provide guidance on these extensions:
Announcement Regarding Hurricane Sandy, N-12-11
Special Waiver of Highway Use Tax and IFTA credentials Related to Hurricane
Sandy Disaster Relief Efforts, N-12-10.
New York State Tax employees have been staffing the Hurricane Sandy Helpline at (888) 769-7243, with more than 300 state employees taking
calls right now.
Extended Bond Payment Deadlines for
Local Governments
The State Environmental
Facilities Corporation (EFC)
announced today it will help the Orange County Village of Greenwood Lake and other
communities affected by Hurricane Sandy to meet bond payments owed on municipal
wastewater and drinking water projects.
EFC will help these communities to avoid potentially defaulting on their bond
obligations by giving them an extra month to make their scheduled payments.
Those payments were due yesterday, but EFC took steps necessary to advance
those payments on behalf of the affected municipalities.
While many communities were able to make their
payments on time, officials in Greenwood and other municipalities without power
could not transfer the necessary funds.
EFC is the arm of New York State government that helps communities pay for
major investments in their drinking water and wastewater systems. As the
administrator of the nation’s largest revolving funds for drinking water and
wastewater infrastructure, EFC has provided more than $12.5 billion in grants
and loans for more than 1,550 water-quality projects throughout the state.
As municipalities repay these loans, those
dollars are used for loans to new projects -- a true revolving fund. EFC issues
bonds at AAA/Aaa rates to fund most of the projects it finances for
municipalities, using the municipal repayments and investment earnings to repay
bondholders.
New York State is known as a national leader in maximizing the federal and
state funds that are allocated each year to the Clean Water and Drinking Water
State Revolving Funds.
EFC annually finances several hundred millions
dollars of drinking water and wastewater projects, and has continuously
developed state-of-the-art investment strategies to generate investment returns
to expand the funds available for these projects.
EFC’s investment strategies were praised last
year in a report by the Environmental Financial Advisory Board of the U.S. Environmental
Protection Agency.
Unlike some other states, New York is using its revolving loan funds and its
top credit ratings to help municipalities take advantage of today’s lower
interest rates.
This year, EFC is refinancing more than $1.1
billion in local government debt, saving municipalities and local ratepayers
more than $353 million over the next 20 years.
Image courtesy of http://clipart.edigg.com.