The New York State Legislature last week ended a special session, passing an $800 million jobs-creating bond act and a bill allowing Suffolk County to issue deficit bonds and raise taxes to cover its 1992 accumulated deficit.
After three days of bickering over an accord struck two weeks ago, lawmakers approved the measures Thursday night. Still intact Friday, the agreement includes reauthorization for New York City to issue bonds through negotiated sale, and Suffolk County to sell deficit bonds.
Approval for Nassau County's deficit plan was passed earlier last week. Both counties will raise taxes and issue debt to cover accumulated budget deficits for fiscal 1992, which ends Dec. 31.
On Friday morning, Gov. Mario M. Cuomo said he was pleased the bond act had passed. However, he warned he may veto Suffolk and Nassau counties' bonding proposals if their county executives do not like the measures approved by lawmakers.
These items were among several debt-related bills left unfinished after the state Legislature ended its 1992 session earlier this month. On July 19, state lawmakers and Gov. Cuomo reached an agreement on these measures and scheduled last week's special session.
The Legislature also placed Mr. Cuomo's jobs bond act on the November ballot and increased the bonding power of the state jobs development authority. This allows the authority to sell $150 million of additional debt.
Early in the special session, the Legislature approved the state thruway authority's takeover of the canal system in a measure also proposed by Gov. Cuomo.
Senate Majority Leader Ralph J. Marino, R-Muttontown, praised the session on Friday.
"The actions we have taken in the past three days cap a remarkable record of achievement for the 1992 session," Mr. Marino said.
But State Comptroller Edward V. Regan did not share Mr. Marino's view of the session.
The comptroller sharply criticized the Thruway proposal, calling it "fiscally regressive."
Mr. Regan said the expanded powers will allow the authority to sell more bonds without taxpayer approval. The thruway authority, like all public authorities in the state, does not need voter approval to sell bonds.