New York Comptroller Thomas DiNapoli last week announced his proposal to limit the state’s bonding power at 5% of personal income, up from the current 4% ceiling, and said the Empire State should develop a long-range plan that identifies the state’s infrastructure needs, a tool that could help officials prioritize capital projects.

DiNapoli on Friday spoke about the state’s debt burdens before the Citizens Budget Commission in Manhattan in conjunction with the release of his debt impact study. The study finds that current borrowing practices for the state, including side-stepping the 4% bonding capacity limit via state authorities, must end and a realistic borrowing cap should be in place.

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