Actions

Text

STATE OF NEW YORK
________________________________________________________________________

4675

2011-2012 Regular Sessions

IN ASSEMBLY

February 4, 2011
___________

Introduced  by  M.  of  A.  P. RIVERA  --  read once and referred to the
  Committee on Corporations, Authorities and Commissions

AN ACT to  amend  the  public  authorities  law,  in  relation  to  debt
  reduction policies for all state authorities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (m) of subdivision 1 of section 6 of  the  public
authorities law, as added by chapter 506 of the laws of 2009, is amended
to read as follows:
  (m)  WITHIN  NINETY  DAYS  OF THE EFFECTIVE DATE OF THE CHAPTER OF THE
LAWS OF TWO THOUSAND ELEVEN THAT AMENDED THIS PARAGRAPH, issue recommen-
dations to the legislature and governor on setting debt limitations  for
authorities  without  statutorily  required debt limits AND REQUIRE DEBT
REDUCTION POLICIES FOR ALL STATE AUTHORITIES;
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04146-01-1