S1395A-2011 Actions

• Mar 19, 2012: REPORTED AND COMMITTED TO FINANCE
• Jan 4, 2012: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
• Dec 21, 2011: PRINT NUMBER 1395B
• Dec 21, 2011: AMEND AND RECOMMIT TO FINANCE
• Jun 6, 2011: REPORTED AND COMMITTED TO FINANCE
• May 5, 2011: PRINT NUMBER 1395A
• May 5, 2011: AMEND (T) AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
• Jan 7, 2011: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

S1395A-2011 Meetings

S1395A-2011 Votes

S1395A-2011 Memo

BILL NUMBER:S1395A

TITLE OF BILL:
An act
to amend the public authorities law, in relation to debt limitation
recommendations for state authorities

PURPOSE OR GENERAL IDEA OF BILL:
This bill will alter the portion of the 2009 Public Authorities Reform
Act that deals with the setting of debt limitations by public
authorities.

SUMMARY OF SPECIFIC PROVISIONS:
Section one stipulates that within 180 days of the passage of this
statute, the Authorities Budget Office must additionally implement
debt reduction practices for all state public authorities. Section
two states the effective date.

JUSTIFICATION:
The Authorities Budget Office, whose role was defined in the
groundbreaking. Public Authorities Reform Act of 2009, is an
ever-changing institution whose mission and procedural goals are
still evolving. In light of recent events, it has become clear that
the mandatory imposition of debt reduction practices for all state
authorities will invariably lead to less waste and abuse by state
authorities, and be a useful step forward in creating transparency
and efficiency within these vital government entities.

PRIOR LEGISLATIVE-HISTORY:
2010: Referred to Rules (S.8425)

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

S1395A-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 1395--A
 2011-2012 Regular Sessions
 I N  SENATE
 January 7, 2011
 
 Introduced  by  Sen. PERKINS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Corporations,  Authorities
 and   Commissions  --  committee  discharged,  bill  amended,  ordered
 reprinted as amended and recommitted to said committee
 

AN ACT to amend the public authorities law, in relation to debt  limita
 tion recommendations for 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 ONE HUNDRED EIGHTY DAYS OF THE EFFECTIVE DATE OF THE CHAP
 TER OF THE LAWS OF TWO THOUSAND  ELEVEN  THAT  AMENDED  THIS  PARAGRAPH,
 issue  recommendations  to  the legislature and governor on setting debt
 limitations for authorities without statutorily required debt limits;
 

S 2. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04146-03-1

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