Relates to debt limitation recommendations for state authorities.

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S1395B-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

S1395B-2011 Meetings

Corporations, Authorities and Commissions: Mar 19, 2012

S1395B-2011 Votes

S1395B-2011 Memo

BILL NUMBER:S1395B

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:
S.1395A of 2010-2011 - Passed Corporations, Authorities & Commissions;
Reported to Finance
S.8425 of 2009-2010 - Referred to Rules

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

S1395B-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                   1395--B

                         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  --  reported
    favorably  from  said  committee  and  committed  to  the Committee on
    Finance -- 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 TWELVE 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.
                                                             LBD04146-04-1