Prohibits bonuses for employees, officers and members of governing boards of state authorities who are members of the New York State retirement system, as a result of or by virtue of employment or membership in the public authority.

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S2500-2013 Actions

• Jan 18, 2013: REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

S2500-2013 Memo

BILL NUMBER:S2500

TITLE OF BILL:  An act to amend the public authorities law, in
relation to prohibiting bonuses for employees, officers and members of
governing boards of state authorities who are members of the New York
State retirement system

PURPOSE OR GENERAL IDEA OF BILL: The purpose of the bill is to remove
the ability of public authorities to pay bonuses to employees,
officers or members of governing boards who participate in the New
York State retirement system as a result of their association with
such public authority.

SUMMARY OF SPECIFIC PROVISIONS: Section One - adds a section 2854 of
the Public Authorities Law that prohibit the payment of bonuses of any
nature to any employee, officer or member of a governing board of a
state agency who is a member of the New York State retirement system
as a result or by virtue of employment or membership in the state
authority.

Section Two - Effective date.

JUSTIFICATION: Recent articles have reported New York State Public
Authorities paying bonuses on top of lucrative salaries and other
benefits, including participation in the state retirement system.
While bonuses may be appropriate in the private sector, taking into
account the state retirement benefits that are not available to
employees in the private sector, in times of fiscal crisis, state
authorities should not be authorizing bonuses.

PRIOR LEGISLATIVE HISTORY: 2011-12 - S.4484 -- CORPORATIONS

FISCAL IMPLICATIONS: This bill would lead to cost savings for the
state and state agencies.

EFFECTIVE DATE: This act shall take effect immediately.

S2500-2013 Text

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

                                    2500

                         2013-2014 Regular Sessions

                              I N  SENATE

                              January 18, 2013
                                 ___________

  Introduced  by  Sens.  RANZENHOFER,  DeFRANCISCO, LARKIN, LIBOUS -- read
    twice and ordered printed, and when printed to  be  committed  to  the
    Committee on Corporations, Authorities and Commissions

  AN  ACT  to amend the public authorities law, in relation to prohibiting
    bonuses for employees, officers and members  of  governing  boards  of
    state  authorities  who  are  members of the New York State retirement
    system

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


    Section  1.  The  public  authorities  law  is amended by adding a new
  section 2854 to read as follows:

    S 2854. PROHIBITION ON PAYMENT OF BONUSES FOR CERTAIN EMPLOYEES, OFFI-
  CERS AND MEMBERS OF GOVERNING BOARDS. NO BONUS OF ANY  NATURE  SHALL  BE
  PAID  TO ANY EMPLOYEE, OFFICER OR MEMBER OF A GOVERNING BOARD OF A STATE
  AUTHORITY WHO IS A MEMBER OF THE NEW YORK STATE RETIREMENT SYSTEM, AS  A
  RESULT OF OR BY VIRTUE OF EMPLOYMENT OR MEMBERSHIP IN THE STATE AUTHORI-
  TY.
    S 2. This act shall take effect immediately.





   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD05163-01-3