Authorizes the authority to develop agriculture facilities in the Genesee Valley Regional Market District.
TITLE OF BILL: An act to amend the public authorities law, in relation to the Genesee Valley Regional Market District
PURPOSE OF THE BILL: To fulfill the authority's mission to assure proper development of agriculture and regional market facilities in the Genesee Valley Regional Market District.
SUMMARY OF PROVISIONS: Section 1. Amends subdivision 6 of section 878 of the public authorities law by adding the term agriculture and market facilities.
Section 2. Effective date.
JUSTIFICATION: The 2010-2011 State Budget instituted several reforms to the statute governing the Genesee Valley Regional Market Authority. This included requiring that no less than seventy-five percent of the authority's annual surplus be reinvested into local agricultural projects within the area.
This legislation clarifies that budget language to fulfill the full purpose of the authority by including agricultural facilities and not only farmers markets to qualify for funding by the Genesee Valley Regional Market Authority.
LEGISLATIVE HISTORY: New Bill.
FISCAL IMPLICATIONS: None to the State.
EFFECTIVE DATE: This act shall take effect immediately.
STATE OF NEW YORK ________________________________________________________________________ 5452 2011-2012 Regular Sessions IN SENATE May 24, 2011 ___________Introduced by Sen. ALESI -- 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 the Genesee Valley Regional Market District THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 6 of section 878 of the public authorities law, as added by section 1 of part JJ of chapter 59 of the laws of 2010, is amended to read as follows: 6. In fulfilling the authority's mission, the board shall work cooper- atively and in consultation with the department of agriculture and markets to assure the proper development of AGRICULTURE AND regional market facilities, in the Genesee Valley Regional Market District. The board and the department of agriculture and markets shall jointly devel- op a plan for the future development and viability of AGRICULTURE AND regional market facilities in the district. Such plan shall include both short term and long term goals and objectives as well as actual and projected revenues and expenditures. Such plan shall annually allocate no less than seventy-five percent of the authority's available funds for the creation, development, and enhancement of AGRICULTURE AND regional market facilities, in the district. For purposes of this subdivision, available funds shall mean the net amount available after contractually obligated expenditures are subtracted from, but not be limited to, cash, cash equivalents, certificates of deposit, and other receivables avail- able. The board and department shall meet annually prior to the close of the authority's fiscal year to evaluate the effectiveness of the use of funds for that fiscal year, review the goals and objectives of the plan, and properly prepare for the allocation and use of such funds for the next fiscal year. The plan shall be updated annually to make appropriate modifications to such plan for the next fiscal year. Prior to any suchEXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11775-01-1 S. 5452 2
funds being expended, both the board and the department must approve such plan, its goals and objectives as well as the projected revenues and proposed allocations. The Genesee Valley Regional Market Authority shall furnish an annual real estate report detailing all real estate holdings and detailed prop- erty information, including but not limited to the tenants, important lease terms, rents, durations of leases, as well as copies of each lease. Notwithstanding any other provision of law to the contrary, the Genesee Valley Regional Market Authority shall furnish all required reports, audits, and reviews, including the annual real estate report, to all parties enumerated in paragraph (a) of subdivision one of section twenty-eight hundred of this chapter as well as to the department of agriculture and markets, within ninety days after the end of its fiscal year. S 2. This act shall take effect immediately.