Requires power authority of the state of New York to file a report annually commencing March 31, 2015 with the governor, the comptroller and the chairmen of the assembly ways and means and the senate finance committees, respectively, on its operations and transactions conforming, as far as feasible, with the uniform system of accounts required for electric corporations pursuant to the public service law.
TITLE OF BILL: An act to amend the public authorities law, in relation to prescribing a uniform system of accounts for the power authority of the state of New York
PURPOSE OR GENERAL IDEA OF BILL: To require PASNY to conform their annual report and books of account with the ones submitted by electric and gas corporations to the PSC.
SUMMARY OF SPECIFIC PROVISIONS: Requires PASNY to file an annual report with the Governor, the Comptroller and the fiscal committees Of the Legislature, in exact likeness to the annual report which electric and gas corporations submit to the Public Service Commission. Requires PASNY to conform their books of account with the Uniform System of Accounts of the PSC.
EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER: Amends Sections 1002 of the Public Authorities Law.
JUSTIFICATION: The report the: PASNY presently files with the Governor, the Comptroller and the fiscal committees of the Legislature is comparable to the annual reports that corporations send to their stockholders. These reports tend to be more flash than fact. The uniform system of accounts and the annual report, which this bill asks PASFY to submit to the Governor, the comptroller and the fiscal committees of the Legislature, is a thorough disaggregation of a utility's financial condition with respect to all sales, personnel, plant and equipment. Such a report could shed much more light on the Authority's operations than does the annual report which t:riey are now required to submit.
PRIOR LEGISLATIVE HISTORY: A.918 of 2009-2010: Referred to Corporations A.3293 of 2007-2008; Referred to Corporations A.2713 of 2005-2006; A.2175 of 2004-2005; Referred to Corporations A.2176 of 2001-2002; A.6800 of 1999-2000; A.4765 of 1997-1998; Referred to Corporations A.4038 of 1995-1996; Passed Assembly in 1995
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None.
EFFECTIVE DATE: Immediately.
STATE OF NEW YORK ________________________________________________________________________ 5549 2011-2012 Regular Sessions IN SENATE June 1, 2011 ___________Introduced by Sen. MAZIARZ -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommuni- cations AN ACT to amend the public authorities law, in relation to prescribing a uniform system of accounts for the power authority of the state of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1002 of the public authorities law is amended by adding a new subdivision 3 to read as follows: 3. ON MARCH THIRTY-FIRST, TWO THOUSAND FIFTEEN AND EVERY YEAR THERE- AFTER ON SUCH DATE, THE AUTHORITY SHALL FILE WITH THE GOVERNOR, THE COMPTROLLER, THE CHAIR OF THE ASSEMBLY WAYS AND MEANS COMMITTEE, THE CHAIR OF THE SENATE FINANCE COMMITTEE AND THE AUTHORITY BUDGET OFFICE AN ANNUAL REPORT FOR THE PRECEDING CALENDAR YEAR THAT SHALL CONFORM, IN EXACT LIKE MANNER, TO THE ANNUAL REPORT FILED BY ELECTRIC CORPORATIONS WITH THE PUBLIC SERVICE COMMISSION PURSUANT TO SUBDIVISION SIX OF SECTION SIXTY-SIX OF THE PUBLIC SERVICE LAW. IN SO DOING, THE AUTHORITY SHALL COMPLY WITH THE UNIFORM SYSTEM OF ACCOUNTS REQUIRED FOR ELECTRIC CORPORATIONS PURSUANT TO SUBDIVISION SIX OF SECTION SIXTY-SIX OF THE PUBLIC SERVICE LAW AND ALL APPLICABLE RULES AND REGULATIONS. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07783-03-1