senate Bill S1395A

Amended

Relates to debt limitation recommendations for state authorities

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 07 / Jan / 2011
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 05 / May / 2011
    • AMEND (T) AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 05 / May / 2011
    • PRINT NUMBER 1395A
  • 06 / Jun / 2011
    • REPORTED AND COMMITTED TO FINANCE
  • 21 / Dec / 2011
    • AMEND AND RECOMMIT TO FINANCE
  • 21 / Dec / 2011
    • PRINT NUMBER 1395B
  • 04 / Jan / 2012
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 19 / Mar / 2012
    • REPORTED AND COMMITTED TO FINANCE

Summary

Relates to debt limitation recommendations for state authorities.

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Bill Details

See Assembly Version of this Bill:
A6310A
Versions:
S1395
S1395A
S1395B
Legislative Cycle:
2011-2012
Current Committee:
Senate Finance
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง6, Pub Auth L
Versions Introduced in 2009-2010 Legislative Cycle:
S8425, A11222A

Votes

6
0
6
Aye
0
Nay
0
aye with reservations
0
absent
0
excused
0
abstained
show Corporations, Authorities and Commissions committee vote details

Sponsor 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.

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

                                 1395--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             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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