| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jul 01, 2010 |
referred to rules |
Senate Bill S8425
2009-2010 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
Actions
2009-S8425 (ACTIVE) - Details
2009-S8425 (ACTIVE) - Sponsor Memo
BILL NUMBER:S8425
TITLE OF BILL:
An act to amend the public authorities law, in relation to debt
reduction policies for all 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 authori-
ties
SUMMARY OF SPECIFIC PROVISIONS:
Section one stipulates that within 90 days of the passage of this stat-
ute, 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 ground-
breaking. 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 imposi-
tion of debt reduction practices for all state authorities will invari-
ably 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.
2009-S8425 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
8425
I N S E N A T E
July 1, 2010
___________
Introduced by Sen. PERKINS -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the public authorities law, in relation to debt
reduction policies for all 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 NINETY DAYS OF THE EFFECTIVE DATE OF THE CHAPTER OF THE
LAWS OF TWO THOUSAND TEN THAT AMENDED THIS PARAGRAPH, issue recommenda-
tions to the legislature and governor on setting debt limitations for
authorities without statutorily required debt limits AND REQUIRE DEBT
REDUCTION POLICIES FOR ALL STATE AUTHORITIES;
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD17491-03-0
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