BILL NUMBER:A10175
TITLE OF BILL: An act to amend the public authorities law, in
relation to establishing a twelve month moratorium on any sale,
takeover or dissolution of the assets of the Genesee Valley Regional
Market Authority or of the authority itself; and providing for the
repeal of such provisions upon expiration thereof
PURPOSE OF BILL: To halt the dissolution of the Genesee Valley
Regional Market Authority for one year.
SUMMARY OF PROVISIONS: Section 1: Amends the public authorities law to
add a new section 878-a to establish a twelve month moratorium on any
sale, takeover or dissolution of the debt or liquidation of the assets
or operations of the Genesee Valley Regional Market Authority or of
the authority itself.
JUSTIFICATION:S: As part of Governor Paterson's proposed 21-day
Amendments, there is a plan to repeal the Genesee Valley Regional
Market Authority, an independent State Public Authority created in
1951, and transfer its assets to Empire State Development Corporation.
The Genesee Valley Regional Market Authority serves as a centrally
located food distribution center located on 123 acres in the Town of
Henrietta, Monroe County. There are 160 companies doing business on
the property.
S T A T E O F N E W Y O R K
________________________________________________________________________
10175
I N A S S E M B L Y
March 9, 2010
___________
Introduced by M. of A. ERRIGO -- read once and referred to the Committee
on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to establishing
a twelve month moratorium on any sale, takeover or dissolution of the
assets of the Genesee Valley Regional Market Authority or of the
authority itself; and providing for the repeal of such provisions upon
expiration thereof
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 878-a to read as follows:
S 878-A. TWELVE MONTH MORATORIUM. THERE SHALL BE ESTABLISHED A TWELVE
MONTH MORATORIUM ON ANY SALE, TAKEOVER OR DISSOLUTION OF THE DEBT OR
LIQUIDATION OF THE ASSETS OF OPERATIONS OF THE GENESEE VALLEY REGIONAL
MARKET AUTHORITY OR OF THE AUTHORITY ITSELF.
S 2. This act shall take effect immediately and shall expire and be
deemed repealed one year after such effective date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16082-02-0
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