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Assembly Bill A3228A

2011-2012 Legislative Session

Prohibits the formation of a subsidiary of a public authority without prior approval of the legislature

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

co-Sponsors

multi-Sponsors

2011-A3228 - Details

See Senate Version of this Bill:
S4690
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2827-a, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4298, S3919
2013-2014: A1599, S1443
2015-2016: A4729, S2054, S6591
2017-2018: A7049, S4280
2019-2020: A3089, S3090
2021-2022: A4078, S5137
2023-2024: A1768, S979
2025-2026: A2479, S2377

2011-A3228 - Summary

Prohibits the formation of a subsidiary of a public authority without prior approval of the legislature.

2011-A3228 - Bill Text download pdf 

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

                                  3228

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2011
                               ___________

Introduced  by  M.  of A. COLTON, ZEBROWSKI, JAFFEE, SPANO, SCHROEDER --
  Multi-Sponsored by -- M. of A. CASTELLI, McDONOUGH --  read  once  and
  referred to the Committee on Corporations, Authorities and Commissions

AN  ACT  to amend the public authorities law, in relation to prohibiting
  the formation of a subsidiary of  a  public  authority  without  prior
  permission of the legislature

  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 2829 to read as follows:
  S  2829.  SUBSIDIARIES  OF PUBLIC AUTHORITIES.  1. NOTWITHSTANDING ANY
OTHER PROVISION OF LAW TO THE CONTRARY, NO  PUBLIC  BENEFIT  CORPORATION
SHALL ESTABLISH A SUBSIDIARY CORPORATION WITHOUT STATUTORY CODIFICATION.
  2.  NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION ONE OF THIS SECTION,
ANY SUBSIDIARY OF A PUBLIC AUTHORITY DULY AND LAWFULLY FORMED  PRIOR  TO
THE  FIRST  DAY  OF  JULY,  TWO THOUSAND TWELVE, SHALL BE DEEMED TO BE A
PUBLIC AUTHORITY UNDER THE TERMS OF THIS  CHAPTER,  AND  NOTWITHSTANDING
ANY  OTHER PROVISION OF LAW TO THE CONTRARY, SHALL BE SUBJECT TO ALL THE
REQUIREMENTS, DUTIES AND RESPONSIBILITIES PROVIDED IN THIS CHAPTER.
  3. ON OR BEFORE THE THIRTY-FIRST DAY OF MARCH, TWO THOUSAND  THIRTEEN,
ANY  SUBSIDIARY  PUBLIC  BENEFIT  CORPORATION,  IN  COOPERATION WITH ITS
PARENT PUBLIC BENEFIT CORPORATION, SHALL PROVIDE  TO  THE  CHAIRMAN  AND
RANKING MINORITY MEMBER OF THE SENATE FINANCE COMMITTEE AND THE CHAIRMAN
AND  RANKING MINORITY MEMBER OF THE ASSEMBLY WAYS AND MEANS COMMITTEE, A
REPORT ON THE SUBSIDIARY PUBLIC BENEFIT CORPORATION. SUCH  REPORT  SHALL
INCLUDE FOR EACH SUBSIDIARY:
  (A)  THE  COMPLETE  LEGAL NAME, ADDRESS AND CONTACT INFORMATION OF THE
SUBSIDIARY;
  (B) THE STRUCTURE OF THE ORGANIZATION OF THE SUBSIDIARY, INCLUDING THE
NAMES AND TITLES OF EACH OF ITS MEMBERS, DIRECTORS AND OFFICERS, AS WELL
AS A CHART OF ITS ORGANIZATIONAL STRUCTURE;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07376-01-1

co-Sponsors

multi-Sponsors

2011-A3228A (ACTIVE) - Details

See Senate Version of this Bill:
S4690
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2827-a, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4298, S3919
2013-2014: A1599, S1443
2015-2016: A4729, S2054, S6591
2017-2018: A7049, S4280
2019-2020: A3089, S3090
2021-2022: A4078, S5137
2023-2024: A1768, S979
2025-2026: A2479, S2377

2011-A3228A (ACTIVE) - Summary

Prohibits the formation of a subsidiary of a public authority without prior approval of the legislature.

2011-A3228A (ACTIVE) - Bill Text download pdf 

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

                                 3228--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2011
                               ___________

Introduced  by  M. of A. COLTON, ZEBROWSKI, JAFFEE, P. RIVERA, ABINANTI,
  BRONSON -- Multi-Sponsored by -- M. of A.  CASTELLI,  P. LOPEZ,  McDO-
  NOUGH  --  read  once  and  referred to the Committee on Corporations,
  Authorities and Commissions -- recommitted to the Committee on  Corpo-
  rations,  Authorities and Commissions in accordance with Assembly Rule
  3, sec. 2 -- committee discharged, bill amended, ordered reprinted  as
  amended and recommitted to said committee

AN  ACT  to amend the public authorities law, in relation to prohibiting
  the formation of a subsidiary of  a  public  authority  without  prior
  permission of the legislature

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 2827-a of the  public  authorities
law,  as added by chapter 506 of the laws of 2009, is amended to read as
follows:
  1. Notwithstanding any law to the contrary, no state  authority  shall
hereafter  have  the power to organize any subsidiary corporation unless
the legislature shall have enacted a law granting such  state  authority
such  power  for  the organization of a specific corporation[, provided,
however, that a state authority may organize  a  subsidiary  corporation
pursuant to the following requirements:
  a. the purpose for which the subsidiary corporation shall be organized
shall  be  for  a  project or projects which the state authority has the
power to pursue pursuant to its corporate purposes;
  b. the primary reason for which the subsidiary  corporation  shall  be
organized  shall  be  to  limit  the  potential  liability impact of the
subsidiary's project or projects on the authority or  because  state  or
federal  law  requires  that  the  purpose of a subsidiary be undertaken
through a specific corporate structure; and
  c. the]. ANY subsidiary corporation shall make the reports  and  other
disclosures  as are required of state authorities, unless the subsidiary
corporation's operations and finances are consolidated with those of the
authority of which it is a subsidiary.
  S 2. This act shall take effect immediately.

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