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Assembly Bill A6687

2011-2012 Legislative Session

Requires the approval of the state comptroller on every application submitted to the public authorities control board

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Archive: Last Bill Status - In Assembly Committee

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2011-A6687 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง51, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6927
2013-2014: A4278
2015-2016: A4854
2017-2018: A5660

2011-A6687 (ACTIVE) - Summary

Requires the approval of the state comptroller on every application submitted to the public authorities control board.

2011-A6687 (ACTIVE) - Bill Text download pdf 

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

                                  6687

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             March 24, 2011
                               ___________

Introduced by M. of A. CURRAN -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN ACT to amend the public authorities law, in relation to requiring the
  approval  of  the  state comptroller on every application submitted to
  the public authorities control board

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

  Section  1. Subdivision 2 of section 51 of the public authorities law,
as added by chapter 838 of the laws of  1983,  is  amended  to  read  as
follows:
  2.  The board may require as part of such application such information
as it deems necessary and shall  act  upon  such  application  within  a
reasonable  time.  The  board shall furnish the state comptroller with a
copy of each such application within three days following receipt there-
of by the board. The board shall not approve any such application [prior
to the earlier of (a) seven days following  the  receipt  by  the  state
comptroller  of  such application or (b) the receipt by the board of the
state comptroller's comments on the application or  his  consent  to  an
earlier  determination  by  the board] UNTIL THE RECEIPT BY THE BOARD OF
THE STATE COMPTROLLER'S APPROVAL ON THE APPLICATION IN REGARDS  TO  BOTH
COMPLIANCE  WITH  REGULATIONS  AND BOND MARKET ASSESSMENT.  Reference to
the state comptroller in this subdivision shall include  any  authorized
representative of the state comptroller.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08525-01-1

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