BILL NUMBER:S5549

TITLE OF BILL:
An act
to amend the public authorities law, in relation to prescribing a
uniform system of accounts for the power authority of the state of New
York

PURPOSE OR GENERAL IDEA OF BILL:
To require PASNY to conform their
annual report and books of account with the ones submitted by
electric and gas corporations to the PSC.

SUMMARY OF SPECIFIC PROVISIONS:
Requires PASNY to file an annual
report with the Governor, the Comptroller and the fiscal committees
Of the Legislature, in exact likeness to the annual report which
electric and gas corporations submit to the Public Service
Commission. Requires PASNY to conform their books of account with the
Uniform System of Accounts of the PSC.

EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER:
Amends Sections 1002 of the Public Authorities Law.

JUSTIFICATION:
The report the: PASNY presently files with the
              

Governor, the Comptroller and the fiscal committees of the
Legislature is comparable to the annual reports that corporations
send to their stockholders. These reports tend to be more flash than
fact. The uniform system of accounts and the annual report, which
this bill asks PASFY to submit to the Governor, the comptroller and
the fiscal committees of the Legislature, is a thorough
disaggregation of a utility's financial condition with respect to all
sales, personnel, plant and equipment.
Such a report could shed much more light on the Authority's operations
than does the annual report which t:riey are now required to submit.

PRIOR LEGISLATIVE HISTORY:
A.918  of 2009-2010: Referred to Corporations
A.3293 of 2007-2008; Referred to Corporations
A.2713 of 2005-2006;
A.2175 of 2004-2005; Referred to Corporations
A.2176 of 2001-2002;
A.6800 of 1999-2000;
A.4765 of 1997-1998; Referred to Corporations
A.4038 of 1995-1996; Passed Assembly in 1995

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.

EFFECTIVE DATE:
Immediately.