senate Bill S1259

2013-2014 Legislative Session

Relates to debt limitation recommendations for state authorities

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to corporations, authorities and commissions
Jan 09, 2013 referred to corporations, authorities and commissions

Co-Sponsors

S1259 - Bill Details

See Assembly Version of this Bill:
A6247
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง6, Pub Auth L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1395B, A6310B
2009-2010: S8425, A11222A

S1259 - Bill Texts

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Relates to debt limitation recommendations for state authorities.

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BILL NUMBER:S1259

TITLE OF BILL:
An act
to amend the public authorities law, in relation to debt limitation
recommendations for 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
authorities.

SUMMARY OF SPECIFIC PROVISIONS:
Section one stipulates that within 180 days of the passage of this
statute, 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
groundbreaking. 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 imposition of debt reduction practices for all state
authorities will invariably 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.

PRIOR LEGISLATIVE-HISTORY:
S.1395 of 2012 - Passed Corporations, Authorities & Commissions;
Reported to Finance
S.1395A of 2010-2011 - Passed Corporations, Authorities & Commissions;
Reported to Finance
S.8425 of 2009-2010 - Referred to Rules

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

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

                                  1259

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen. PERKINS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN  ACT to amend the public authorities law, in relation to debt limita-
  tion recommendations for 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 ONE HUNDRED EIGHTY DAYS OF THE EFFECTIVE DATE OF THE  CHAP-
TER  OF  THE  LAWS OF TWO THOUSAND THIRTEEN THAT AMENDED THIS PARAGRAPH,
issue recommendations to the legislature and governor  on  setting  debt
limitations for authorities without statutorily required debt limits;
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02706-01-3

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