senate Bill S1443

2013-2014 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status -


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

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Actions

view actions (16)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 11, 2014 referred to corporations, authorities and commissions
delivered to assembly
passed senate
Feb 03, 2014 advanced to third reading
Jan 28, 2014 2nd report cal.
Jan 27, 2014 1st report cal.61
Jan 08, 2014 referred to corporations, authorities and commissions
returned to senate
died in assembly
May 20, 2013 referred to corporations, authorities and commissions
delivered to assembly
passed senate
Mar 20, 2013 advanced to third reading
Mar 19, 2013 2nd report cal.
Mar 18, 2013 1st report cal.222
Jan 09, 2013 referred to corporations, authorities and commissions

Votes

view votes

Jan 27, 2014 - Corporations, Authorities and Commissions committee Vote

S1443
5
0
committee
5
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: Jan 27, 2014

aye wr (1)

Mar 18, 2013 - Corporations, Authorities and Commissions committee Vote

S1443
5
0
committee
5
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: Mar 18, 2013

aye wr (1)

Co-Sponsors

S1443 - Details

See Assembly Version of this Bill:
A1599
Law Section:
Public Authorities Law
Laws Affected:
Amd §2827-a, Pub Auth L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S4690A, A3228A
2009-2010: S3919, A4298

S1443 - Summary

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

S1443 - Sponsor Memo

S1443 - Bill Text download pdf

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

                                  1443

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by Sens. FLANAGAN, MARTINS -- 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  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.

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

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