senate Bill S3518

2013-2014 Legislative Session

Clarifies the application of the accountability standards, open meetings law and freedom of information requirements to local development corporations

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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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to corporations, authorities and commissions
Feb 05, 2013 referred to corporations, authorities and commissions

Co-Sponsors

S3518 - Details

Law Section:
Public Authorities Law
Laws Affected:
Amd §§2800, 2801, 2895, 2896 & 2897, Pub Auth L; amd §51, Exec L; amd §§86 & 102, Pub Off L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S5399
2009-2010: S790

S3518 - Summary

Clarifies the application of the accountability standards, open meetings law and freedom of information requirements to local development corporations.

S3518 - Sponsor Memo

S3518 - Bill Text download pdf

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

                                  3518

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 5, 2013
                               ___________

Introduced  by  Sen. O'BRIEN -- 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, the executive law and the
  public officers law, in relation to clarifying the application of  the
  accountability standards, open meetings law and freedom of information
  requirements to local development corporations

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

  Section 1. Paragraph (a) of subdivision  2  of  section  2800  of  the
public  authorities  law, as amended by chapter 506 of the laws of 2009,
is amended to read as follows:
  (a) Every local authority, [continued or created by  this  chapter  or
any  other  chapter  of  the  laws of the state of New York] PURSUANT TO
SECTION TWO OF THIS CHAPTER shall submit to the chief executive officer,
the chief fiscal officer, the chairperson of the legislative body of the
local government or local governments and the authorities budget office,
within ninety days after the end of its  fiscal  year,  a  complete  and
detailed  report or reports setting forth: (1) its operations and accom-
plishments; (2) its financial reports, including (i) audited  financials
in  accordance  with  all applicable regulations and following generally
accepted accounting principles as defined in subdivision ten of  section
two  of  the  state finance law, (ii) grants and subsidy programs, (iii)
operating and financial risks, (iv) current ratings if any, of its bonds
issued by recognized municipal bond rating agencies and notice of chang-
es in such ratings, and (v) long-term liabilities, including leases  and
employee  benefit  plans;  (3)  its  mission  statement and measurements
including its most recent measurement report;  (4)  a  schedule  of  its
bonds and notes outstanding at the end of its fiscal year, together with
a statement of the amounts redeemed and incurred during such fiscal year
as  part  of a schedule of debt issuance that includes the date of issu-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07010-01-3

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