|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to corporations, authorities and commissions|
|Feb 05, 2013||referred to corporations, authorities and commissions|
senate Bill S3518
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3518 - Details
S3518 - Summary
Clarifies the application of the accountability standards, open meetings law and freedom of information requirements to local development corporations.
S3518 - Sponsor Memo
BILL NUMBER:S3518 TITLE OF BILL: An act to amend the public authorities law, the execu- tive law and the public officers law, in relation to clarifying the application of the accountability standards, open meetings law and free- dom of information requirements to local development corporations PURPOSE: To extend the application of the accountability standards, open meetings law and freedom of information requirements to local develop- ment corporations (LDCs) so that there is full and public disclosure of LDC activities. SUMMARY OF PROVISIONS: Amends various sections of the public authori- ties law to include local development corporations in the provisions of the law governing accountability and transparency of public authorities. EXISTING LAW: Under the current public authorities law, it is not clear from the wording of the statute that LDCs are required to comply with the open meetings law and freedom of information requirements. Due to this ambiguity in drafting the law, the wording has been interpreted to mean that LOC's do not have to comply with the open meetings law and freedom of information requests. JUSTIFICATION: Local Development Corporations (LDCs) enable counties, cities, towns and villages to play a role in economic development. LOCs allow local governments to assist businesses with specific types of
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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