Relates to requiring state agencies, public authorities and public benefit corporations to provide annual reports including information on outstanding total debt for each entity, total annual debt service for each entity, annual debt issuance for each entity, and annual debt to be retired for each entity.
S T A T E O F N E W Y O R K
________________________________________________________________________
10490
I N A S S E M B L Y
May 31, 2016
___________
Introduced by M. of A. OAKS -- read once and referred to the Committee
on Governmental Operations
AN ACT to amend the state finance law, in relation to requiring state
agencies, public authorities and public benefit corporations to
provide annual reports
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The state finance law is amended by adding a new section
19-A to read as follows:
S 19-A. ANNUAL REPORTING REQUIREMENTS. NOTWITHSTANDING ANY OTHER
PROVISIONS OF THE LAW TO THE CONTRARY COMMENCING ON JANUARY FIRST, TWO
THOUSAND SIXTEEN AND EACH YEAR THEREAFTER ALL STATE AGENCIES AND ALL
STATE AND LOCAL AUTHORITIES AS DEFINED BY SECTION TWO OF THE PUBLIC
AUTHORITIES LAW SHALL SUBMIT TO THE GOVERNOR, THE CHAIR AND RANKING
MINORITY MEMBER OF THE SENATE FINANCE COMMITTEE AND THE CHAIR AND RANK-
ING MINORITY MEMBER OF THE ASSEMBLY WAYS AND MEANS COMMITTEE AN ANNUAL
REPORT. SUCH REPORT SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO, THE
OUTSTANDING TOTAL DEBT FOR EACH ENTITY; TOTAL ANNUAL DEBT SERVICE FOR
EACH ENTITY; ANNUAL DEBT ISSUANCE FOR EACH ENTITY; AND ANNUAL DEBT TO BE
RETIRED FOR EACH ENTITY.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15161-01-6
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