Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 20, 2018 |
committed to rules |
May 22, 2018 |
advanced to third reading |
May 16, 2018 |
2nd report cal. |
May 15, 2018 |
1st report cal.1241 |
Jan 03, 2018 |
referred to corporations, authorities and commissions returned to senate died in assembly |
May 15, 2017 |
referred to corporations, authorities and commissions delivered to assembly passed senate |
Mar 30, 2017 |
advanced to third reading |
Mar 29, 2017 |
2nd report cal. |
Mar 28, 2017 |
1st report cal.527 |
Feb 08, 2017 |
referred to corporations, authorities and commissions |
Senate Bill S4280
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(R, C) Senate District
2017-S4280 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7049
- Current Committee:
- Senate Rules
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §2827-a, Pub Auth L
- Versions Introduced in 2017-2018 Legislative Session:
-
S4280, A7049
2017-S4280 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4280 TITLE OF BILL : 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 PURPOSE OR GENERAL IDEA OF BILL : This bill seeks to prohibit the formation of a subsidiary of a public authority or public benefit corporation without prior permission of the legislature. SUMMARY OF SPECIFIC PROVISIONS : This bill would amend section 2827-a of the Public Authorities Law, to eliminate the exception to the general prohibition against public authorities establishing any new subsidiary corporation without prior statutory authority. JUSTIFICATION : Public Authorities, the hybrid of a government agency and a private corporation, were established to perform specific, focused missions on behalf of the people of the state of New York. As finance, contracting and operating entities, they have the flexibility and power to accomplish great tasks. From bridge, edifice, infrastructure, school
2017-S4280 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4280 2017-2018 Regular Sessions I N S E N A T E February 8, 2017 ___________ Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Author- ities 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. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05006-01-7
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