Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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May 31, 2022 | referred to corporations, authorities and commissions delivered to assembly passed senate |
May 16, 2022 | advanced to third reading |
May 11, 2022 | 2nd report cal. |
May 10, 2022 | 1st report cal.1187 |
Apr 28, 2022 | print number 5137a |
Apr 28, 2022 | amend and recommit to corporations, authorities and commissions |
Jan 05, 2022 | referred to corporations, authorities and commissions returned to senate died in assembly |
May 11, 2021 | referred to consumer affairs and protection delivered to assembly passed senate |
Apr 26, 2021 | advanced to third reading |
Apr 21, 2021 | 2nd report cal. |
Apr 20, 2021 | 1st report cal.698 |
Feb 24, 2021 | referred to corporations, authorities and commissions |
senate Bill S5137A
Sponsored By
Mario R. Mattera
(R, C) 2nd Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Actions
Votes
Bill Amendments
S5137 - Details
- See Assembly Version of this Bill:
- A4078
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §2827-a, Pub Auth L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010: S3919, A4298
2011-2012: S4690, A3228
2013-2014: S1443, A1599
2015-2016: S2054, S6591, A4729
2017-2018: S4280, A7049
2019-2020: S3090, A3089
2023-2024: S979, A1768
S5137 - Summary
Prohibits the formation of a subsidiary of a public authority without prior approval of the legislature; allows the formation of a subsidiary of a public authority without prior approval of the legislature if such public authority files a written notice sixty days prior to the organization of such subsidiary with the governor and the legislature.
S5137 - Sponsor Memo
BILL NUMBER: S5137 SPONSOR: MATTERA 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: 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 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.
S5137 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5137 2021-2022 Regular Sessions I N S E N A T E February 24, 2021 ___________ Introduced by Sen. MATTERA -- 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. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05610-01-1
S5137A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4078
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §2827-a, Pub Auth L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010: S3919, A4298
2011-2012: S4690, A3228
2013-2014: S1443, A1599
2015-2016: S2054, S6591, A4729
2017-2018: S4280, A7049
2019-2020: S3090, A3089
2023-2024: S979, A1768
S5137A (ACTIVE) - Summary
Prohibits the formation of a subsidiary of a public authority without prior approval of the legislature; allows the formation of a subsidiary of a public authority without prior approval of the legislature if such public authority files a written notice sixty days prior to the organization of such subsidiary with the governor and the legislature.
S5137A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5137A SPONSOR: MATTERA 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: 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 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.
S5137A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5137--A 2021-2022 Regular Sessions I N S E N A T E February 24, 2021 ___________ Introduced by Sen. MATTERA -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- recommitted to the Committee on Corporations, Authorities and Commissions in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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] WITHOUT THE LEGISLATURE ENACTING A LAW GRANTING SUCH STATE AUTHORITY SUCH POWER IF SUCH AUTHORITY PROVIDES WRITTEN NOTIFICATION OF ITS INTENTION TO ORGANIZE SUCH SUBSIDIARY CORPORATION SIXTY DAYS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05610-03-2
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