Senate Bill S2206

2023-2024 Legislative Session

Relates to clarifying accountability standards, open meetings law and freedom of information requirements to local development corporations

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions 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

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2023-S2206 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
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 Other Legislative Sessions:
2019-2020: S7855
2021-2022: S1114

2023-S2206 (ACTIVE) - Summary

Clarifies the application of the accountability standards, open meetings law and freedom of information requirements to local development corporations as defined in section two of the public authorities law.

2023-S2206 (ACTIVE) - Sponsor Memo

2023-S2206 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2206
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 19, 2023
                                ___________
 
 Introduced  by  Sen.  LIU  --  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.
                                                            LBD05358-01-3
              

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