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Who cares
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Sponsors
No co-sponsors yet.
History
- Substituted by A1846
- Advanced to third reading
- 2nd report cal.
- 1st report cal.260
- Referred to finance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Prohibits state agencies from making loans to employees
Signed by Governor · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the executive law, in relation to prohibiting state agencies from offering loans to their employees
Purpose or general idea of bill
Prohibits state agencies from issuing interest free loans to employees, unless authorized by state and federal law.
Summary of specific provisions
A new Section 170-a is added to the Executive Law which would prohibit any state agency from offering loans to employees.
Justification
It was reported in the fall of 1993 that the Job Development Authority (JDA) had been making interest free loans to its top executives. Approximately $87,000 of JDA funds were "lent" to about two dozen authority employees including more than $20,000 to the JDA President who used the money to payoff her credit card bills, one of which was for her airfare for a personal visit to France. The JDA funds are supposed to be used to assist the state's businesses to maintain and create jobs. This bill will prevent this practice for all state agencies.
Prior legislative history
2001-2002: A.2697/S.1508 (Senate Rules Committee) 2003-2004: A.188 - Passed Assembly 2005-2006: A.1348 - Passed Assembly 2007-2008: A.371 - Passed Assembly
Fiscal implications
None.
Effective date
Ninety days after it shall become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.