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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to corporations, authorities and commissions
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.
Establishes a twelve month moratorium on any sale of the Genesee Valley Regional Market Authority or of the authority itself
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor Joseph Errigo
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the public authorities law, in relation to establishing a twelve month moratorium on any sale, takeover or dissolution of the assets of the Genesee Valley Regional Market Authority or of the authority itself; and providing for the repeal of such provisions upon expiration thereof
Purpose of bill
To halt the dissolution of the Genesee Valley Regional Market Authority for one year.
Summary of provisions
Section 1: Amends the public authorities law to add a new section 878-a to establish a twelve month moratorium on any sale, takeover or dissolution of the debt or liquidation of the assets or operations of the Genesee Valley Regional Market Authority or of the authority itself.
Justification
As part of Governor Paterson's proposed 21-day Amendments, there is a plan to repeal the Genesee Valley Regional Market Authority, an independent State Public Authority created in 1951, and transfer its assets to Empire State Development Corporation.
The Genesee Valley Regional Market Authority serves as a centrally located food distribution center located on 123 acres in the Town of Henrietta, Monroe County. There are 160 companies doing business on the property.
The end result of this elimination would halt the very economic engine we are looking to promote in New York State. This legislation calls for a 12 month moratorium on this dissolution, with the caveat that there be a process to assess the economic output, jobs creation and overall health to the upstate economy which this Market Authority is no doubt perpetuating.
Prior legislative history
None.
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.