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Who cares
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Sponsors
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History
- Referred to rules
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.
Relates to debt reduction policies for all state authorities
In Senate Committee · Rules · Sponsor Richard Brodsky
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8425
Title of bill
An act to amend the public authorities law, in relation to debt reduction policies for all state authorities
Purpose or general idea of bill
This bill will alter the portion of the 2009 Public Authorities Reform Act that deals with the setting of debt limitations by public authori- ties
Summary of specific provisions
Section one stipulates that within 90 days of the passage of this stat- ute, the Authorities Budget Office must additionally implement debt reduction practices for all state public authorities. Section two states the effective date.
Justification
The Authorities Budget Office, whose role was defined in the ground- breaking. Public Authorities Reform Act of 2009, is an ever-changing institution whose mission and procedural goals are still evolving. In light of recent events, it has become clear that the mandatory imposi- tion of debt reduction practices for all state authorities will invari- ably lead to less waste and abuse by state authorities, and be a useful step forward in creating transparency and efficiency within these vital government entities.
Prior legislative-history
New Bill.
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.