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Who cares
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Sponsors
2 Co-sponsors
History
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3669
Title of bill
An act to amend the public authorities law and the general municipal law, in relation to the accountability of industrial development agencies which conduct activities related to health care
Purpose
This bill is designed to provide for more accountability for the activities of industrial developments agencies (IDAs) related to healthcare.
Summary of provisions
Section 1 includes IDAs conducting activities related to health care among the entities over which the New York State Public Authorities Control Board has oversight.
Section 2 amends the general municipal law to require IDAs conducting activities related to healthcare to provide annual reports of their activities to the New York State Public Authorities Control Board. Also, this section requires such IDAs to submit to annual audits by the New York State Comptroller's Office, the results of which shall be provided by the comptroller's office to the Governor's office, the Speaker of the Assembly and the Temporary President of the Senate.
Existing law
Current law provides very little oversight over the activities of any IDA, let alone the activities of IDAs conducting activities related to healthcare. The New York State Public Authorities Control Board currently has oversight authority over several public benefit corporations, for example, the Dormitory Authority, Battery Park City Authority and the New York State Medical Care Facilities Finance Agency.
Justification
This legislation is important to provide much needed oversight of IDAs conducting activities related to healthcare. It is important, because of the financing advantages provided by IDAs for projects, to ensure the stated purposes, goals and financial obligations are being fulfilled. This bill begins to take necessary first steps to accomplishing better oversight of IDA conducting activities related to healthcare.
Legislative history
2007-2008: S.673 2005-2006: S.4976
Fiscal implications
Unknown.
Local fiscal implications
Unknown.
Effective date
This act shall take effect January 1, 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.