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Sponsors
No co-sponsors yet.
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:S5219
Title of bill
An act to amend the public authorities law, in relation to authorizing the Power Authority of the state of New York to acquire the Long Island power authority as a subsidiary of such authority
Purpose
To authorize the Power Authority of the State of New York to acquire the Long Island Power Authority as a subsidiary.
Summary of provisions
This bill will authorize the Power Authority of the State of New York to acquire the Long Island Power Authority as a subsidiary. The bill further provides that LIPA is authorized to be transferred to NYPA
Justification
The Long Island Power Authority has long been criticized for its lack of transparency and responsiveness to the ratepayers. Additionally, the costs of administering the authority have been substantial. This bill would provide legislative authority for LIPA to become a subsidiary of the Power Authority of the state of New York, taking advantage of NYPA management while maintaining LIPA as a separate and distinct entity. In an era when government is seeking to consolidate, this alternative should be fully explored and adopted if it achieves transparency, better service, reduced management costs and lower rates.
Legislative history
New legislation.
Fiscal implications
None to the State,
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.