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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to corporations, authorities and commissions
- 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.
Relates to debt limitation recommendations for state authorities
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor James F. Brennan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S1259
Title of bill
An act to amend the public authorities law, in relation to debt limitation recommendations for 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 authorities.
Summary of specific provisions
Section one stipulates that within 180 days of the passage of this statute, 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 groundbreaking. 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 imposition of debt reduction practices for all state authorities will invariably 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
S.1395 of 2012 - Passed Corporations, Authorities & Commissions; Reported to Finance S.1395A of 2010-2011 - Passed Corporations, Authorities & Commissions; Reported to Finance S.8425 of 2009-2010 - Referred to Rules
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.