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History
- Referred to corporations, authorities and commissions
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7670
Title of bill
An act to amend the public authorities law, in relation to prohibiting the Nassau health care corporation from establishing subsidiaries
Purpose
To forbid a public benefit corporation organized under Title 2 of Article 10-c of the Public Authorities Law from creating or organizing subsidiary corporations.
Summary of provisions
Section one adds a new Public Authorities Law § 2827-a to prohibit a public benefit corporation or any other entity established under Article 10-c, Title 2 of the Public Authorities Law, from forming or organizing a subsidiary corporation.
Section two provides that the act shall take effect immediately.
Justification
Nassau Health Care Corporation was created to serve the health care needs of the residents of Nassau County. Over the past several years, the facility has begun creating subsidiary corporations. These subsidiary corporations allow them to provider services without the accountability and transparency that is required under the public authorities law. This law will prevent the corporation from forming subsidiary corporations in the future ensure the statutory intent of serving the general public is upheld.
Legislative history
New bill.
Fiscal implications
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.