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S5813Senate2015-2016 SessionSame asA7974

Relates to the management of the Roosevelt Island operating corporation

Sponsor José M. SerranoSD-29+1 co-sponsorAffects Finance
Status
Signed by Governor
Impact
Pending
Outcome
Signed into law

Bill progress

Signed into law

What's happening

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Who cares

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Sponsors

Primary sponsor
José M. Serrano

Senator · Senate District 29

1 Co-sponsor

History

  1. Approval memo.13
  2. Signed chap.517
  3. Delivered to governor
  4. Returned to senate
  5. Passed assembly
  6. Ordered to third reading rules cal.485
  7. Substituted for A7974B
  8. Referred to ways and means
  9. Delivered to assembly
  10. Passed senateVote 62–0
  11. Ordered to third reading cal.1594
  12. Committee discharged and committed to rules
Show 5 earlier actions
  1. Print number 5813b
  2. Amend (t) and recommit to cities
  3. Print number 5813a
  4. Amend (t) and recommit to cities
  5. Referred to cities

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.

A7974Assembly

Relates to the management of the Roosevelt Island operating corporation

Assembly Floor Calendar · Sponsor Rebecca Seawright

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S5813B

Title of bill

An act to amend chapter 899 of the laws of 1984, relating to the creation of a public benefit corporation to plan, develop, operate, maintain and manage Roosevelt Island, in relation to the management of such corporation; to amend the public authorities law, in relation to the management of the Roosevelt Island operating corporation; and providing for the repeal of such provisions upon expiration thereof

Purpose or general idea of bill

Authorizes the Roosevelt Island Operating Corporation (RIOC) to distribute public purpose funds.

Summary of specific provisions

This bill would:

*clarify RIOC Board's authority to provided financial assistance in the form of grants to not-for-profit corporations or governmental agencies that provide direct services or benefits to the residents of Roosevelt Island.

*limit RIOC Board's authority to provide financial assistance to 3% of its operating budget.

*require approval of a majority of the RIOC board to issue the funds.

*require a report on grants issued from 2010-2015.

*take effect immediately and expires on December 31, 2016.

Justification

The Roosevelt Island Public Purpose Fund program was created in 1989 by the Roosevelt Island Operating Corporation. These funds are currently distributed by the Corporation to not-for-profit community organizations whose purpose is to benefit Roosevelt Island residents by enhancing their quality of life through education, artistic and cultural enrichment, improved health or a better environment. In January 2015, the Authorities Budget Office issued a policy guidance which explained that public benefit corporations must have explicit statutory authorization in order to issue grants. This legislation would comply with the policy guidance and authorize the Corporation to continue to distribute public purpose funds.

Prior legislative history

None

Fiscal implications

None

Effective date

Immediately and expires on December 31, 2016.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.