What's happening
This bill requires recommendations on setting debt limits for state authorities without existing statutory debt limits within 180 days.
Why it matters
Addresses a key gap. by requiring timely recommendations for debt limits on state authorities that currently have no statutory debt ceilings, which could help prevent unchecked accumulation of public debt.
Pushes for legislative and gubernatorial oversight. by mandating that these recommendations be delivered to both the legislature and governor, potentially increasing transparency and accountability for public borrowing.
Establishes a clear deadline (180 days). for action, signaling urgency and aiming to prompt quicker reforms, rather than allowing the issue to languish without a timeline.
Could impact future state finances. by laying the groundwork for more consistent and responsible borrowing practices among public authorities, which may affect taxpayers, credit ratings, and the state’s overall fiscal health.
Albany, before your first meeting.
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Who cares
Headline styles
Limit State Authority Debt
Plain English, a few words. Used as the page title.
Sponsors
1 Multi-sponsor
History
- Enacting clause stricken
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3736
2017-2018 Regular Sessions
IN ASSEMBLY
January 30, 2017
Introduced by M. of A. DINOWITZ -- read once and referred to the Committee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to debt limitation recommendations for state authorities
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (m) of subdivision 1 of section 6 of the public authorities law, as added by chapter 506 of the laws of 2009, is amended to read as follows:
(m) within one hundred eighty days of the effective date of the chapter of the laws of two thousand seventeen that amended this paragraph, issue recommendations to the legislature and governor on setting debt limitations for authorities without statutorily required debt limits;
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07556-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.