What's happening
This bill requires the New York Power Authority to file an annual report using the same accounting standards as electric corporations.
Why it matters
Increases transparency and accountability. By requiring the New York Power Authority (NYPA) to use the same accounting standards and reporting formats as private electric corporations, the public and oversight officials can more easily compare NYPA’s financial and operational performance to that of investor-owned utilities.
Facilitates regulatory oversight. Standardized reporting enables state officials, including the governor, comptroller, and legislative committees, to better scrutinize NYPA’s finances and decisions, potentially leading to improved public policy and oversight.
May reveal operational inefficiencies or strengths. Uniform accounting could expose areas where NYPA performs better or worse than its private-sector counterparts, informing debates about public versus private ownership of power resources and management practices.
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Who cares
Headline styles
Standardize Power Authority Accounting
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
1 Multi-sponsor
History
- Enacting clause stricken
- Recommitted to corporations, authorities and commissions
- Ordered to third reading cal.287
- Returned to assembly
- Died in senate
- Referred to corporations, authorities and commissions
- Delivered to senate
- Passed assembly
- Advanced to third reading cal.335
- Reported
- Referred to corporations, authorities and commissions
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3773
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 prescribing a uniform system of accounts for the power authority of the state of New York
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 1002 of the public authorities law is amended by adding a new subdivision 3 to read as follows:
3. On March thirty-first, two thousand twenty and every year thereafter on such date, the authority shall file with the governor, the comptroller, the chair of the assembly ways and means committee, the chair of the senate finance committee and the authority budget office, an annual report for the preceding calendar year that shall conform, in exact like manner, to the annual report filed by electric corporations with the public service commission pursuant to subdivision six of section sixty-six of the public service law. In so doing, the authority shall comply with the uniform system of accounts required for electric corporations pursuant to subdivision six of section sixty-six of the public service law and all applicable rules and regulations.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07577-01-7
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.