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A435Assembly2019-2020 SessionSame asS1873

Standardize Power Authority Accounting

Official title

“Prescribes uniform system of accounts for power authority of the state of New York”

Sponsor Amy PaulinAD-88+4 co-sponsorsAffects Economy
Status
Vetoed
Impact
3/10
Low
Outcome
Vetoed

Bill progress

Vetoed

What's happening

This bill requires the New York Power Authority to file annual financial reports using the same accounting standards as private electric companies.

Why it matters

  1. Increased Transparency and Accountability. By requiring the New York Power Authority (NYPA) to follow the same accounting standards and reporting format as private electric companies, the public and government officials will have a clearer, more direct way to evaluate NYPA’s financial health and operations.

  2. Enhanced Oversight. Annual reports filed with top state officials and legislative committees will make it easier for policymakers to compare NYPA’s performance against private-sector peers, potentially influencing decisions on energy policy, rates, or public spending.

  3. Level Playing Field. This change could expose inefficiencies or strengths within NYPA that were previously hidden by different accounting systems, informing debates about the future role of public versus private utilities in New York’s energy landscape.

  4. Potential for Policy Reform. Uniform reporting may highlight issues or successes that motivate further legislative or regulatory action—such as reforms in public power management, rate setting, or investment priorities—based on more reliable data comparisons.

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Who cares

Headline styles

Standardize Power Authority Accounting

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Amy Paulin

Assembly Member · Assembly District 88

Chair, Health

History

  1. Tabled
  2. Vetoed memo.196
  3. Delivered to governor
  4. Returned to assembly
  5. Passed senateVote 61–1
  6. 3rd reading cal.1154
  7. Substituted for S1873
  8. Referred to energy and telecommunications
  9. Delivered to senate
  10. Passed assembly
  11. Advanced to third reading cal.48
  12. Reported
Show 1 earlier action
  1. 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.

S1873Senate

Standardize Power Authority Accounting

Senate Floor Calendar · Sponsor Leroy Comrie

Impact 3 · Low0% to pass

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

435

2019-2020 Regular Sessions

IN ASSEMBLY (Prefiled)

January 9, 2019

Introduced by M. of A. PAULIN, OTIS, SEAWRIGHT, VANEL, NIOU -- Multi- Sponsored by -- M. of A. CROUCH, DE LA ROSA -- 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-two 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.

LBD01946-01-9

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.