Expand Transparency for Local Corporations

Section 1. Paragraph (a) of subdivision 2 of section 2800 of the public authorities law, as amended by chapter 506 of the laws of 2009, is amended to read as follows:

(a) Every local authority, [continued or created by this chapter or any other chapter of the laws of the state of New York] pursuant to section two of this chapter shall submit to the chief executive officer, the chief fiscal officer, the chairperson of the legislative body of the local government or local governments and the authorities budget office, within ninety days after the end of its fiscal year, a complete and detailed report or reports setting forth: (1) its operations and accomplishments; (2) its financial reports, including (i) audited financials in accordance with all applicable regulations and following generally accepted accounting principles as defined in subdivision ten of section two of the state finance law, (ii) grants and subsidy programs, (iii) operating and financial risks, (iv) current ratings if any, of its bonds issued by recognized municipal bond rating agencies and notice of changes in such ratings, and (v) long-term liabilities, including leases and employee benefit plans; (3) its mission statement and measurements including its most recent measurement report; (4) a schedule of its bonds and notes outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD02441-01-5

as part of a schedule of debt issuance that includes the date of issuance, term, amount, interest rate and means of repayment. Additionally, the debt schedule shall also include all refinancings, calls, refundings, defeasements and interest rate exchange or other such agreements, and for any debt issued during the reporting year, the schedule shall also include a detailed list of costs of issuance for such debt; (5) a compensation schedule in addition to the report described in section twenty-eight hundred six of this title that shall include, by position, title and name of the person holding such position or title, the salary, compensation, allowance and/or benefits provided to any officer, director or employee in a decision making or managerial position of such authority whose salary is in excess of one hundred thousand dollars; (5-a) biographical information, not including confidential personal information, for all directors and officers and employees for whom salary reporting is required under subparagraph five of this paragraph; (6) the projects undertaken by such authority during the past year; (7) a listing and description, in addition to the report required by paragraph a of subdivision three of section twenty-eight hundred ninety-six of this article of all real property of such authority having an estimated fair market value in excess of fifteen thousand dollars that the authority acquires or disposes of during such period. The report shall contain the price received or paid by the authority and the name of the purchaser or seller for all such property sold or bought by the authority during such period; (8) such authority's code of ethics; (9) an assessment of the effectiveness of its internal control structure and procedures; (10) a copy of the legislation that forms the statutory basis of the authority; (11) a description of the authority and its board structure, including (i) names of committees and committee members, (ii) lists of board meetings and attendance, (iii) descriptions of major authority units, subsidiaries, (iv) number of employees, and (v) organizational chart; (12) its charter, if any, and by-laws; (13) a listing of material changes in operations and programs during the reporting year; (14) at a minimum a four-year financial plan, including (i) a current and projected capital budget, and (ii) an operating budget report, including an actual versus estimated budget, with an analysis and measurement of financial and operating performance; (15) its board performance evaluations provided, however, that such evaluations shall not be subject to disclosure under article six of the public officers law; (16) a description of the total amounts of assets, services or both assets and services bought or sold without competitive bidding, including (i) the nature of those assets and services, (ii) the names of the counterparties, and (iii) where the contract price for assets purchased exceeds fair market value, or where the contract price for assets sold is less than fair market value, a detailed explanation of the justification for making the purchase or sale without competitive bidding, and a certification by the chief executive officer and chief financial officer of the public authority that they have reviewed the terms of such purchase or sale and determined that it complies with applicable law and procurement guidelines; and (17) a description of any material pending litigation in which the authority is involved as a party during the reporting year, except that no provider of medical services need disclose information about pending malpractice claims beyond the existence of such claims.

§ 2. Subdivision 2 of section 2801 of the public authorities law, as amended by chapter 506 of the laws of 2009, is amended to read as follows:

2. Local authorities. For the local authority fiscal year ending on or after December thirty-first, two thousand seven and annually thereafter, every local authority [heretofore or hereafter continued or created by this chapter or any other chapter of the laws of the state of New York], pursuant to section two of this chapter, shall submit to the chief executive officer, the chief fiscal officer, the chairperson of the legislative body of the local government or governments and the authorities budget office for their information, annually not more than ninety days and not less than sixty days before the commencement of its fiscal year, in the form submitted to its members or trustees, budget information on operations and capital construction setting forth the estimated receipts and expenditures for the next fiscal year and the current fiscal year, and the actual receipts and expenditures for the last completed fiscal year.

§ 3. Subdivision 1 of section 2895 of the public authorities law, as added by chapter 766 of the laws of 2005, is amended to read as follows:

1. "Contracting officer" shall mean the officer or employee of a public authority or local authority pursuant to section two of this chapter who shall be appointed by resolution of the board of the public or local authority to be responsible for the disposition of property.

§ 4. Section 2896 of the public authorities law, as added by chapter 766 of the laws of 2005 and subdivision 3 as amended by chapter 506 of the laws of 2009, is amended to read as follows:

§ 2896. Duties of public and local authorities with respect to the disposal of property. 1. Every public and local authority, as defined in section two of this chapter, shall adopt by resolution comprehensive guidelines which shall (a) detail the public or local authority's operative policy and instructions regarding the use, awarding, monitoring and reporting of contracts for the disposal of property, and (b) designate a contracting officer who shall be responsible for the public or local authority's compliance with, and enforcement of, such guidelines. Such guidelines shall be consistent with, and shall require the public or local authority's contracting activities to comply with this section, the [authorities] authority's enabling legislation and any other applicable law for the disposal of property, except that such guidelines may be stricter than the provisions of this section, the authorities enabling legislation and any other applicable law for the disposal of property if the public or local authority determines that additional safeguards are necessary to assure the integrity of its disposition activities. Guidelines approved by the public or local authority shall be annually reviewed and approved by the governing body of the public or local authority. On or before the thirty-first day of March in each year, the public or local authority shall file with the comptroller a copy of the guidelines most recently reviewed and approved by the public or local authority, including the name of the public or local authority's designated contracting officer. At the time of filing such guidelines with the comptroller, every public or local authority shall also post such guidelines on the public or local authority's internet website. If the local authority does not maintain its own website, then the guidelines shall be posted on the website of the locality which created such authority. Guidelines posted on the public or local authority's internet website shall be maintained on such website at least until the procurement guidelines for the following year are posted on such website.

2. Each public or local authority shall:

a. maintain adequate inventory controls and accountability systems for all property under its control;

b. periodically inventory such property to determine which property shall be disposed of;

c. produce a written report of such property in accordance with subdivision three of this section;

d. transfer or dispose of such property as promptly as possible in accordance with section twenty-eight hundred ninety-seven of this title.

3. a. Each public or local authority shall publish, not less frequently than annually, a report listing all real property of the public or local authority. Such report shall include a list and full description of all real and personal property disposed of during such period. The report shall contain the price received by the public or local authority and the name of the purchaser for all such property sold by [the] such public or local authority during such period.

b. The public authority shall deliver copies of such report to the comptroller, the director of the budget, the commissioner of general services, the legislature and the authorities budget office.

c. The local authority shall deliver copies of such report to the comptroller, the chief executive officer of the locality, and the chairperson of the legislative body of the local government.

§ 5. Section 2897 of the public authorities law, as added by chapter 766 of the laws of 2005, subdivision 3 and paragraphs c and d of subdivision 6 as amended and subdivision 7 as added by chapter 506 of the laws of 2009 and paragraph e of subdivision 6 as added by chapter 156 of the laws of 2012, paragraph a as amended and paragraph f of subdivision 6 as added by section 1 of part F of chapter 58 of the laws of 2020, is amended to read as follows:

§ 2897. Disposal of public or local authority property. 1. Supervision and direction. Except as otherwise provided in this section, the contracting officer designated by each public or local authority shall have supervision and direction over the disposition of property of such public or local authority.

2. Custody and control. a. The custody and control of the property of a public authority, pending its disposition, and the disposal of such property, shall be performed by the public authority in possession thereof or by the commissioner of general services when so authorized under this section.

b. The custody and control of the property of a local authority, pending its disposition, and the disposal of such property shall be performed by the local authority in possession thereof.

3. Method of disposition. Subject to section twenty-eight hundred ninety-six of this title, any public or local authority may dispose of property for not less than the fair market value of such property by sale, exchange, or transfer, for cash, credit, or other property, with or without warranty, and upon such other terms and conditions as the contracting officer deems proper, and it may execute such documents for the transfer of title or other interest in property and take such other action as it deems necessary or proper to dispose of such property under the provisions of this section. Provided, however, that no disposition of real property, or any interest in real property, shall be made unless an appraisal of the value of such property has been made by an independent appraiser and included in the record of the transaction, and, provided further, that no disposition of any other property, which because of its unique nature or the unique circumstances of the proposed transaction is not readily valued by reference to an active market for similar property, shall be made without a similar appraisal.

4. Sales by the commissioner of general services. When it shall be deemed advantageous to the state, any public authority may enter into an agreement with the commissioner of general services where under such commissioner may dispose of property of such public authority under terms and conditions agreed to by the public authority and the commissioner of general services. In disposing of any such property of a public authority, the commissioner of general services shall be bound by the terms of this title and references to the contracting officer shall be deemed to refer to such commissioner.