NY State Senate Bill 2019-S8701

Senate Bill S8701

2019-2020 Legislative Session

Relates to allowing for the examination of industrial development agencies and not-for-profit corporations by county comptrollers

download bill text pdf

Archive: Last Bill Status - In Senate Committee Rules Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 08, 2020	referred to rules

2019-S8701 (ACTIVE) - Details

Current Committee:: Senate Rules
Law Section:: Public Authorities Law
Laws Affected:: Add §2803-a, Pub Auth L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S235
2023-2024: S2297

2019-S8701 (ACTIVE) - Summary

Allows for the examination of industrial development agencies and not-for-profit corporations by county comptrollers.

2019-S8701 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S8701

SPONSOR: MAYER
 
TITLE OF BILL:

An act to amend the public authorities law, in relation to allowing for
the examination of industrial development agencies and not-for-profit
corporations by county comptrollers

 
PURPOSE:

To allow for independent examination and audit of industrial development
agencies and not-for-profit corporations on the local county level.

 
SUMMARY OF PROVISIONS:

Section 1 adds a new section to the public authorities law permitting
the county comptroller or local equivalent to examine and audit the
projects and actions of industrial development agencies operating within
a county as well as local non-for-profit corporations.

Section 2 sets the effective date.

 
JUSTIFICATION:

New York State law authorizes industrial development agencies to grant
incentives, including tax abatements and PILOTs, to businesses and
projects to promote job growth and the vitality of our local economies.
The actions they take, including granting PILOTs, tax abatements, and
terms of the incentives, have substantial impacts on community members,
workers, and taxpayers. Yet, many of these actions are veiled from those
that are affected.

This bill would add an additional level of accountability by allowing
for the local audit and examination of IDA projects and actions.  Addi-
tionally, this bill enables the same examination of local not-for-profit
corporations. These measures allow for enhanced public confidence in
institutions designed to help people on a local level by allowing for
concerns of the public to be handled brought to the attention of a local
entity that is more attune with local concerns.

 
LEGISLATIVE HISTORY:

New bill

 
FISCAL IMPLICATIONS:

None

 
EFFECTIVE DATE:
This act shall take effect on the ninetieth day after it shall become
law.

2019-S8701 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8701
 
                             I N  S E N A T E
 
                               July 8, 2020
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the public authorities law, in relation to allowing  for
   the  examination of industrial development agencies and not-for-profit
   corporations by county comptrollers
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  public  authorities  law  is amended by adding a new
 section 2803-a to read as follows:
   § 2803-A. EXAMINATION OF INDUSTRIAL DEVELOPMENT AGENCIES AND  NOT-FOR-
 PROFIT CORPORATIONS BY COUNTY COMPTROLLERS. 1. EXAMINATION OF INDUSTRIAL
 DEVELOPMENT  AGENCY  PROJECTS  AND ACTIONS BY COUNTY COMPTROLLERS. (A) A
 COUNTY COMPTROLLER MAY CONDUCT AN AUDIT OF A PROJECT AND/OR ACTION OF AN
 INDUSTRIAL DEVELOPMENT AGENCY LOCATED WITHIN THE COUNTY.
   (B) IN COUNTIES WHERE  THERE  IS  NO  COUNTY  COMPTROLLER,  THE  CHIEF
 ELECTED  OFFICIAL  OF  THE COUNTY SHALL DESIGNATE THE BUDGET DIRECTOR OR
 FINANCE DIRECTOR TO UNDERTAKE SUCH AUDITS.
   (C) FOR PURPOSES OF  THIS  SECTION,  INDUSTRIAL  DEVELOPMENT  AGENCIES
 INCLUDE  SUCH PUBLIC AUTHORITIES DEFINED IN PARAGRAPH (C) OF SUBDIVISION
 TWO OF SECTION TWO OF THIS CHAPTER.
   2. EXAMINATION OF NOT-FOR-PROFIT CORPORATIONS BY COUNTY  COMPTROLLERS.
 (A) A COUNTY COMPTROLLER MAY CONDUCT AN AUDIT OF A NOT-FOR-PROFIT CORPO-
 RATION AFFILIATED WITH, SPONSORED BY, OR CREATED BY A COUNTY, CITY, TOWN
 OR VILLAGE GOVERNMENT, LOCATED WITHIN THE COUNTY.
   (B)  IN  COUNTIES  WHERE  THERE  IS  NO  COUNTY COMPTROLLER, THE CHIEF
 ELECTED OFFICIAL OF THE COUNTY SHALL DESIGNATE THE  BUDGET  DIRECTOR  OR
 FINANCE DIRECTOR TO UNDERTAKE SUCH AUDITS.
   (C)  FOR PURPOSES OF THIS SECTION, NOT-FOR-PROFIT CORPORATIONS INCLUDE
 SUCH PUBLIC AUTHORITIES DEFINED IN PARAGRAPH (B) OF SUBDIVISION  TWO  OF
 SECTION TWO OF THIS CHAPTER.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15676-03-0

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