NY State Senate Bill 2021-S4924

Senate Bill S4924

2021-2022 Legislative Session

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit

download bill text pdf

Archive: Last Bill Status - In Senate Committee Transportation 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to transportation
Feb 18, 2021	referred to transportation

2021-S4924 (ACTIVE) - Details

Current Committee:: Senate Transportation
Law Section:: Public Authorities Law
Laws Affected:: Add §1265-c, Pub Auth L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S4637
2013-2014: S2482
2015-2016: S3835
2017-2018: S6303
2019-2020: S2640
2023-2024: S4190

2021-S4924 (ACTIVE) - Summary

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit of such authority.

2021-S4924 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S4924

SPONSOR: LANZA
 
TITLE OF BILL:

An act to amend the public authorities law, in relation to directing the
metropolitan transportation authority to contract for the provision of
an independent forensic audit of such authority; and providing for the
repeal of such provisions upon the expiration thereof

 
PURPOSE:

Directs the Metropolitan Transportation Authority to contract with a
certified public accounting firm for the conducting of an independent
forensic audit.

 
SUMMARY OF PROVISIONS:

Section one amends the public authorities law by adding a new section
1265-c. Section two is the effective date.

 
JUSTIFICATION:

This bill is necessary to give the legislature and the taxpayers of New
York the ability to know how and where money is being spent for the
operations of the Metropolitan Transportation Authority (MTA).  While
the MTA has been cutting services, raising fares and tolls, it has also
been getting additional revenue from the MTA payroll tax.  This measure
would require the MTA to conduct a full independent forensic audit of
the authority to bring accountability to the MTA.  This audit will give
the legislature and the public the ability to know where funds are being
spent. It will also be a blueprint to implement future cost saving meas-
ures within the MTA. This bill will ensure that revenue is being spent
wisely and will also reveal ways that the MTA can cut costs without
harming the public's transportation needs. The independent forensic
audit, conducted by a public accounting firm, must report its findings
of the audit on or before January 1, 2021.

 
LEGISLATIVE HISTORY:

2020: 5.2640 - Referred to Transportation

2019: S.2640 - Referred to Transportation

2018: S.6303A - Passed Senate

2017: S.6303 - Passed Senate

2016: S.3835 - Passed Senate

2015: 5.3835 - Passed Senate

2014: S.2482 - Passed Senate/A.2282 Referred to Corporations

2013: 5.2482 - Passed Senate/A.2282 Referred to Corporations

2012: 5.4637 - Referred to Finance/A. 4856 - Referred to Corporations

2011: S.4637 - Passed Senate/A.4856 - Referred to Corporations
 
FISCAL IMPLICATIONS:

None to the State.

 
EFFECTIVE DATE:
This act shall take effect immediately, and shall expire and be deemed
repealed January 2, 2021.

2021-S4924 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4924
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 18, 2021
                                ___________
 
 Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Transportation
 
 AN ACT to amend the public authorities law, in relation to directing the
   metropolitan transportation authority to contract for the provision of
   an independent forensic audit of such authority; and providing for the
   repeal of such provisions upon the expiration thereof
 
   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 1265-c to read as follows:
   § 1265-C. INDEPENDENT FORENSIC AUDIT.  1.  NOTWITHSTANDING  ANY  OTHER
 PROVISION  OF  LAW, THE AUTHORITY SHALL, WITHIN SIXTY DAYS OF THE EFFEC-
 TIVE DATE OF THIS SECTION AND AT ITS OWN EXPENSE, CONTRACT WITH A CERTI-
 FIED PUBLIC ACCOUNTING FIRM FOR THE PROVISION OF AN INDEPENDENT, COMPRE-
 HENSIVE, FORENSIC AUDIT OF THE AUTHORITY. SUCH AUDIT SHALL BE  PERFORMED
 IN  ACCORDANCE  WITH  GENERALLY  ACCEPTED GOVERNMENT AUDITING STANDARDS.
 SUCH AUDIT SHALL BE INDEPENDENT OF AND IN ADDITION  TO  THE  INDEPENDENT
 AUDIT  OF  THE  AUTHORITY  CONDUCTED  PURSUANT  TO  SECTION TWENTY-EIGHT
 HUNDRED TWO OF THIS CHAPTER.
   2. THE CERTIFIED INDEPENDENT  PUBLIC  ACCOUNTING  FIRM  PROVIDING  THE
 AUTHORITY'S  INDEPENDENT, COMPREHENSIVE, FORENSIC AUDIT SHALL BE PROHIB-
 ITED FROM PROVIDING AUDIT SERVICES IF THE LEAD (OR  COORDINATING)  AUDIT
 PARTNER  (HAVING  PRIMARY  RESPONSIBILITY  FOR  THE AUDIT), OR THE AUDIT
 PARTNER  RESPONSIBLE  FOR  REVIEWING  THE  AUDIT,  HAS  PERFORMED  AUDIT
 SERVICES  FOR  THE AUTHORITY WITHIN ANY OF THE TEN PREVIOUS FISCAL YEARS
 OF THE AUTHORITY.
   3. THE CERTIFIED INDEPENDENT  ACCOUNTING  FIRM  PERFORMING  THE  AUDIT
 PURSUANT TO THIS SECTION SHALL BE PROHIBITED FROM PERFORMING ANY NON-AU-
 DIT SERVICES FOR THE AUTHORITY CONTEMPORANEOUSLY WITH THE AUDIT.
   4.  IT  SHALL  BE  PROHIBITED  FOR  THE  CERTIFIED  INDEPENDENT PUBLIC
 ACCOUNTING FIRM TO PERFORM FOR THE AUTHORITY ANY AUDIT  SERVICE  IF  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06468-01-1

 S. 4924                             2
 
 CHIEF  EXECUTIVE  OFFICER,  COMPTROLLER,  CHIEF FINANCIAL OFFICER, CHIEF
 ACCOUNTING OFFICER OR ANY OTHER PERSON SERVING IN AN EQUIVALENT POSITION
 IN THE AUTHORITY WAS AN EMPLOYEE, CONSULTANT OR  INDEPENDENT  CONTRACTOR
 OF THAT CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM AND PARTICIPATED IN
 ANY CAPACITY IN THE AUDIT OF THE AUTHORITY AT ANY TIME IN THE PAST.
   5.  THE  CERTIFIED  INDEPENDENT  PUBLIC  ACCOUNTING FIRM CONTRACTED TO
 PERFORM THE INDEPENDENT COMPREHENSIVE, FORENSIC AUDIT OF  THE  AUTHORITY
 SHALL,  ON OR BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-FOUR, REPORT ITS
 FINDINGS, CONCLUSIONS AND RECOMMENDATIONS TO  THE  GOVERNOR,  THE  STATE
 COMPTROLLER,  THE  TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF THE
 ASSEMBLY, THE CHAIR AND RANKING MINORITY MEMBER OF  THE  SENATE  FINANCE
 COMMITTEE,  THE  CHAIR  AND RANKING MINORITY MEMBER OF THE ASSEMBLY WAYS
 AND MEANS COMMITTEE, THE CHAIRS AND  RANKING  MINORITY  MEMBERS  OF  THE
 SENATE  AND  THE  ASSEMBLY  CORPORATIONS,  AUTHORITIES  AND  COMMISSIONS
 COMMITTEES, AND THE CHAIRS AND RANKING MINORITY MEMBERS  OF  THE  SENATE
 AND THE ASSEMBLY TRANSPORTATION COMMITTEES.
   §  2.  This act shall take effect immediately, and shall expire and be
 deemed repealed January 2, 2024.

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