Assembly Bill A8121

2023-2024 Legislative Session

Relates to reviews by the authorities budget office

download bill text pdf

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Current Bill Status - In Assembly 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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2023-A8121 (ACTIVE) - Details

See Senate Version of this Bill:
S6746
Current Committee:
Assembly Codes
Law Section:
Public Authorities Law
Laws Affected:
Add §8, amd §§2800, 2824 & 6, Pub Auth L; amd §104, N-PC L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10745, S8659
2021-2022: A2631, S977

2023-A8121 (ACTIVE) - Summary

Relates to reviews by the authorities budget office; grants the authorities budget office the authority to commence an action or special proceeding to annul the corporate existence or dissolve a corporation that has acted beyond its capacity or power; makes related provisions.

2023-A8121 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8121
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             October 13, 2023
                                ___________
 
 Introduced  by  M. of A. THIELE, OTIS, BRONSON -- read once and referred
   to the Committee on Corporations, Authorities and Commissions
 
 AN ACT to amend the public authorities law and the not-for-profit corpo-
   ration law, in relation to reviews by the  authorities  budget  office
   and  granting  the authorities budget office the authority to commence
   an action or special proceeding to annul the  corporate  existence  or
   dissolve  a corporation that has acted beyond its capacity or power or
   to restrain it from carrying on unauthorized activities
 
   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 8 to read as follows:
   § 8. REPORTS OF  PUBLIC  AUTHORITIES  BY  AUTHORITIES  BUDGET  OFFICE;
 RECOMMENDATIONS  FOR  CORRECTIVE ACTION. WHENEVER THE AUTHORITIES BUDGET
 OFFICE ISSUES A LETTER OR REPORT REGARDING THE ACTIVITIES AND OPERATIONS
 OF ANY PUBLIC AUTHORITY, THE HEAD OF  THE  PUBLIC  AUTHORITY  WHICH  THE
 LETTER OR REPORT WAS ABOUT SHALL SUBMIT A WRITTEN RESPONSE TO THE LETTER
 OR  REPORT WITHIN THIRTY DAYS OF THE RECEIPT OF THE LETTER OR REPORT. IF
 THE LETTER OR REPORT MAKES RECOMMENDATIONS FOR CORRECTIVE  ACTION,  SUCH
 HEAD  SHALL  REPORT WITHIN ONE HUNDRED EIGHTY DAYS AFTER RECEIPT THEREOF
 TO THE AUTHORITIES BUDGET OFFICE WHAT STEPS WERE TAKEN TO IMPLEMENT SUCH
 RECOMMENDATIONS, AND, WHERE RECOMMENDATIONS WERE  NOT  IMPLEMENTED,  THE
 REASONS  THEREFOR. FAILURE TO COMPLY WITH THE PROVISIONS OF THIS SECTION
 SHALL MAKE THE AUTHORITY DELINQUENT IN ITS REPORTING REQUIREMENTS.
   § 2. Subdivision 3 of section 2800 of the public authorities  law,  as
 amended  by  chapter  766  of  the  laws  of 2005, is amended to read as
 follows:
   3. Every financial  report  submitted  under  this  section  shall  be
 approved  by the board and shall be certified, UNDER PENALTY OF PERJURY,
 in writing by the chief executive officer and the chief financial  offi-
 cer  of  such  authority  that  based on the officer's knowledge (a) the
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11219-01-3
              

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