S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4190
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 6, 2023
                                ___________
 
 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.
                                                            LBD08507-01-3
              

 S. 4190                             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-SIX, 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, 2026.