Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 28, 2025 |
referred to transportation |
Senate Bill S5778
2025-2026 Legislative Session
Sponsored By
(R, C) 3rd Senate District
Current 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
Actions
2025-S5778 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6088
- Current Committee:
- Senate Transportation
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add §1265-c, Pub Auth L
2025-S5778 (ACTIVE) - Summary
Requires the metropolitan commuter transportation authority to contract with a certified independent public accounting firm for the provision of an independent, comprehensive, forensic audit of the authority to examine redundancies, inefficiencies, and the authority's governance system.
2025-S5778 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5778 SPONSOR: MURRAY TITLE OF BILL: An act to amend the public authorities law, in relation to requiring an independent forensic audit of the metropolitan commuter transportation authority; and providing for the repeal of such provisions upon expira- tion thereof PURPOSE OR GENERAL IDEA OF BILL: Requires the metropolitan transportation authority to undertake an inde- pendent forensic audit performed by a certified independent public accounting firm and requires such accounting firm to develop a report containing an analysis of redundancies and inefficiencies, suggestions to reduce redundancies and inefficiencies, and recommendations for alternative governance structures within the authority. SUMMARY OF PROVISIONS: Amends the public authorities law to require the metropolitan transpor-
2025-S5778 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5778 2025-2026 Regular Sessions I N S E N A T E February 28, 2025 ___________ Introduced by Sen. MURRAY -- 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 requiring an independent forensic audit of the metropolitan commuter transportation authority; and providing for the repeal of such provisions upon expi- ration 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 CONTRACT WITH A CERTIFIED INDE- PENDENT PUBLIC ACCOUNTING FIRM FOR THE PROVISION OF AN INDEPENDENT, COMPREHENSIVE, FORENSIC AUDIT OF THE AUTHORITY. SUCH AUDIT SHALL BE PERFORMED IN ACCORDANCE WITH GENERALLY ACCEPTED GOVERNMENT AUDITING STANDARDS. SUCH AUDIT SHALL EXAMINE REDUNDANCIES, INEFFICIENCIES, AND THE AUTHORITY'S GOVERNANCE SYSTEM. 2. THE CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM PROVIDING SUCH AUDIT SERVICES PURSUANT TO THIS SECTION SHALL BE PROHIBITED FROM PROVID- ING 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 PUBLIC ACCOUNTING FIRM PROVIDING SUCH AUDIT SERVICES PURSUANT TO THIS SECTION SHALL BE PROHIBITED FROM PERFORMING ANY NON-AUDIT SERVICES FOR THE AUTHORITY CONTEMPORANEOUSLY WITH RESPECT TO SUCH AUDIT SERVICES. 4. IT SHALL BE PROHIBITED FOR THE CERTIFIED INDEPENDENT PUBLIC ACCOUNTING FIRM TO PERFORM FOR THE AUTHORITY ANY AUDIT SERVICES IF: (A) THE CHIEF EXECUTIVE OFFICER, COMPTROLLER, CHIEF FINANCIAL OFFICER, CHIEF ACCOUNTING OFFICER OR ANY OTHER PERSON SERVING IN AN EQUIVALENT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05947-02-5
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.