S03405 Summary:
| BILL NO | S03405 |
| SAME AS | No Same As |
| SPONSOR | COMRIE |
| COSPNSR | |
| MLTSPNSR | |
| Amd §1411, N-PC L | |
| Authorizes the comptroller to audit local development corporations. | |
S03405 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 3405 2025-2026 Regular Sessions IN SENATE January 27, 2025 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the not-for-profit corporation law, in relation to authorizing the comptroller to audit local development corporations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (i) of section 1411 of the not-for-profit corpo- 2 ration law is relettered paragraph (j) and a new paragraph (i) is added 3 to read as follows: 4 (i) Audit. 5 The comptroller has the authority to audit any local development 6 corporation incorporated or reincorporated pursuant to this section. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05203-01-5