STATE OF NEW YORK
________________________________________________________________________
5660
2017-2018 Regular Sessions
IN ASSEMBLY
February 14, 2017
___________
Introduced by M. of A. CURRAN, FINCH -- read once and referred to the
Committee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to requiring the
approval of the state comptroller on every application submitted to
the public authorities control board
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 2 of section 51 of the public authorities law,
2 as added by chapter 838 of the laws of 1983, is amended to read as
3 follows:
4 2. The board may require as part of such application such information
5 as it deems necessary and shall act upon such application within a
6 reasonable time. The board shall furnish the state comptroller with a
7 copy of each such application within three days following receipt there-
8 of by the board. The board shall not approve any such application [prior
9 to the earlier of (a) seven days following the receipt by the state
10 comptroller of such application or (b) the receipt by the board of the
11 state comptroller's comments on the application or his consent to an
12 earlier determination by the board] until the receipt by the board of
13 the state comptroller's approval on the application in regards to both
14 compliance with regulations and bond market assessment. Reference to
15 the state comptroller in this subdivision shall include any authorized
16 representative of the state comptroller.
17 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08521-01-7