Bill > S01410

This bill strengthens the oversight and accountability of public authorities and not-for-profit corporations by expanding the powers of the Authorities Budget Office (ABO), a state agency that monitors public authorities. Specifically, the bill requires public authorities to respond within 30 days to ABO reports and explain within 180 days how they have addressed any recommendations, with failure to comply resulting in being deemed delinquent. The bill also mandates that financial reports be certified under penalty of perjury by the chief executive and financial officers, with knowing violations constituting third-degree perjury. For board members of public authorities, the legislation requires state-approved training within one year of appointment and establishes a process for suspension or removal if training is not completed, including a three-month suspension period and potential permanent removal by the ABO. Additionally, the bill grants the ABO new enforcement powers, including the ability to commence legal action to dissolve a corporation that has acted beyond its authorized powers or to restrain unauthorized activities. The Department of State is also now required to electronically transmit copies of certain not-for-profit corporation and local economic development instruments to the ABO for review.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S1410