Bill > S02256

This bill amends the county law to expand the county comptroller's authority to examine and audit the financial records of the county's industrial development agency (IDA). Currently, the comptroller is responsible for overseeing the county's fiscal affairs, including maintaining financial records, auditing claims, and reviewing books and accounts. The bill specifically modifies an existing provision to broaden the comptroller's power to examine and audit all accounts, contracts, books, and records of the county's IDA, regardless of which county it is in (previously the law was limited to Nassau County). An industrial development agency is a local government entity that provides economic development incentives like tax breaks and financing to attract businesses. The change allows the county comptroller to review the IDA's financial documents on their own initiative or when directed by the board of supervisors, which enhances financial transparency and oversight of these economic development organizations. The bill uses gender-neutral language by replacing "his" with "their" throughout the text and expands the geographic scope of the audit provision from a specific county to a generalized approach applicable to all counties.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S2256