Bill > S02324

This bill establishes new requirements for the sale or transfer of certain real property by the state or public authorities, enhancing oversight and transparency in such transactions. The legislation mandates that any negotiated contracts for disposing of real property with an estimated fair market value over $250,000 to a private entity must be reviewed and approved by both the state Comptroller and Attorney General before becoming valid. These contracts must include a provision informing the other party about the mandatory review process, and if not approved or disapproved within 90 days, the contract automatically becomes enforceable. Additionally, the bill requires that for transfers of state land between state departments, divisions, bureaus, or agencies, written notice must be provided to each legislator in whose district the land is located, describing the land, identifying the parties involved, and outlining the transfer's terms. If a legislator objects within 30 days, the proposed transfer will be reviewed by the director of the budget and the secretary of state, who can affirm or reverse the proposed action. The legislation aims to increase accountability and legislative oversight in state property transfers, ensuring that such transactions are conducted transparently and with proper review.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S2324