Bill > S06140

This bill amends the New York Public Authorities Law to expand the definition of "local authority" to explicitly include municipal housing authorities located in cities with a population of one million or more (which effectively means New York City). By adding these housing authorities to the definition of "local authority", the bill subjects them to review and regulation by the Authorities Budget Office (ABO), a state agency that oversees public authorities' financial operations and governance. Previously, these municipal housing authorities were exempt from such oversight. The bill also repeals a previous law that had exempted these housing authorities from certain provisions of the public authorities law. The change will increase transparency and financial accountability for large municipal housing authorities by bringing them under the ABO's regulatory framework. The bill will take effect 120 days after becoming law, allowing time for implementation and compliance preparation.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6140