Bill > S06165

This bill addresses the legal framework for not-for-profit corporations, particularly those affiliated with municipal, state, or local authorities. It introduces several key changes: First, it requires that when a not-for-profit corporation is being created on behalf of a municipal corporation, state or local authority, the incorporator must indicate this on the certificate of incorporation and provide details to the authorities budget office. Second, the bill expands the definition of "local authority" to include not-for-profit corporations that have significant governmental connections, such as those where government officials select board members or serve as executives, or those that issue tax-exempt debt or provide tax exemptions. Third, it mandates that all state and local authorities, including their subsidiaries and affiliates, are subject to open meetings and freedom of information laws, requiring them to stream meetings in real-time, post video recordings within five business days, and maintain those recordings for at least five years. The bill also modifies provisions related to local development corporations, including requirements for public notices when selling or leasing property and limitations on contract durations. These changes aim to increase transparency and accountability for not-for-profit corporations with governmental ties.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6165