Bill Text: NY A02562 | 2025-2026 | General Assembly | Introduced

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Bill Title: Requires state agencies, public authorities and public benefit corporations to provide annual reports including information on outstanding total debt for each entity, total annual debt service for each entity, annual debt issuance for each entity, and annual debt to be retired for each entity.

Spectrum: Partisan Bill (Republican 7-0)

Status: (Introduced) 2025-01-17 - referred to governmental operations [A02562 Detail]

Download: New_York-2025-A02562-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2562

                               2025-2026 Regular Sessions

                   IN ASSEMBLY

                                    January 17, 2025
                                       ___________

        Introduced  by M. of A. RA, BARCLAY, TAGUE, BRABENEC, MORINELLO, MANKTE-
          LOW, REILLY -- read once and referred to the Committee on Governmental
          Operations

        AN ACT to amend the state finance law, in relation  to  requiring  state
          agencies,  public  authorities  and  public  benefit  corporations  to
          provide annual reports

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  state finance law is amended by adding a new section
     2  19-b to read as follows:
     3    § 19-b.  Annual  reporting  requirements.  Notwithstanding  any  other
     4  provisions  of  the law to the contrary commencing on January first, two
     5  thousand twenty-five and each year thereafter all state agencies and all
     6  state and local authorities as defined by  section  two  of  the  public
     7  authorities  law  shall  submit  to  the governor, the chair and ranking
     8  minority member of the senate finance committee and the chair and  rank-
     9  ing  minority  member of the assembly ways and means committee an annual
    10  report. Such report shall include, but shall  not  be  limited  to,  the
    11  outstanding  total  debt  for each entity; total annual debt service for
    12  each entity; annual debt issuance for each entity; and annual debt to be
    13  retired for each entity.
    14    § 2. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05726-01-5