Bill Text: NY A05757 | 2023-2024 | General Assembly | Introduced

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Bill Title: Appoints a fiscal monitor for five years; defines terms; provides for such appointment; provides for the duties of such fiscal monitor.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to corporations, authorities and commissions [A05757 Detail]

Download: New_York-2023-A05757-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5757

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     March 23, 2023
                                       ___________

        Introduced  by M. of A. STERN -- read once and referred to the Committee
          on Corporations, Authorities and Commissions

        AN ACT in relation to appointing a fiscal monitor for  the  metropolitan
          transportation  authority;  and  providing  for  the  repeal  of  such
          provisions upon expiration thereof

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

     1    Section  1.  Definitions.  For the purposes of this act, the following
     2  terms shall have the following meanings:
     3    1. "Monitor" shall mean the person appointed pursuant to  section  two
     4  of this act.
     5    2.  "MTA"  shall  mean  the New York State Metropolitan Transportation
     6  Authority.
     7    3. "Governor" shall mean the governor of the state of New York.
     8    4. "Comptroller" shall mean the state comptroller.
     9    § 2. Appointment. 1. The governor  shall  appoint  a  fiscal  monitor,
    10  subject  to  appropriation,  to  provide  direct oversight of the fiscal
    11  policies, practices, programs, and decisions of the  MTA.  The  governor
    12  shall  provide the monitor with technical support and assistance for the
    13  purposes of carrying out their duties under this act,  if  requested  by
    14  the monitor. The monitor shall serve at the pleasure of the governor.
    15    2.  The  monitor  shall be paid a fixed salary set by the governor and
    16  shall be reimbursed for actual and necessary expenses  incurred  in  the
    17  performance  of  their  duties  including travel and supplies. The costs
    18  associated with the implementation of this act shall  be  borne  by  the
    19  state and shall be paid through a state appropriation.
    20    3.  The  monitor  shall  be  a non-voting ex-officio member of the MTA
    21  board.  The monitor shall be an individual who is not an employee of the
    22  MTA or a relative of MTA board members at the time of their appointment.
    23  The monitor shall have experience in public finance and, to  the  extent
    24  practical, shall have experience in one or more of the following areas:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10055-01-3
        A. 5757                             2

     1    (a) transportation finance;
     2    (b) the operation of public authorities in New York;
     3    (c) public transportation; or
     4    (d) public policy.
     5    § 3. Meetings. The monitor shall be entitled to attend all meetings of
     6  the MTA board, including executive sessions; provided, however, that the
     7  monitor shall not be considered for purposes of establishing a quorum of
     8  the  board.  The MTA shall fully cooperate with any monitor appointed by
     9  the governor, including but not limited to providing such  monitor  with
    10  access  to  any  necessary  documents  and  records of the MTA including
    11  access to electronic information systems, databases, and planning  docu-
    12  ments, consistent with all applicable state and federal statutes includ-
    13  ing  but not limited to the Freedom of Information Law pursuant to arti-
    14  cle six of the public officers law and the Personal  Privacy  Protection
    15  Law pursuant to article 6-A of the public officers law.
    16    §  4.  Duties of the fiscal monitor. The fiscal monitor shall have the
    17  following duties, including but not limited to:
    18    1. Review and analyze the MTA's  annual  budget  and  financial  plan,
    19  including  operating  and capital expenses and revenues, and make recom-
    20  mendations for improving financial management and sustainability;
    21    2. Review and evaluate the MTA's debt levels and debt management prac-
    22  tices, and make recommendations for reducing  debt  and  improving  debt
    23  management;
    24    3.  Review  and  assess  the  MTA's  procurement  practices, including
    25  contracts for goods and services, and make recommendations for improving
    26  efficiency and reducing costs;
    27    4. Review and evaluate  the  MTA's  internal  controls  and  financial
    28  reporting practices, and make recommendations for improving transparency
    29  and accountability;
    30    5.  Monitor  and  report on the MTA's compliance with applicable laws,
    31  regulations, and policies relating to financial management  and  report-
    32  ing; and
    33    6. Provide regular reports to the governor, the state legislature, and
    34  the public on the MTA's financial performance and fiscal management.
    35    §  5.  This  act shall take effect immediately and shall expire and be
    36  deemed repealed five years after such effective date.