Loading chat...
NY A04314
Bill
Status
2/3/2011
Primary Sponsor
Dennis Gabryszak
Click for details
AI Summary
-
Amends Public Authorities Law to require the New York Power Authority to deposit identified surplus revenue into a new "Western New York Economic Development Initiatives Fund" within 90 days of identification
-
Creates a special revenue fund under joint custody of the State Comptroller and Commissioner of Economic Development for investment in western New York economic development initiatives
-
Fund receives moneys from New York Power Authority surplus deposits, appropriations, and interest earned on fund investments, with all interest remaining in the fund
-
Requires approval from both the State Comptroller and Commissioner of Economic Development for any economic development initiatives funded by the account
-
Directs fund disbursement through comptroller audit and warrant process upon vouchers certified by the Commissioner of Economic Development, subject to Director of Budget allocation certificates
Legislative Description
Creates the western NY economic development initiatives fund for purposes of funding approved projects from New York power authority surplus revenue; provides that money to come from surplus revenue.
Last Action
enacting clause stricken
11/28/2012