NY S07721

Establishes commissioner roles and responsibilities requiring fiduciary duties, ethics codes, conflict-of-interest disclosures, and mandatory training on legal and financial responsibilities within six months of appointment.

Creates three board committees with independent members: Audit Committee to oversee independent audits, Governance Committee to review best practices and board evaluations, and Finance Committee to review debt proposals.

Requires comprehensive property disposal guidelines with independent appraisals, public bidding procedures, and prohibits below-market asset sales except for government entities or those aligned with the authority's mission, subject to gubernatorial veto within 60 days.

Mandates detailed annual reports to governors and legislatures including audited financials, compensation schedules, debt schedules with costs of issuance, all real property transactions, and description of non-competitive purchases with justifications.

Establishes an Inspector General office with investigative powers, a whistleblower protection program, and requires public disclosure of lobbying contacts; mandates public hearings at least 30-90 days before toll or fare increases, with at least six geographically distributed hearings and 60-minute public comment periods at all board meetings.