NY S06735

Office of General Services must conduct a study in consultation with the Department of Law, Department of Audit and Control, State Insurance Fund, Department of Financial Services, Office of Employee Relations, State Emergency Management Office, State Chief Risk Officer, and Division of Budget to examine establishing an office of risk assessment and management and/or expanding the state chief risk officer's powers.

Study must address appropriate powers and duties including analyzing state liability exposure, establishing business continuity programs, implementing cost-effective risk management programs, analyzing natural disaster mitigation plans for coastal infrastructure, and coordinating risk management across state agencies.

Study must analyze appointment of a state chief risk officer, scope of state risk exposures, allowing public authorities and local governments to contract for the office's services, centralized funding mechanisms, and financial benefits and costs of establishment.

Office of General Services must submit the report to the Governor, Senate Temporary President, and Assembly Speaker within 18 months of the act's effective date and publicly post it on the office's website.

Act takes effect immediately.