NY S02555

Requires explanatory statements for public authority property disposals to include the names of all beneficial owners of the entity receiving the property

Defines "beneficial owner" as any individual who directly or indirectly owns any equity interest in an entity, or has practical control over the entity's funds, assets, or direction

Applies the beneficial owner disclosure requirement to both regular property disposal statements and disposal contracts/agreements

Takes effect immediately upon passage and applies to all property disposals and contracts entered into on or after the effective date