NY S06165

Expands the definition of "local authority" under public authorities law to include not-for-profit corporations that issue tax-exempt debt or provide state/municipal tax exemptions, subjecting them to open meetings and freedom of information laws

Requires the Authorities Budget Office to approve certificates of incorporation for not-for-profits created on behalf of municipal corporations, state/local authorities, or districts, or where government officials control board selection or serve as directors

Reduces maximum lease terms for local development corporation property transactions with municipalities from 99 years to 25 years, and increases public notice requirements from 10 days to 21 days

Mandates that contracts between local development corporations and government entities cannot exceed 25 years, must provide fair consideration, and cannot be used to finance municipal operations or acquire assets for municipal use

Requires all state and local authorities, including subsidiaries and affiliates, to livestream open meetings, post video recordings within 5 business days, and maintain recordings for at least 5 years