N.Y. Public Authorities Law 1829 – Submission of certain financial information
§ 1829. Submission of certain financial information. 1. The authority shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee and the director of the budget, annually sixty days prior to the commencement of its fiscal year, (a) a copy of its strategic plan, for its next five fiscal years, adopted in accordance with the requirements of subdivision thirteen-a of section eighteen hundred four of this title; and (b) in such form or forms as may be prescribed by the director of the budget, financial information on its operations and loans setting forth its estimated income and moneys to be otherwise available, its expenditures and its loan activity for the next fiscal year and the current fiscal year of the authority, the actual moneys, income, expenditures and loan activity for the last completed fiscal year of the authority, (c) proposed changes, if any, in its charges and fees in respect of project applications and loans and (d) information regarding the manner in which, and the extent to which, the authority's activities during the last completed fiscal year and during the first half of the current fiscal year have served to further the goals and objectives and achieve the operational targets set forth in the strategic plan adopted pursuant to subdivision thirteen-a of section eighteen hundred four of this title.
Terms Used In N.Y. Public Authorities Law 1829
- Assisted project: shall mean any project in respect of which the authority has granted a loan or guaranteed a loan. See N.Y. Public Authorities Law 1801
- Authority: shall mean the New York job development authority created by subdivision one of section eighteen hundred two of this title. See N.Y. Public Authorities Law 1801
- Chairman: means the chairman of the dormitory authority. See N.Y. Public Authorities Law 1695
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Loan: shall mean (i) a mortgage loan evidenced by a bond, note or other obligation of a local development corporation secured by a mortgage on a project, defined in subdivision fourteen (i) and (ii) of this section, made by a local development corporation, a project occupant or other person, firm or corporation; (ii) a loan evidenced by a bond, note or other obligation of a local development corporation, a project occupant, or other person, firm or corporation secured by a loan agreement, contract or such other instrument deemed necessary or convenient on a project defined in subdivision fourteen (iii) of this section; (iii) a loan evidenced by a bond, note or other obligation of a local development corporation, a project occupant, or other person, firm or corporation secured by a security interest in machinery and equipment as provided in section eighteen hundred fourteen; and (iv) an employee ownership assistance loan made pursuant to paragraph (v) of subdivision fourteen of this section. See N.Y. Public Authorities Law 1801
- Project: shall mean (i) the construction of a new industrial or manufacturing plant, a new research and development building or other new eligible business facility, (ii) the acquisition, rehabilitation or improvement of a former or existing industrial or manufacturing plant, of a former or existing building to be used for research and development, of a former or existing other eligible business facility, (iii) the construction, acquisition, rehabilitation or improvement of pollution control facilities, (iv) the purchase of machinery and equipment, for which financial assistance from the authority is sought, or (v) assistance to employees under an employee ownership assistance loan agreement made pursuant to subtitle six of this title; provided, however, that any such plant, building, facility or machinery and equipment therefore shall not be primarily used in making retail sales of goods or services to customers who personally visit such facilities to obtain such goods or services, or used primarily as a hotel, apartment house or other place of business which furnishes dwelling space or accommodations to either residents or transients. See N.Y. Public Authorities Law 1801
- Project occupant: shall mean the business enterprise which proposes to use a project after construction, acquisition, rehabilitation or improvement. See N.Y. Public Authorities Law 1801
2. The annual report submitted by the authority pursuant to the provisions of section twenty-eight hundred of this chapter shall set forth, in addition to the items enumerated in such section, (a) a schedule of its loans which shall indicate the local development corporation through which financial assistance has been granted by the authority and the project occupant or the business enterprise described in section eighteen hundred twenty-seven of this chapter for each assisted project, and information on the number of jobs projected to be created and the number projected to be retained by each of such assisted projects; and, based on the latest information available to the authority, the number of jobs actually created to date and the number actually retained to date by each of such assisted projects; and
(b) a listing of all bond counsel, accountants and other private consultants engaged by the authority on a contract basis and a statement of the total amount paid and yet to be paid under each such contract; and
(c) a schedule of all disbursements and commitments provided by the authority from funds the authority administers on behalf of the federal government including:
(i) grants, loans and loan guarantees for all projects undertaken by the fund;
(ii) administrative and operating expenses charged to the fund;
(iii) transfers of moneys from the fund to other fund accounts of the authority; and
(iv) any and all other information that may be requested by the director of the budget, chair of the senate finance committee and chair of the assembly ways and means committee; and
(d) a schedule of all receipts and receivables received by the authority into the funds the authority administers on behalf of the federal government including:
(i) transfer of moneys to the fund from other fund accounts of the authority;
(ii) income received by the fund from loans, loan guarantees, charges and all other sources; and
(iii) any and all other information that may be requested by the director of the budget, chair of the senate finance committee and chair of the assembly ways and means committee.