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Bill

S 2377

EACH Act of 2025

119th Congress Introduced by Angela Alsobrooks and 31 co-sponsors

Bill S 2377 requires public authorities to obtain legislative approval before forming subsidiaries, enhancing oversight and protecting taxpayer interests.

Introduced in Senate
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WeVote Research Nonpartisan
Bill Summary · S 2377

Summary of Bill S 2377

Bill Overview

  • Bill Number: S 2377
  • Title: Prohibits the formation of a subsidiary of a public authority without prior approval of the legislature
  • Status: Referred to Corporations, Authorities and Commissions
  • Introduced On: January 16, 2025

Purpose and Intent

The primary purpose of Bill S 2377 is to establish a requirement for legislative approval before any public authority can form a subsidiary. This measure aims to enhance oversight and accountability regarding the creation of subsidiaries, which can impact public resources and governance.

Key Provisions

  • Legislative Approval Requirement:

    • Public authorities must obtain prior approval from the legislature before forming any subsidiary.

  • Oversight Mechanism:

    • This bill seeks to ensure that the legislature has the opportunity to review and assess the implications of any proposed subsidiary, potentially preventing misuse of public funds and ensuring alignment with public policy objectives.

Affected Parties

  • Public Authorities:

    • All public authorities that currently have the ability to form subsidiaries will be directly affected by this bill, as they will need to seek legislative approval moving forward.

  • Legislators:

    • Members of the legislature will gain additional responsibilities and authority in reviewing proposals for new subsidiaries.

  • Taxpayers and the Public:

    • The general public may benefit from increased transparency and accountability in how public authorities manage their operations and finances.

Legislative Timeline

  • January 16, 2025: Bill introduced and referred to the Corporations, Authorities and Commissions committee.
  • May 20, 2025: Bill reported for the first time to the calendar.
  • May 21, 2025: Bill reported for the second time to the calendar.
  • May 22, 2025: Bill advanced to third reading.
  • June 6, 2025: Bill passed the Senate and was delivered to the Assembly, where it was again referred to the Corporations, Authorities and Commissions committee.

Related Legislation

Bill S 2377 is related to several prior-session bills, including:
- S 6591
- S 1443
- S 4690
- S 3919
- S 3847
- S 4280
- S 3090
- S 5137
- S 979
- A 2479 (companion bill)

These related bills may provide context or additional legislative history relevant to the discussions surrounding Bill S 2377.

Conclusion

Bill S 2377 represents a significant shift in the governance of public authorities by requiring legislative oversight for the formation of subsidiaries. This change aims to promote transparency and accountability in public administration, ensuring that the interests of taxpayers and the public are safeguarded.

Compiled from official sources — confirm details with the bill’s official record.

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