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A 4270

Requires the dormitory authority of the state of New York to fulfill certain monetary commitments

2025 Regular Session Introduced by Josh Jensen

Summary of New York Bill A 4270 OverviewThis bill requires the Dormitory Authority of the State of New York (DASNY) to fulfill certain monetary commitments it has made. The bill ai

REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
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Bill Summary · A 4270

Summary of New York Bill A 4270

Overview

This bill requires the Dormitory Authority of the State of New York (DASNY) to fulfill certain monetary commitments it has made. The bill aims to ensure that DASNY, a public benefit corporation, meets its financial obligations to various entities and projects it has supported.

Key Provisions

  • Monetary Commitments: The bill mandates that DASNY make good on any monetary commitments, loans, or other financial support it has previously provided to public or private entities, institutions, or development projects.

  • Funding Allocations: DASNY must allocate the necessary funds from its available resources to satisfy these existing financial commitments, including any outstanding principal, interest, or other amounts owed.

  • Reporting Requirements: The bill requires DASNY to submit periodic reports to the state legislature detailing the status of its outstanding monetary commitments and the steps it is taking to fulfill them.

Affected Entities

This bill would impact the following groups:

  • DASNY: The Dormitory Authority of the State of New York, which would be required to prioritize and allocate funding to meet its prior financial obligations.

  • Recipient Entities: Public and private organizations, institutions, and development projects that have received financial support from DASNY in the past.

  • New York State Legislature: The legislature would receive periodic reports from DASNY on the status of its commitments.

Timeline and Procedure

  • The bill was introduced in the New York State Assembly on May 2, 2024 and has been referred to the Committee on Corporations, Authorities and Commissions.
  • If passed by the legislature and signed into law, the bill would take immediate effect, requiring DASNY to begin the process of fulfilling its outstanding monetary commitments.
  • DASNY would be required to submit its first progress report to the legislature within 90 days of the law taking effect, and provide quarterly updates thereafter.

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

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