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The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
New York state public-benefit corporations are commonly used by the state government to perform a specific purpose, such as investment in infrastructure or regulation of horse racing. These corporations are frequently referred to as authorities .
New York Local Government Assistance Corporation; New York State Authorities Budget Office; New York state public-benefit corporations; New York State Thoroughbred Breeding and Development Fund Corporation; Nonprofit corporation
New York's public services are heavily organized into public-benefit nonprofit corporations, known frequently as authorities or development corporations. New York State-chartered public benefit corporations exist all over the state, but the most famous examples are probably in New York City (the Metropolitan Transportation Authority and the ...
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The Dormitory Authority of the State of New York (DASNY / ˈ d æ z n iː /) provides construction, financing, and allied services which serve the public good of New York State. More specifically, as a New York State public-benefit corporation, DASNY provides services for public and non-proprietary (i.e., nonprofit) private universities in New ...
There is ongoing debate in New York State politics regarding the size and scope of New York State public benefit corporations, i.e., how many there are, how much debt they carry, how much power they wield to issue bonds for funding, who they are accountable to, etc. [5] [6] [7] For example, the New York Local Government Assistance Corporation has a 24-member staff to oversee the operations of ...
The New York State Thruway Authority (NYSTA) is a public benefit corporation in the U.S. state of New York.The NYSTA was formed in 1950 with the responsibility of constructing, maintaining, and operating the New York State Thruway, a system of limited-access highways within the state.