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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 .
Empire State Development (ESD) is the umbrella organization for New York's two principal economic development public-benefit corporations, the New York State Urban Development Corporation (UDC) and the New York Job Development Authority (JDA). [4]
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Best known is the MAC created for New York City during the 1975 New York City fiscal crisis. The corporation was born of a recommendation made by a special panel composed of Simon H. Rifkind, Felix G. Rohatyn, Richard M. Shinn and Donald B. Smiley. [1] The majority of appointees to the corporation’s board were made by the Governor, initially ...
In 2012, the New York State Canal Corporation employed 529 people, consisting of 458 full-time employees and 78 seasonal workers. Its spending accounted for about 10 percent of the New York State Thruway 's total $1.1 billion in annual spending.
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 ...
The New York State Thoroughbred Breeding and Development Fund Corporation is a New York State public-benefit corporation whose purpose is to dispose and distribute monies received for the purposes of advancement and promotion of breeding and raising thoroughbreds in N.Y.S., promotion of equine research, various awards to owners and breeders of N.Y.S. thoroughbreds for finishing 1st, 2nd, 3rd ...