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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 ...
New York City Industrial Development Agency (NYCIDA) is a public benefit corporation under New York State law that provides companies with access to tax-exempt bond financing or tax benefits to strengthen and diversify the City’s tax and employment base, helps businesses locate and expand their operations within New York City, and encourages ...
The Hudson River–Black River Regulating District (HRBRRD) is a New York state public-benefit corporation that traces its formation to the creation of the Black River Regulating District in 1919, and the Hudson River Regulating District in 1922 in response to the severe historical flooding of the cities of Albany, Green Island, Rensselaer, Troy, and Watervliet by the Sacandaga River and ...
Benefit corporation or public-benefit corporation, for profit but with positive impact; Public-benefit nonprofit corporation, chartered by a state government; New York state public-benefit corporations, quasi-governmental authorities
The Capital District Transportation Authority (CDTA) is a New York State public-benefit corporation overseeing a number of multi-modal parts of public transportation in the Capital District of New York State (Albany, Montgomery, Rensselaer, Saratoga, Schenectady, Warren, and Washington counties). [4]
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