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50-686: 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 Hudson River and its tributaries. The HRBRRD, formed in 1959 by combining

100-604: A balanced community of commercial, residential, retail, and park space within its designated 92-acre site on the southern tip of Manhattan. The Long Island Power Authority or LIPA ["lie-pah"], a municipal subdivision of the State of New York, was created under the Long Island Power Act of 1985 to acquire the Long Island Lighting Company (LILCO)'s assets and securities. A second Long Island Power Authority (LIPA),

150-648: A favorable lease on a building in Amsterdam, New York . This company closed down, but the Overcoat Development Corporation continues to exist to service the long-term lease it signed. The Roosevelt Island Operating Corporation 's responsibility is to develop Roosevelt Island , a small strip of land in the East River that is part of the borough of Manhattan . Some of the public benefit corporations outside of New York City's metropolitan area, or serving

200-503: A more complete list, see a list of New York State public-benefit corporations Below are some of the authorities operating in and around the New York City metropolitan area . Fully titled the Hugh L. Carey Battery Park City Authority , according to its official website, the authority is: a New York State public benefit corporation whose mission is to plan, create, co-ordinate and maintain

250-535: A percentage of GDP are more widespread. Poland has a constitutional limit on public debt, set at 60% of GDP; by law, a budget cannot pass with a breach in place. Examples of other countries that have debt limits as a percentage of GDP are Kenya, Malaysia, Namibia and Pakistan. As part of the Maastricht Treaty , all member states of the European Union (except of United Kingdom that had a treaty opt-out from

300-563: A potential excessive deficit or debt level towards respecting the treaty defined maximum 60% of GDP debt level and 3% of GDP budget deficit level in the future. Between 2007 and 2013, Australia had a debt ceiling, which limited how much the Australian government could borrow. The debt ceiling was contained in section 5(1) of the Commonwealth Inscribed Stock Act 1911 until its repeal on 10 December 2013. The statutory limit

350-712: A staff of 76 people. Its staffing compensation exceeded its operating expenses in 2017 by almost $ 1.5 million in the 2018 New York State Authorities Budget Office report. The New York State Thruway Authority maintains the New York State Thruway , a system of limited-access highways within New York State. The New York State Environmental Facilities Corporation (EFC) provides low-cost capital, grants, and expert technical assistance for environmental projects in New York State. The EFC has issued more than $ 13 billion in both tax-exempt and taxable revenue bonds. In 2017,

400-529: A wholly-owned subsidiary of the first, acquired LILCO's transmission and distribution system in June 1998. The Lower Manhattan Development Corporation (LMDC) was formed after the September 11 attacks to plan the reconstruction of Lower Manhattan. It was founded by Governor George Pataki and then-Mayor Rudolph Giuliani. The LMDC is a joint State-City corporation governed by a 16-member Board of Directors, half appointed by

450-521: Is a legislative mechanism restricting the total amount that a country can borrow or how much debt it can be permitted to take on. Several countries have debt limitation restrictions. A debt limit is a legislative mechanism restricting the total amount that a country can borrow or how much debt it can be permitted to take on. It is usually set as percentage of GDP , but in a few cases as an absolute amount (for example, $ 200 billion). Several countries have debt limitation laws in place. Only Denmark and

500-781: Is a subsidiary of the New York Power Authority (it was a subsidiary of the Thruway Authority before 2017). It is responsible for the oversight, administration and maintenance of the New York State Canal System , which consists of the Erie Canal , Cayuga-Seneca Canal, Oswego Canal and Champlain Canal . It is also involved with the development and maintenance of the New York State Canalway Trail and with

550-646: Is also attractive because their independent corporate structure theoretically makes them more flexible and efficient than state agencies. Many restrictions placed on state agencies do not apply to public authorities, including, for example, general public bidding requirements (some public bidding requirements do apply under the Public Authorities Law). See Plumbing, Heating, Piping & Air Conditioning Contr. Ass'n v. N.Y.S. Thruway Auth. , 5 N.Y.2d 420 (1959). Most public authorities may also make contracts , and because of public authorities' corporate status, there

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600-481: Is generally, no remedy against the state for the breach of such contracts. John Grace & Co. v. State University Constr. Fund , 44 N.Y.2d 84 (1978). Many public authorities, such as industrial development agencies and the Empire State Development Corporation, can also condemn property. The New York State Public Authorities Control Board was created in 1976 to provide oversight for some of

650-831: The Federal Energy Regulatory Commission . New York state public-benefit corporations The growing influence of public authorities over state and local financing, coupled with their ability to avoid regulations applicable to government agencies, has led to calls for reform. Some reforms were passed in the Public Authorities Accountability Act of 2005. The New York State Authorities Budget Office , in their 2018 annual report, noted that there were 47 state authorities and 531 local authorities, including 109 IDAs and 292 not-for-profit corporations created locally, that they provided oversight for in New York State. According to this same ABO report,

700-673: The Governor of New York and half by the Mayor of New York City . The development corporation is a subsidiary of the Empire State Development Corporation. The Metropolitan Transportation Authority manages public transportation in the New York metropolitan area (this includes the New York City Subway and MTA Regional Bus Operations systems, as well as the Long Island Rail Road and

750-585: The Metro-North Railroad ). The MTA includes the following subsidiaries: The New York City Economic Development Corporation was founded in 1966 as the New York City Public Development Corporation. It is New York City's official economic development corporation . The Overcoat Development Corporation was founded in the 1980s in an attempt to convince a men's outerwear company to relocate to New York from Indiana by offering

800-575: The National Bank from the Ministry of Finance. It is regarded as a legal formality and consequently a broad consensus in the Danish Parliament has set the limit much higher than the actual debt, making the limit irrelevant (it has been raised once, in 2010 when the debt had reached about two-thirds the limit, the nearest it has ever been, at which point the limit was more than doubled). Limits as

850-657: The United Nations with its real estate and development needs. There are public benefit corporations that oversee the operations of Erie County Medical Center in Buffalo (Erie County Medical Center Corporation), Nassau University Medical Center in East Meadow (Nassau Health Care Corporation), and Westchester Medical Center in Valhalla (Westchester County Health Care Corporation). Debt limit A debt limit or debt ceiling

900-461: The United States have a debt ceiling that is set at an absolute amount rather than a percentage of GDP. The US Congress began using the measure in 1917 and modified the financing law in 1939 to give the treasury more flexibility in issuing debt. In Denmark, a debt ceiling became necessary in 1993 as a constitutional waiver when day-to-day responsibility for the public debt was transferred to

950-819: The 1930s and 40s. Much of Moses' power base resulted from his tight control of the Triborough Bridge Authority , which allowed him to earmark revenues from tolls on the bridge for other projects in New York City and around the state. He also served as president of the Jones Beach Parkway Authority (1933–1963), president of the Bethpage State Park Authority (1933–1963), and chairman of the New York Power Authority (1954–1962). Moses, through his control of these authorities,

1000-423: The 1994 case Schulz v. State , 84 N.Y.2d 231. As the court explained, state debt limits were first enacted as a reaction to fiscal crises caused by the state's lending of its credit to "irresponsible" canal and railroad corporations in the early nineteenth century. The state was forced to assume these obligations, which amounted to more than three-fifths of the state's entire debt. In 1846, a referendum requirement

1050-560: The Authority Budget Office in order "to provide the governor and the legislator with conclusions and opinions concerning the performance of public authorities and to study, review and report on the operations, practices and finances of public authorities...." The ABO is intended to promote transparency and accountability and to improve authority governance. The New York State Constitution , Art. X, sec. 5, provides that public benefit corporations may only be created by special act of

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1100-636: The Capital District of New York State ( Albany , Schenectady , and Rensselaer counties plus part of Saratoga). The function of CDTA is to operate public transportation as well as to operate the Amtrak stations in the service area (Albany-Rennselaer, Schenectady, and Saratoga Springs). It includes the following subsidies: The Central New York Regional Transportation Authority manages most public transportation in four Central New York counties - Onondaga, Oneida, Oswego and Cayuga. This includes bus service serving

1150-521: The Court of Appeals held in Williamsburgh Savings Bank v. State , 243 N.Y. 231, that the state could disclaim any moral obligation for public authority debts. However, amendments to the 1938 Constitution overruled this case and completely disclaimed the state's responsibility for any public authority debt. The widespread use of public authorities in New York State was pioneered by Robert Moses in

1200-573: The EFC had operating expenses of $ 442.35 million, an outstanding debt of $ 5.917 billion, and 115 employees. The EFC's 2009-2010 budget was in excess of $ 500 million. The statutory basis for substantially all EFC activity stems from Title 12 of Article 5 of the NYS Public Authorities Law (also called the "EFC Act") in 1970. The Capital District Transportation Authority (CDTA) is a public benefit organization which provides transportation services to

1250-478: The EMU rules while being a member), have since 1992 pledged via treaty legislation and European Union law to keep their general government debt below 60% of GDP (or on a sufficiently slowly declining trajectory towards respecting the 60% limit at some point in the future) and their annual general government budget deficit below 3% of GDP (or if above it need to be corrected with a sufficiently acceptable declining speed over

1300-952: The Office of the State Comptroller had identified at least 640 state and local authorities. The current count stands at 1,098. Some of the most well known major public benefit corporations in New York State include the Port Authority of New York and New Jersey (actually a bi-state authority created by interstate compact ), the Metropolitan Transportation Authority , and the Empire State Development Corporation . New York has hundreds of lesser-known public benefit corporations, including industrial development agencies and local development corporations. The Public Authorities Accountability Act of 2005 created

1350-497: The State". Because of this, the Court of Appeals has repeatedly affirmed that public authorities are distinct from the state and that the state carries no moral obligation to repay their debts. Although the Constitution prohibits the state from lending its credit to public authorities, it does allow the state to make gifts of money to authorities. As a practical result, this has resulted in some authorities receiving annual funding from

1400-625: The authority. Ciulla v. State , 77 N.Y.S.2d 545 (N.Y. Ct. Cl. 1948). However, public authority employees are covered by the ethics regulations included in section 74 of the Public Officers Law, and the Public Authorities Accountability Act of 2005 imposed additional ethics requirements on board members of some public authorities. Importantly, authority board members are now required to attend training sessions on ethics and governance issues. The New York State Comptroller's Office lists four types of public benefit corporations and authorities: For

1450-716: The cities of Syracuse , Utica , Rome , Oswego and Auburn . The CNYRTA includes the following subsidiaries: The New York State Bridge Authority owns and operates five bridges on the Hudson River . The Olympic Regional Development Authority was designed to administer and manage the Whiteface Mountain Ski Center and the other Winter Olympic venues used during the Lake Placid 1980 Winter Olympics . The New York Power Authority provides electricity throughout New York State. The New York State Canal Corporation

1500-408: The entire state, are listed below. The Agriculture and New York State Horse Breeding Development Fund serves equine interests in New York State and provides education concerning certain agricultural development. A 2004 audit of the fund found problems with its management. The Dormitory Authority of the State of New York (DASNY) provides construction, financing, and allied services that serve

1550-577: The establishment of each new authority, and to prevent the enactment of general laws pursuant to which a municipal corporation can itself create a corporation of the authority type ' ". While major public authorities can only be created by special legislation, many local development corporations have been created under the general Not-For-Profit Corporation Law. These LDCs function in much the same way as other public benefit corporations and public authorities, but do not need to be established by specific state legislation. Additionally, many public authorities have

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1600-541: The following few years). A revision of the EU debt rule and deficit rule is planned (also known as the Stability and Growth Pact ), although when this revision was agreed and adopted in spring 2024, it was only minor - as no changes were made to the overall treaty legislation - with changes only agreed upon to the SGP related Regulations defining how fast and flexible countries shall correct

1650-477: The general development and promotion of the Erie Canal Corridor as both a tourist attraction and a working waterway. The Rochester-Genesee Regional Transportation Authority consists of numerous subsidiaries, including: The Roswell Park Cancer Institute Corporation operates Roswell Park Comprehensive Cancer Center in Buffalo, New York. The United Nations Development Corporation was designed to assist

1700-506: The hydroelectric generation facilities within the district, however these revenues ended in 2009 because of a lawsuit. The HRBRRD then tried to obtain revenue from the counties to which it provided flood relief, i.e., Warren , Washington , Saratoga , Rensselaer , and Albany and a lawsuit was filed in response. The HRBRRD now receives revenue from Brookfield Renewable Power in the amount of $ 1.4 million per year (with an annual 3 percent increase), from permit fees charged to land owners along

1750-463: 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.... Abbott Low Moffat, who supported this proposal, told the convention that its purpose was 'to require the Legislature to pass directly itself upon

1800-460: The operating expenses in 2017 for the 47 state authorities was $ 34.82 billion. Additionally, the 47 state authorities carried a total of $ 160.4 billion in outstanding debt. Public benefit corporations in New York State have origins in mercantile capitalism . A shared tradition of English common law and Dutch law may explain their origins. The New York Court of Appeals provided a thorough history of state laws regarding public authorities in

1850-399: The power to create subsidiary authorities without additional legislative authorization. An example is the Empire State Development Corporation, which decided in 2007 to dissolve 13 subsidiaries and merge 25 others into a single holding company. ESDC still encompasses many subsidiary organizations. The 1938 Constitution "expressly empowered public authorities to contract debt independently of

1900-505: The proliferation of public authorities by specifying that they could be created only by special act of the state legislature. By 1956, 53 public authorities had been created. In 1990, the Commission on Government Integrity concluded that "At present, so far as Commission staff has been able to determine, no one has even an approximate count of how many of these organizations exist, where they are, much less an accounting of what they do." By 2004,

1950-476: The public good, to benefit specifically universities, health care facilities, and court facilities. The Empire State Development , also known as the Urban Development Corporation, maintains various programs and subsidiaries to encourage economic development in New York State. The Natural Heritage Trust supports natural resource conservation and historic preservation within New York State through

2000-568: The reception and administration of donations and grants. It partners with several state agencies, including the New York State Office of Parks, Recreation and Historic Preservation , New York State Department of Environmental Conservation , and the New York State Department of State ; partners also include other public and private entities. The trust was established in 1968. In 2017, it had operating expenses of $ 1.54 million and

2050-649: The shoreline of the Great Sacandaga Lake in the amount of $ 412,000 per year, and from dam maintenance fees received from the hydroelectric facilities in an annual amount of $ 471,000. After those three sources of revenue are accounted for, the remaining operating expenses and debt are paid for by the HRBRRD's benefiting county governments based upon assessed property value along the river system. The HRBRRD owns and operates six dams and their accompanying reservoirs. These facilities include: The dams are inspected annually by

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2100-455: The state had a moral obligation to repay the debts if canal revenues proved insufficient, and thus the certificates were deemed "an evasion if not a direct violation of the constitution". In 1921, the legislature chartered the first state public authority, the Port of New York Authority , as a new vehicle for financing public projects while insulating the state from long term debt obligations. In 1926,

2150-533: The state on a consistent basis. The Court of Appeals stated in Schulz v. State , 84 N.Y.2d 231 (1994) that, if "modern ingenuity, even gimmickry, have in fact stretched the words of the Constitution beyond the point of prudence, that plea for reform in State borrowing practices and policy is appropriately directed to the public arena". See also Wein v. State , 39 N.Y.2d 136 (1976); Wein v. Levitt , 42 N.Y.2d 300 (1977). Financing public projects through public authorities

2200-539: The state's debt and 80% of the state's infrastructure, leading some to refer to them as the "shadow government". Public benefit corporations and public authorities are controlled by boards of directors made up of political appointees. Board members have fixed terms and are, at least in theory, considered to be more independent of political influence than elected politicians and appointed agency heads. Board members and employees of public authorities usually are not considered to be state employees, but are rather employees of

2250-511: The state's most powerful authorities. Sections 50 and 51 of the Public Authorities Law currently require 11 authorities to receive approval from the PACB prior to entering into contracts for project-related financing. There are five members on the PACB board, all of whom are appointed by the governor and serve year-long terms. Public authorities are currently responsible for more than 90% of

2300-490: The two entities, collects excess runoff to reduce flooding impacts in the Hudson River and Black River basins, and releases this captured water gradually during periods of low river flow to maintain water quality in each river basin. This system was designed to reduce damage from spring storms and snowmelt , including disease and destruction of life and property, and to improve river navigation and public sanitation. The HRBRRD

2350-760: Was able to build some of New York's most important public works projects, including the Cross Bronx Expressway , the Brooklyn-Queens Expressway , and various bridges and parkways. The public authority model allowed Moses to bypass many of the legal restrictions placed on state agencies, allowing him to expedite development but also allowing him to hide project financing, contracting and operational information from public scrutiny. Because of this, he has been criticized for wasteful spending, patronage, and refusing to consider public opposition to his projects. The 1938 constitutional amendments attempted to limit

2400-539: Was added to the state constitution, prohibiting the state from contracting long term debt without approval by the voters. As early as 1851, the legislature began to search for ways to evade the constitutional debt limit in order to finance public works projects. Canal certificates, which would be repaid through canal revenues, and which by their terms were not state obligations, were nevertheless held to be unconstitutional in Newell v. People , 7 N.Y. 9 (1852). The court held that

2450-639: Was also formed with hydroelectric generation in mind. It owns and operates several dams —including the Conklingville Dam which formed the Great Sacandaga Lake —and reservoirs . The HRBRRD is guided by a 7-member board. Its management team is headed by Executive Director John C. Callaghan, Sr. In 2017, it had operating expenses of $ 8.53 million, no outstanding debt, and a staffing level of 24 people. For decades, HRBRRD's revenues came from lease agreements with electrical power companies who operate

2500-496: Was created in 2007 by the Rudd government and set at $ 75 billion. It was increased in 2009 to $ 200 billion, $ 250 billion in 2011 and $ 300 billion in May 2012. In November 2013, Treasurer Joe Hockey requested Parliament's approval for an increase in the debt limit from $ 300 billion to $ 500 billion, saying that the limit will be exhausted by mid-December 2013. With

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