Some of the public benefit corporations outside of New York City's metropolitan area, or serving the entire state, are listed below. What is a “public benefit”? The certificate of incorporation must include all of the statements required by BCL §402 including the corporation’s business purpose. Are Public Corporations required to register in New York State? 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). [9] 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. Office Closures: Out of an abundance of caution and in line with recent guidance issued by the Center for Disease Control and New York State, the Division of Corporations, State Records and Uniform Commercial Code Customer Service Counter in Albany New York will only be handling service of process, as described below, due to COVID-19. A "benefit corporation" is a business corporation that has among its corporate purposes creating "general public benefit," meaning "a material positive impact on society and the environment, taken as a whole." The name of a benefit corporation must comply with the provisions of §301 of the Business Corporation Law. It is New York City's official economic development corporation.[14]. Benefit corporations may also file a paper certificate of incorporation with the Department of State. A sample form is available on the Department’s website. The completed certificate of incorporation, together with the statutory filing fee, should be forwarded to the New York Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231. It was founded by Governor George Pataki and then-Mayor Rudolph Giuliani. [17] In 2017, it had operating expenses of $1.54 million and a staff of 76 people. 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. This information is best viewed with Netscape … Over the past two hundred years, each generation of fathers has had less authority than the last.  Additionally, the certificate of incorporation must include a statement that “The corporation is a benefit corporation under Article 17 of the Business Corporation Law.” This statement is not a statement of purposes and should be set forth in a separate paragraph of the certificate of incorporation. The 1938 constitutional amendments attempted to limit the proliferation of public authorities by specifying that they could be created only by special act of the state legislature. . The New York Court of Appeals provided a thorough history of state laws regarding public authorities in the 1994 case Schulz v. State, 84 N.Y.2d 231. 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. 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). This page was last edited on 18 August 2020, at 22:36. Class D public authorities have interstate and international jurisdiction. ... be known as the Westchester county health care corporation which shall be a body corporate and politic constituting a public benefit corporation. The EFC has issued more than $13 billion in both tax-exempt and taxable revenue bonds. The EFC is a public benefit corporation created in 1970 to promote environmental quality by providing low-cost financing and technical assistance to municipalities, businesses, and state agencies for environmental projects in New York State. 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. Masculinity ceased to be defined in terms of domestic involvement, skills at fathering and husbanding, but began to be defined in terms of making money. The correct name of the entity the Times was speaking of is the Overcoat Development Corporation,[25] which was designed to lure a clothing manufacturer to New York from Indiana in the 1980s. The LMDC is a joint State-City corporation governed by a 16-member Board of Directors, half appointed by the Governor of New York and half by the Mayor of New York City. 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. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. Center Corporation, New York Convention Center Operating Corporation, Niagara Frontier Transportation Authority, Roswell Park Cancer Institute Corporation, Westchester County Health Care Corporation, https://en.wikipedia.org/w/index.php?title=New_York_state_public-benefit_corporations&oldid=973733298, Public benefit corporations in New York (state), Articles lacking in-text citations from December 2016, Creative Commons Attribution-ShareAlike License, Class A — these authorities and public benefit corporations have regional or statewide significance, Class B — according to the Comptroller's office, these "[e]ntities affiliated [are] with a State agency, or entities created by the State that have limited jurisdiction but a majority of Board appointments made by the Governor or other State officials; entities that would not exist but for their relationship with the State.". Their business is recorded as FOREIGN BUSINESS CORPORATION.The Company's current operating status is Active Curtis Shannon, Plaintiff-appellant, v. New York City Transit Authority, a Public Benefit Corporation and the Manhattan and Bronx Surface Transit Operating Authority, a Public Benefit Corporation, Defendants-appellees, 332 F.3d 95 (2d Cir. The Public Authorities Accountability Act of 2005 created 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...."[1] The ABO is intended to promote transparency and accountability and to improve authority governance. Thruway Auth., 5 N.Y.2d 420 (1959). The Overcoat Development Corporation was founded in the 1980s to lure a men's outerwear company to New York City. V. State Of New York, Et Al", "Office of the New York State Comptroller - Thomas P. DiNapoli - Home", "New York's 'shadow government' debt rises to $140 billion", "Agriculture and New York State Horse Breeding Development Fund - Internal Controls Over Financial Operations [Issued 2/15/05] [NY]", "N.Y. POWER AUTHORITY TO ASSUME OWNERSHIP OF CANAL CORPORATION ON NEW YEAR'S DAY", "Office of the New York State Comptroller - Thomas P. DiNapoli - Public Authorities", NYS Office of the State Comptroller list of Public Authorities, NYS Authorities Budget Office list of Public Authorities, Board on Electric Generation Siting and the Environment, New York state public-benefit corporations, Agriculture & New York State Horse Breeding Development Fund, Homeless Housing & Assistance Corporation, New York Local Government Assistance Corporation, New York State Affordable Housing Corporation, New York State Archives Partnership Trust, New York State Energy Research & Development Authority, New York State Foundation for Science, Technology and Innovation, New York State Housing Trust Fund Corporation, New York State Thoroughbred Breeding and Development Fund Corporation, New York State Urban Development Corporation, State of New York Municipal Bond Bank Agency, New York State Theatre Institute Corporation, Development Authority of the North Country, Hudson River-Black River Regulating District, Municipal Assistance Corporation for the City of NY, Municipal Assistance Corporation for the City of Troy, Nelson A. Rockefeller Empire State Plaza Performing Arts Moses, through his control of these authorities, 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. Origins. A public benefit corporation is a corporation created specifically to benefit the public in some way. The court held that 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". A benefit corporation’s certificate of incorporation is not required to include a statement regarding general public benefit purpose. See Plumbing, Heating, Piping & Air Conditioning Contr. Some reforms were passed in the Public Authorities Accountability Act of 2005. : the New York power Authority provides electricity throughout New York State local! [ 5 ] the current count stands at 1,098. 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