A 7701: Appoints a fiscal monitor for five years; defines terms; provides for such appointment; provides for the duties of such fiscal monitor.

  
  STATE OF NEW YORK ________________________________________________________________________ 7701 2025-2026 Regular Sessions  IN ASSEMBLY April 8, 2025 ___________ Introduced by M. of A. STERN -- read once and referred to the Committee on Corporations, Authorities and Commissions AN ACT in relation to appointing a fiscal monitor for the metropolitan transportation authority; and providing for the repeal of such provisions upon expiration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Definitions. For the purposes of this act, the following 2 terms shall have the following meanings: 3 1. "Monitor" shall mean the person appointed pursuant to section two 4 of this act. 5 2. "MTA" shall mean the New York State Metropolitan Transportation 6 Authority. 7 3. "Governor" shall mean the governor of the state of New York. 8 4. "Comptroller" shall mean the state comptroller. 9 § 2. Appointment. 1. The governor shall appoint a fiscal monitor, 10 subject to appropriation, to provide direct oversight of the fiscal 11 policies, practices, programs, and decisions of the MTA. The governor 12 shall provide the monitor with technical support and assistance for the 13 purposes of carrying out their duties under this act, if requested by 14 the monitor. The monitor shall serve at the pleasure of the governor. 15 2. The monitor shall be paid a fixed salary set by the governor and 16 shall be reimbursed for actual and necessary expenses incurred in the 17 performance of their duties including travel and supplies. The costs 18 associated with the implementation of this act shall be borne by the 19 state and shall be paid through a state appropriation. 20 3. The monitor shall be a non-voting ex-officio member of the MTA 21 board. The monitor shall be an individual who is not an employee of the 22 MTA or a relative of MTA board members at the time of their appointment. 23 The monitor shall have experience in public finance and, to the extent 24 practical, shall have experience in one or more of the following areas: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00881-01-5 
 A. 7701 2 1 (a) transportation finance; 2 (b) the operation of public authorities in New York; 3 (c) public transportation; or 4 (d) public policy. 5 § 3. Meetings. The monitor shall be entitled to attend all meetings of 6 the MTA board, including executive sessions; provided, however, that the 7 monitor shall not be considered for purposes of establishing a quorum of 8 the board. The MTA shall fully cooperate with any monitor appointed by 9 the governor, including but not limited to providing such monitor with 10 access to any necessary documents and records of the MTA including 11 access to electronic information systems, databases, and planning docu- 12 ments, consistent with all applicable state and federal statutes includ- 13 ing but not limited to the Freedom of Information Law pursuant to arti- 14 cle six of the public officers law and the Personal Privacy Protection 15 Law pursuant to article 6-A of the public officers law. 16 § 4. Duties of the fiscal monitor. The fiscal monitor shall have the 17 following duties, including but not limited to: 18 1. Review and analyze the MTA's annual budget and financial plan, 19 including operating and capital expenses and revenues, and make recom- 20 mendations for improving financial management and sustainability; 21 2. Review and evaluate the MTA's debt levels and debt management prac- 22 tices, and make recommendations for reducing debt and improving debt 23 management; 24 3. Review and assess the MTA's procurement practices, including 25 contracts for goods and services, and make recommendations for improving 26 efficiency and reducing costs; 27 4. Review and evaluate the MTA's internal controls and financial 28 reporting practices, and make recommendations for improving transparency 29 and accountability; 30 5. Monitor and report on the MTA's compliance with applicable laws, 31 regulations, and policies relating to financial management and report- 32 ing; and 33 6. Provide regular reports to the governor, the state legislature, and 34 the public on the MTA's financial performance and fiscal management. 35 § 5. This act shall take effect immediately and shall expire and be 36 deemed repealed five years after such effective date.