New York S02556 amends the public authorities law to establish requirements for disposing of property at less than fair market value.

New York S02556 amends the public authorities law to establish requirements for disposing of property at less than fair market value. The bill specifies that assets owned by public authorities cannot be sold, leased, or otherwise alienated for less than their fair market value unless certain conditions are met. These conditions include the transferee being a government or public entity, or the transfer being in the public interest and within the authority's mission or governing statutes.

New York S02556 amends the public authorities law to establish requirements for disposing of property at less than fair market value.

New York S02556 amends the public authorities law to establish requirements for disposing of property at less than fair market value. The bill specifies that assets owned by public authorities cannot be sold, leased, or otherwise alienated for less than their fair market value unless certain conditions are met. These conditions include the transferee being a government or public entity, or the transfer being in the public interest and within the authority's mission or governing statutes.