ART - NY State Asset Management 2009

This document is a report or order issued by Governor David A. Paterson of the State of New York. The document establishes a Commission on Asset Maximization, which is tasked with reviewing and examining state assets that can be maximized for their value. The assets include transportation assets, the state lottery, real property, intellectual property, recreational facilities, revenues, and other state assets as deemed appropriate by the Commission. The Commission is required to accept ideas for asset maximization from private and public entities, not-for-profit institutions, research and academic institutions, and the public. The document also outlines the duties and purpose of the Commission, which includes making recommendations to the Governor, Legislature, agencies, and state authorities regarding asset maximization. These recommendations cover various aspects such as the procurement process, selection of financial advisors and underwriters, use of tax-exempt financing, use of proceeds, performance standards, regulation of user fees, protection of public employees, prevailing wage and labor standards, non-compete clauses, proposed timeline for legislative approval, means for the Executive to engage in asset maximization, and other factors as deemed appropriate by the Commission. The Commission is required to submit a Preliminary Report to the Legislature and the Governor within 90 days of the issuance of the order, containing recommendations of state assets suitable for asset maximization through private alliances. A Final Report is to be submitted within 180 days, containing recommendations and proposed legislation required to implement asset maximization. The document also includes an appendix that lists pension funds with defined benefits in infrastructure assets, as well as an acknowledgements section that acknowledges various organizations and individuals who contributed to the report.