NY Daily Record Since 1908
ALBANY — Gov. Andrew Cuomo has signed legislation to postpone for a year a key provision of New York’s recently enacted reforms for nonprofits that would prohibit employees from serving also as chairmen.
The law, intended to prevent conflicts of interest, was to have taken effect on Jan. 1.
In his sponsor’s memo, Assemblyman James Brennan, a Brooklyn Democrat, says it’s a worthy policy goal but the Legislature “requires more time to study the impact of this prohibition on not-for-profit corporations.”
It passed the Assembly 143 to 4.
In the Senate, it was sponsored by Sen. Michael Ranzehofer, an Erie County Republican.
