Relates to disposals and contracts for disposal of property

This bill updates New York State laws to strengthen oversight when public authorities sell or lease property for less than its fair market value. It requires that any such below-market deals be approved by the governor or the legislature, who have sixty days to review the proposal and deny it if necessary. Before approving a discounted sale, the authority must provide detailed information to the public, including an asset appraisal, the purpose of the transfer, and details about any competing offers. The legislation also clarifies rules for properties with rights of first refusal and ensures that discounted transfers are only allowed when no better alternative exists to achieve the same goal.