APNewsBreak: Cuomo’s plan could boost borrowing

ALBANY, N.Y. (AP) – Three state officials say
1 of Gov. Andrew Cuomo's proposed budget amendments could
greatly expand the power for state and local governments to borrow money
with less independent oversight while potentially avoiding approval
from voters or the Legislature.

The officials familiar with
Cuomo's proposed amendments say one proposal appears to let the state
Dormitory Authority extend its borrowing power beyond campuses and state
buildings to a wide array of state and local projects.

The officials spoke on the
condition of anonymity because of the sensitivity of negotiations
between the governor and Legislature.

That could mean more
so-called back-door borrowing that has run up the state's debt without
requiring approvals by the Legislature or review by the state

Cuomo's budget office had no immediate comment.

2012 The Associated Press. All rights reserved. This material may not
be published, broadcast, rewritten or redistributed.

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