Cuomo's plan could boost borrowing

PHOTO: Karen DeWitt / NY Public Radio

ALBANY, N.Y. (AP) - Three state officials say one 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 comptroller.

Cuomo's budget office had no immediate comment.

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