N.Y. Laws » CHAPTER Public Authorities / ARTICLE Miscellaneous Authorities / TITLE New York State Olympic Regional Development Authority
New York Consolidated Laws

N.Y. Public Authorities Law § 2618 (2026)

Property and income of the authority

✓ text as retrieved May 2026 (this copy records no edition or section history)
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§ 2618. Property and income of the authority. 1. The property of the
authority and its income and operations shall be exempt from assessments
of every kind and nature.
  2. The authority may receive, accept, invest, administer, expend and
disburse for its corporate purposes appropriations from the state and
the park district, and other revenues and moneys made available or to be
made available to it from any or all sources public or private.
  3. Any such moneys of the authority not required for immediate use
may, at the discretion of the authority, be invested pursuant to the
provisions of section ninety-eight-a of the state finance law.
  4. The authority shall accept from the New York state urban
development corporation, created by chapter one hundred seventy-four of
the laws of nineteen hundred sixty-eight, constituting the New York
state urban development corporation act, all of the personal property
acquired by it from Lake Placid nineteen hundred eighty Olympic
Organizing Games, Inc.
Notes of Decisions
Cited in 1 case, 1986–1986 · leading case: Slutzky v. Cuomo, 114 A.D.2d 116 (N.Y. App. Div. 3d Dep't 1986).
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Slutzky v. Cuomo, 114 A.D.2d 116 (N.Y. App. Div. 3d Dep't 1986). “Additionally, Public Officers Law § 17, regarding the indemnification of State officers and employees who are sued, is made applicable to ORDA officials and employees (Public Authorities Law § 2623). ORDA is a tax-exempt entity (Public Authorities Law §§ 2618, 2624).”
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