Jim Ostrowski advises as follows:
In a brief ruling, Justice Michael Lynch today dismissed the taxpayer lawsuit to end the transfer of as much as two billion dollars in insolvent New York’s money to wealthy private corporations.
The decision is published here:
Essentially, the court held that the state could do an end run around the constitution by setting up a “public corporation” (Empire State Development Corp.) to receive funds from the state and hand them over to private firms when the state itself could not do so.
We vehemently disagree and intend to file an immediate appeal. The state cannot amend the Constitution by statute, obviously. We will also propose an amendment to the state constitution to emphasize that the current ban on corporate welfare really means what it says.
But for now, the state can continue to collect money from its citizens by threat of prison and hand that money over to millionaires and billionaires.
Attorney for the Plaintiffs
Comment at: http://politicalclassdismissed.com/?p=4870