As the vote on providing an additional $370 million of bond financing for the new Yankee Stadium in New York City nears, New York State Assemblyman Richard Brodsky has introduced a bill that would limit the amount of debt state authorities could sell based on how much public benefit the bond-financed projects would provide.

The bill, A1874, would require that bonds issued by public authorities, nonprofits, and industrial development agencies could not exceed $50 million unless the projects financed produce sufficient quantifiable benefits to the community. The test he proposes would have prevented the financing of the new Yankee Stadium that was the subject of a heated and at times belligerent hearing convened by Brodsky in Manhattan yesterday.

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