New York Assembly Speaker Sheldon Silver introduced a bill Wednesday to create a financial review board to oversee the state’s fiscal health and borrow up to $6 billion to close the deficit.

A. 10408, the Financial Recovery Act of 2010, was modeled on a proposal by Lieut. Gov. Richard Ravitch and would allow for deficit borrowing as the state converted its cash-budgeting process to generally accepted accounting principles.

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