Section 1020-I. Subsidiaries

1.  The authority shall have the right to
  exercise and perform all or part of its powers and functions through one
  or more wholly owned subsidiaries by acquiring the voting shares thereof
  or by resolution of the board directing any of its trustees, officers or
  employees to organize a subsidiary corporation pursuant to the  business
  corporation   law,   the   not-for-profit   corporation   law   or   the
  transportation corporations law. Such  resolution  shall  prescribe  the
  purpose for which such subsidiary corporation is to be formed.
    2.  The  authority  may  transfer  to  any  subsidiary corporation any
  moneys, property (real, personal or mixed) or  facilities  in  order  to
  carry  out  the purposes of this title. Each such subsidiary corporation
  shall have all the privileges,  immunities,  tax  exemptions  and  other
  exemptions  of the authority to the extent the same are not inconsistent
  with the statute or statutes  pursuant  to  which  such  subsidiary  was
  incorporated  provided,  however,  that in any event any such subsidiary
  corporation shall be  entitled  to  exemptions  from  the  state  public
  service  law  and  any regulation by, or the jurisdiction of, the public
  service commission, and the state environmental quality  review  act  to
  the  extent provided in subdivision two of section one thousand twenty-s
  of this title.
    * NB There are 2 § 1020-i's