The Nassau County Interim Finance Authority (NIFA) was created by the New York State Legislature as a fiscal watchdog in June 2000, following Nassau County's fiscal crisis and $105 million bailout by New York State.
NIFA's primary responsibility is to monitor and oversee the County's finances, but it also has the power to issue bonds and notes for various purposes, including the refinancing of Nassau County's debt. The group also issues reports on the County's proposed and adopted budgets and multi-year financial plans.
The seven-member board is appointed by the Governor and has members recommended by the Senate Majority Leader, the Assembly Speaker and the State Comptroller.