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Who cares
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Sponsors
2 Co-sponsors
History
- Referred to corporations, authorities and commissions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Creates the metropolitan transportation authority interim finance authority
In Senate Committee · Corporations, Authorities And Commissions · Sponsor Carl L. Marcellino
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10250
Title of bill
An act to amend the public authorities law, in relation to creating the metropolitan transportation authority interim finance authority
Purpose or general idea of bill
This legislation creates the Metropol- itan Transportation Authority Interim Finance Authority.
Summary of specific provisions
Article 10-D of the public authorities law is amended by adding a new title 1-A to create the Metropolitan Transportation Authority Interim Finance Authority.
Justification
The Metropolitan Transportation Authority (MTA) can no longer be trusted to control its own financial future. It is time to give someone else a chance to make the MTA work for the taxpayer and the rider. This legislation would create the MTA Interim Finance Authority. Not unlike the Nassau County Interim Finance Authority (NIPA) created in 2000 to oversee the County's finances.
The MTA Interim Finance Authority would be governed by a seven member, non-partisan, Board appointed with two members by the Governor, with one member by the Senate Majority and Minority Leaders, one by the Assembly Speaker and Minority Leader and one by the State Comptroller.
This plan would create the ability to monitor, oversee and most impor- tantly, control the MTA's finances during a set period. We have given the MTA every chance to right the ship. They have failed. We need a more decisive approach.
Prior legislative history
New bill.
Fiscal implications
None
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.