Relates to providing innovative infrastructure development

BILL NUMBER:S6264

Title of bill

An act to amend the transportation law, the executive law and the public authorities law, in relation to authorizing innovative infrastructure development

Purpose

To provide flexibility to state agencies in the development of transportation infrastructure projects.

Summary of provisions

Section one adds a new article to the Transportation Law to provide the Department of Transportation greater flexibility in delivery and financing of transportation infrastructure projects.

Section two amends the Executive Law to create an Innovative Infrastructure Development Board (board) to oversee the development of transportation infrastructure projects.

Section three amends the public authorities law to provide the Metropolitan Transit Authority (MTA) greater flexibility in delivery and financing of transportation infrastructure projects.

Section four amends the public authorities law to provide the Bridge Authority greater flexibility in delivery and financing of transportation infrastructure projects.

Justification

New York State's transportation infrastructure is at crossroads The New York State Department of Transportation (DOT) has estimated that, excluding the New York State Thruway Authority, the New York State Bridge Authority and the Metropolitan Transportation Authority, the State would need to invest $175 billion over twenty years to bring the system to a state of good repair.

This legislation proposes to provide the State's principal transportation agencies increased flexibility in contracting for and financing of transportation infrastructure projects. In so doing, this bill allows a far broader array of arrangements with the private sector than are currently available under law. Through a more agile project delivery process, the state will be able to better utilize economies of scale, life-cycle efficiencies, allocation of risk and other factors in order to generate long and short-terms savings for the state; savings which can be re-invested in New York's deficient infrastructure.

To protect public monies and assets, this legislation creates the Innovative Infrastructure Development Board. In its oversight role, the board is the responsible for assuring that in every step along the way in project development, the state gets the best value for its dollar. In its development role, the board is tasked with maximizing the efficiency of the state's transportation infrastructure while at all times protecting the state's interest in those vital assets and assuring that the highest standards of service are maintained.

With current funding streams woefully inadequate to address the state's current and future transportation infrastructure funding needs, new and innovative solutions are necessary to assure that people and goods can continue to move throughout the state and continue to energize New York's economy.

Legislative history

2011-12: Finance Committee (S.5445/A.8487)

Fiscal implications

This bill is intended to create both long and short-term cost savings to the state.

Effective date

This act shall take effect immediately.