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Who cares
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Sponsors
Senator · Senate District 61
No co-sponsors yet.
History
- Referred to corporations, authorities and commissions
- Delivered to assembly
- Passed senateVote 57–2
- Ordered to third reading cal.1671
- Committee discharged and committed to rules
- Reported and committed to finance
- 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.
Relates to exempting the Niagara frontier transit authority (NFTA) from bond issuance charges
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor Crystal Peoples-Stokes
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6890
Title of bill
An act to amend the public authorities law, in relation to exempting the Niagara frontier transportation authority from bond issuance charges
Purpose
To exempt the Niagara Frontier Transportation Authority (NFTA) from bond issuance fees required under current law.
Summary of specific provisions
Section 1 of the bill states the Legislative intent.
Section 2 of the bill amends subdivision 4 of section 2976 of the Public Authorities Law to exempt the NFTA from the state bond issuance charge.
Section 3 of the bill provides that this act shall take effect immediately.
Existing law
Currently, bonds issued by the NFTA are subject to the bond issuance charge imposed by Public Authorities Law section 2976.
Justification
This proposal will reduce the cost of doing business for the NFTA, and thus offer more funds to provide better service and maintenance and reduce the need for future fare and toll increases.
Prior legislative history
New bill.
Fiscal implications
None to state
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.