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S3328Senate2015-2016 SessionSame asA8164

Relates to exempting the Niagara frontier transit authority (NFTA) from bond issuance charges

Sponsor Michael H. RanzenhoferSD-61+4 co-sponsorsAffects Economy
Status
In Assembly Committee
Corporations, Authorities And Commissions
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Assembly · Corporations, Authorities And Commissions

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Sponsors

Primary sponsor
Michael H. Ranzenhofer

Senator · Senate District 61

Chair, Corporations, Authorities And Commissions

History

  1. Referred to corporations, authorities and commissions
  2. Delivered to assembly
  3. Passed senateVote 58–1
  4. Advanced to third reading
  5. 2nd report cal.
  6. 1st report cal.911
  7. Reported and committed to finance
  8. Referred to corporations, authorities and commissions
  9. Returned to senate
  10. Died in assembly
  11. Referred to corporations, authorities and commissions
  12. Delivered to assembly
Show 6 earlier actions
  1. Passed senateVote 60–2
  2. Advanced to third reading
  3. 2nd report cal.
  4. 1st report cal.911
  5. Reported and committed to finance
  6. 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.

A8164Assembly

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:S3328

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

2014 - S.6890/A.9580 - PASSED SENATE/Corporations

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.