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History
- Referred to transportation
- Referred to transportation
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.
Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transportation authority
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor James F. Brennan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3351
Title of bill
An act to amend the public authorities law, in relation to the formula for New York city transit authority operating surplus revenue
Purpose
Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transit authority
Summary of provisions
Paragraph (b) of subdivision 2 of section 1219-a of the public authorities law, as amended by section 19 of part 0 of chapter 61 of the laws of 2000, is amended to read as follows: For purposes of determining the proportional allocation of the operating surplus as between the authority and the metropolitan transit authority, the following formula shall apply: (i) twenty four million dollars plus fifty seventy-five percentum of the balance of such operating surplus shall be allocable to metropolitan transit authority, and (ii) the remainder shall be allocable to the metropolitan transportation authority on behalf of the commuter railroads operated by it, by its subsidiary corporations or by others under, joint arrangements.
Justification
As it is currently set the amount of MTA dollars leaving the five boroughs is unequal with respect to where the money is generated. A change of layout would allow the money to be spent on infrastructure and operating improvements where it is generated.
Legislative history
2014: S.3614 Referred to Transportation/ A.3127 Referred to Corporations, Authorities, and commissions. 2012: S.4814 - Referred to Transportation /A.10001 - Referred to Corporations. 2011: S.4814 - Referred to Transportation.
Fiscal implications
None.
Effective date
This act shall take effect on the sixtieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.