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S3386Senate2015-2016 Session

Relates to exempting the Rochester-Genesee regional transportation authority (RGRTA) from bond issuance charges

Sponsor Michael H. RanzenhoferSD-61+3 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 59–2
  4. Advanced to third reading
  5. 2nd report cal.
  6. 1st report cal.1169
  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.912
  5. Reported and committed to finance
  6. Referred to corporations, authorities and commissions

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S3386

Title of bill

An act to amend the public authorities law, in relation to exempting the Rochester-Genesee regional transportation authority from bond issuance charges

Purpose

To exempt the Rochester-Genesee Regional Transportation Authority (RGRTA) 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 RGRTA 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 RGRTA 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 RGRTA, 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.6892 - PASSED SENATE FISCAL

Implications

None to the state.

Effective date

This bill shall take effect immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.