What's happening
This bill exempts the Niagara Frontier Transportation Authority from paying bond issuance charges to support mass transit in the Buffalo-Niagara region.
Why it matters
Eases financial pressure on the Niagara Frontier Transportation Authority (NFTA). by removing a specific state-imposed fee, freeing up funds that would otherwise go toward bond issuance charges.
Aims to improve transit service for Buffalo-Niagara riders. by directing the NFTA to use resulting savings on maintenance and operations, potentially helping to avoid further service cuts.
Seeks to correct regional funding disparities. by acknowledging that upstate transit authorities like NFTA have not received support at the same level as downstate counterparts, and using this exemption as a step toward greater equity.
May set a precedent for other regional transit authorities. to seek similar exemptions, possibly influencing future state policy on mass transit funding across New York.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Niagara Frontier Transportation Authority (NFTA)
The bill would exempt its bonds from bond issuance charges, generating savings the legislature intends for maintenance and operations.
Buffalo Niagara mass transit riders
The bill states that the savings are intended to prevent further service cuts affecting riders in the region.
State lawmakers overseeing regional transit funding
The bill seeks to address what its legislative intent describes as unequal growth in state support for Buffalo Niagara transit compared with the greater New York City metropolitan area.
Headline styles
Waive NFTA Bond Fees
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to corporations, authorities and commissions
- 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.
Remove NFTA Bond Fees
In Senate Committee · Rules · Sponsor Michael H. Ranzenhofer
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2255
2017-2018 Regular Sessions
IN ASSEMBLY
January 17, 2017
Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the Committee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to exempting the Niagara frontier transportation authority from bond issuance charges
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Legislative intent. Over the past several years, while support of mass transit in the greater New York City metropolitan area has expanded, state support for regional transit in the greater Buffalo Niagara Falls area has not seen similar support. This lack of support has adversely impacted mass transit riders in the greater Buffalo Niagara region serviced by the Niagara frontier transit authority (NFTA). It is the intent of the legislature that the NFTA use the savings that accrue from this act for maintenance and operations and to ensure that mass transit riders do not face any further service cuts.
§ 2. Subdivision 4 of section 2976 of the public authorities law, as added by section 12 of part E of chapter 494 of the laws of 2009, is amended to read as follows:
4. The provisions of subdivisions one and two of this section shall not apply to bonds issued by the Niagara frontier transportation authority and to recovery act bonds issued by the state of New York municipal bond bank agency in connection with local American Recovery and Reinvestment Act pursuant to section two thousand four hundred thirty-six-b of this chapter.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05530-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.