What's happening
This bill exempts the Central New York Regional Transportation Authority from bond issuance charges to support its operations and maintenance.
Why it matters
Helps Central New York transit stretch limited funding. by removing state bond issuance charges, freeing more money for direct transit operations and maintenance instead of administrative fees.
Aims to prevent service cuts for riders. in the Central New York region, directly addressing recent concerns about inadequate state support and its negative impact on local transit users.
Creates a more level playing field between upstate and downstate transit authorities. by targeting a fee exemption that has benefited New York City area transit, potentially reducing regional disparities in state support.
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Who cares
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End CNYRTA 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.
End CNYRTA Bond Fees
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor John A. DeFrancisco
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5256
2017-2018 Regular Sessions
IN ASSEMBLY
February 7, 2017
Introduced by M. of A. MAGNARELLI -- 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 central New York regional 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 central New York (CNYRTA) area has not seen similar support. This lack of support has adversely impacted mass transit riders in the central New York region serviced by the central New York regional transportation authority (CNYRTA). It is the intent of the legislature that the CNYRTA 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 central New York regional 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.
LBD08056-01-7
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.