What's happening
This bill exempts the Capital District Transportation Authority from paying bond issuance charges, allowing savings for transit operations and maintenance.
Why it matters
Directs cost savings specifically toward the operations and maintenance. of the Capital District Transportation Authority (CDTA), which could help prevent further service reductions for riders in the region.
Addresses a long-standing funding disparity. between mass transit in the Capital District (Albany region) and the greater New York City area, aiming to improve transit equity across the state.
Could free up local and state resources. that might otherwise go toward paying off bond issuance charges, allowing those funds to be redirected to other transportation or community needs in the Capital District.
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Who cares
Capital District Transportation Authority (CDTA)
The bill would exempt CDTA bonds from bond issuance charges, creating savings intended for maintenance and operations.
Capital District transit riders
The bill states that the savings are intended to prevent further service cuts for riders in the region.
CDTA maintenance and operations staff
The legislature’s stated intent would direct the savings toward the maintenance and operations work they perform.
Headline styles
Waive CDTA Bond Fees
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
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.
Waive CDTA Bond Fees
In Senate Committee · Transportation · Sponsor George Amedore
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5725
2017-2018 Regular Sessions
IN ASSEMBLY
February 14, 2017
Introduced by M. of A. FAHY, McDONALD -- 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 Capital District 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 metropolitan area of the city of New York has expanded, state support for regional transit in the greater Capital District area has not seen similar support. This lack of support has adversely impacted mass transit riders in the greater Capital District region serviced by the Capital District transportation authority (CDTA). It is the intent of the legislature that the CDTA 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 Capital District 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.
LBD09290-01-7
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.