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S3143Senate2017-2018 Session

End Bond Fees for RGRTA

Official title

“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 Senate Committee
Rules
Impact
4/10
Low
Passage
0%

Bill progress

Step 2 of 7

In committee · Rules

What's happening

This bill exempts the Rochester-Genesee Regional Transportation Authority from state bond issuance charges to support transit operations.

Why it matters

  1. Potential for More Local Transit Funding. By exempting the Rochester-Genesee Regional Transportation Authority (RGRTA) from state bond issuance charges, the authority could retain more of its borrowed funds, making more money available for ongoing operations and maintenance rather than paying fees to the state.

  2. Intended to Prevent Service Cuts. The legislative intent explicitly directs that any savings from this exemption should be used to maintain transit services and avoid further service cuts, which may benefit riders who rely on public transportation in the Rochester-Genesee region.

  3. Addresses Regional Funding Imbalance. The bill responds to concerns that upstate transit systems like RGRTA have not received the same level of state support as the New York City area, aiming to make funding for mass transit in the region more equitable and potentially improving service quality or stability for local residents.

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Who cares

Headline styles

End Bond Fees for RGRTA

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Michael H. Ranzenhofer

Senator · Senate District 61

Chair, Corporations, Authorities And Commissions

History

  1. Committed to rules
  2. Advanced to third reading
  3. 2nd report cal.
  4. 1st report cal.1365
  5. Reported and committed to finance
  6. Referred to corporations, authorities and commissions
  7. Returned to senate
  8. Died in assembly
  9. Referred to corporations, authorities and commissions
  10. Delivered to assembly
  11. Passed senateVote 61–1
  12. Advanced to third reading
Show 4 earlier actions
  1. 2nd report cal.
  2. 1st report cal.618
  3. Reported and committed to finance
  4. Referred to corporations, authorities and commissions

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

3143

2017-2018 Regular Sessions

IN SENATE

January 19, 2017

Introduced by Sens. RANZENHOFER, FUNKE, GALLIVAN, ROBACH -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions

AN ACT to amend the public authorities law, in relation to exempting the Rochester-Genesee 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 greater Rochester Genesee area has not seen similar support. This lack of support has adversely impacted mass transit riders in the greater Rochester Genesee region serviced by the Rochester-Genesee regional transportation authority (RGRTA). It is the intent of the legislature that the RGRTA 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 Rochester-Genesee 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.

LBD06141-01-7

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Sponsor's memo

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 2015-16 - S.3386 - 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.