Skip to content
S3145Senate2017-2018 SessionSame asA2255

Remove NFTA Bond Fees

Official title

“Relates to exempting the Niagara frontier transit authority (NFTA) 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 Niagara Frontier Transportation Authority from paying bond issuance charges, aiming to support Buffalo-Niagara mass transit.

Why it matters

  1. Reduces financial burden on the NFTA. , freeing up funds that would have gone to state bond issuance fees for direct use in transit operations and maintenance—potentially improving service quality and reliability for Buffalo-Niagara riders.

  2. Signals a shift in state support toward upstate transit systems. , addressing longstanding concerns that funding and policy attention have disproportionately benefited downstate (NYC-area) transit.

  3. Aims to prevent future service cuts for local riders. , as the bill specifies that savings should be used to maintain or enhance existing service levels, directly impacting daily commuters and vulnerable populations dependent on public transit.

  4. Could set a precedent for similar exemptions for other upstate transit authorities. , potentially leading to broader changes in how New York State supports regional transit outside of the metropolitan New York City area.

The daily · weekday mornings

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

Headline styles

Remove NFTA Bond Fees

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. Reported and committed to rules
  2. Reported and committed to finance
  3. Referred to corporations, authorities and commissions
  4. Returned to senate
  5. Died in assembly
  6. Referred to corporations, authorities and commissions
  7. Delivered to assembly
  8. Passed senateVote 62–0
  9. Advanced to third reading
  10. 2nd report cal.
  11. 1st report cal.619
  12. Reported and committed to finance
Show 1 earlier action
  1. 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.

A2255Assembly

Waive NFTA Bond Fees

In Assembly Committee · Corporations, Authorities And Commissions · Sponsor Crystal Peoples-Stokes

Impact 4 · Low0% to pass

Full text

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

STATE OF NEW YORK

3145

2017-2018 Regular Sessions

IN SENATE

January 19, 2017

Introduced by Sens. RANZENHOFER, GALLIVAN, KENNEDY, ORTT -- 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 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.

Sponsor's memo

Title of bill

An act to amend the public authorities law, in relation to exempting the Niagara frontier transportation authority from bond issuance charges

Purpose

To exempt the Niagara Frontier Transportation Authority (NFTA) 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 NFTA 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 NFTA 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 NFTA, 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.6890/A.9580 - PASSED SENATE/Corporations 2015-16 - S.3328/A.8164 - PASSED SENATE/Corporations

Fiscal implications

None to state

Effective date

This act shall take effect immediately

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