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S3506Senate2017-2018 SessionSame asA5256

End CNYRTA Bond Fees

Official title

“Relates to exempting the central New York regional transportation authority (CNYRTA) from bond issuance charges”

Sponsor John A. DeFranciscoSD-50+1 co-sponsorAffects Economy
Status
In Assembly Committee
Corporations, Authorities And Commissions
Impact
4/10
Low
Passage
0%

Bill progress

Step 5 of 7

In Assembly · Corporations, Authorities And Commissions

What's happening

This bill exempts the Central New York Regional Transportation Authority from bond issuance charges to support transit maintenance and operations.

Why it matters

  1. Levels the playing field for Central New York transit. By removing bond issuance charges specifically for the Central New York Regional Transportation Authority (CNYRTA), the legislation acknowledges past disparities in state support compared to the New York City region, which could help address regional funding inequities.

  2. Potential for more stable or improved service. The bill directs that savings from the eliminated charges be used for maintenance and operations, aiming to prevent further service cuts for mass transit riders and possibly improve service reliability or quality.

  3. May influence future transit policy. Establishing this exemption for CNYRTA could serve as a precedent for similar exemptions for other regional authorities, potentially shaping broader state transit funding policy moving forward.

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Who cares

Headline styles

End CNYRTA Bond Fees

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

Sponsors

Primary sponsor
John A. DeFrancisco

Senator · Senate District 50

1 Co-sponsor

History

  1. Referred to corporations, authorities and commissions
  2. Delivered to assembly
  3. Passed senateVote 61–0
  4. Advanced to third reading
  5. 2nd report cal.
  6. 1st report cal.1366
  7. Reported and committed to finance
  8. Referred to corporations, authorities and commissions
  9. Returned to senate
  10. Died in assembly
  11. Referred to corporations, authorities and commissions
  12. Delivered to assembly
Show 6 earlier actions
  1. Passed senateVote 63–0
  2. Advanced to third reading
  3. 2nd report cal.
  4. 1st report cal.1290
  5. Committee discharged and committed to corporations, authorities and commissions
  6. Referred to transportation

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.

A5256Assembly

End CNYRTA Bond Fees

In Assembly Committee · Corporations, Authorities And Commissions · Sponsor William Magnarelli

Impact 4 · Low0% to pass

Full text

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

STATE OF NEW YORK

3506

2017-2018 Regular Sessions

IN SENATE

January 23, 2017

Introduced by Sen. DeFRANCISCO -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation

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.

Sponsor's memo

Title of bill

An act to amend the public authorities law, in relation to exempting the central New York regional transportation authority from bond issuance charges

Purpose

To exempt the Central New York Regional Transportation Authority (Centro) from bond issuance fees required under current law.

Summary of provisions

Section 1 - states the Legislative intent

Section 2 - amends 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 to exempt Centro from the State bond issuance charge.

Section 2 - Effective date.

Existing law

Currently, bonds issued by Centro 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 Centro, and thus offer more funds to provide better service and maintenance and reduce the need for future fare and toll increases.

Legislative history

S.8087-2016

Fiscal implications

None to the 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.