What's happening
This bill exempts the Central New York Regional Transportation Authority from paying bond issuance charges to support transit operations.
Why it matters
Directs cost savings to riders. By exempting the Central New York Regional Transportation Authority (CNYRTA) from state bond issuance charges, the bill intends for those savings to be used for maintenance and operations, aiming to prevent further service cuts that would impact mass transit users in the region.
Addresses regional funding disparities. The legislative intent explicitly highlights that, unlike the New York City area, Central New York transit has not received equivalent state support. This exemption is a targeted effort to address that funding gap and bolster transit services outside NYC.
Frees up local resources. Without the burden of bond issuance fees, CNYRTA can allocate more of its budget to core transit functions, potentially improving reliability, safety, and service quality for riders without needing additional state appropriations.
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Who cares
Headline styles
No Bond Fees for CNYRTA
Plain English, a few words. Used as the page title.
Sponsors
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History
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1850
2019-2020 Regular Sessions
IN ASSEMBLY
January 17, 2019
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.
LBD00121-01-9
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.