Bill Text: NY A02255 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to exempting the Niagara Frontier Transit Authority from bond issuance charges.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-03 - referred to corporations, authorities and commissions [A02255 Detail]
Download: New_York-2017-A02255-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2255 2017-2018 Regular Sessions IN ASSEMBLY January 17, 2017 ___________ Introduced by M. of A. PEOPLES-STOKES -- 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 Niagara frontier transportation authority from bond issuance charges The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Legislative intent. Over the past several years, while 2 support of mass transit in the greater New York City metropolitan area 3 has expanded, state support for regional transit in the greater Buffalo 4 Niagara Falls area has not seen similar support. This lack of support 5 has adversely impacted mass transit riders in the greater Buffalo 6 Niagara region serviced by the Niagara frontier transit authority 7 (NFTA). It is the intent of the legislature that the NFTA use the 8 savings that accrue from this act for maintenance and operations and to 9 ensure that mass transit riders do not face any further service cuts. 10 § 2. Subdivision 4 of section 2976 of the public authorities law, as 11 added by section 12 of part E of chapter 494 of the laws of 2009, is 12 amended to read as follows: 13 4. The provisions of subdivisions one and two of this section shall 14 not apply to bonds issued by the Niagara frontier transportation author- 15 ity and to recovery act bonds issued by the state of New York municipal 16 bond bank agency in connection with local American Recovery and Rein- 17 vestment Act pursuant to section two thousand four hundred thirty-six-b 18 of this chapter. 19 § 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