Bill Text: NY A07227 | 2017-2018 | General Assembly | Introduced

New York Assembly Bill 7227 (Prior Session Legislation)

Introduced

Bill Title: Authorizes the metropolitan transportation authority to enter into an agreement to transfer certain funds of the metropolitan transportation authority to the metropolitan suburban bus authority (the Nassau Inter County Express (NICE) Bus) from revenues derived from revenues received by the MTA pursuant to article 23 of the tax law from employers located in the counties of Nassau, Queens and Suffolk.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2018-01-03 - referred to corporations, authorities and commissions [A07227 Detail]

Download: New_York-2017-A07227-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          7227
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                     April 12, 2017
                                       ___________
        Introduced  by M. of A. HOOPER, LAVINE, D'URSO -- read once and referred
          to the Committee on Corporations, Authorities and Commissions
        AN ACT to authorize the metropolitan transportation authority  to  enter
          into an agreement to transfer certain funds of the metropolitan trans-
          portation  authority  to  the metropolitan suburban bus authority; and
          providing for the repeal of such provisions upon expiration thereof
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  1.  Notwithstanding any laws, rules or regulations to the
     2  contrary, and subject to the rights of the holders  of  any  outstanding
     3  bonds,  notes  or other obligations of the authorities, the metropolitan
     4  transportation authority is hereby authorized and directed to enter into
     5  an agreement with the metropolitan suburban bus authority (Nassau  Inter
     6  County  Express  (NICE) Bus). Such agreement shall consist of a transfer
     7  of revenues, subsidies and other monies and securities received  by  the
     8  metropolitan  transportation authority pursuant to article 23 of the tax
     9  law from employers  located  in  the  counties  of  Nassau,  Queens  and
    10  Suffolk. Such agreement shall annually be not less than $12,000,000.
    11    2. Such agreement shall be executed within six months of the effective
    12  date of this act.
    13    §  2.  This  act shall take effect immediately and shall expire and be
    14  deemed repealed December 31, 2022.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07434-02-7