Bill Text: NY S08087 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to exempting the central New York regional transportation authority (CNYRTA) from bond issuance charges.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Engrossed - Dead) 2016-06-15 - referred to corporations, authorities and commissions [S08087 Detail]
Download: New_York-2015-S08087-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8087 IN SENATE June 10, 2016 ___________ Introduced by Sen. DeFRANCISCO -- read twice and ordered printed, and when printed to be committed to the Committee on Rules 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 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 central New York 4 (CNYRTA) area has not seen similar support. This lack of support has 5 adversely impacted mass transit riders in the central New York region 6 serviced by the central New York regional transportation authority 7 (CNYRTA). It is the intent of the legislature that the CNYRTA 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 central New York regional transporta- 15 tion authority and to recovery act bonds issued by the state of New York 16 municipal bond bank agency in connection with local American Recovery 17 and Reinvestment Act pursuant to section two thousand four hundred thir- 18 ty-six-b 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. LBD15840-01-6