Bill Text: NY A01850 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 1850 (Prior Session Legislation)

Introduced

Bill Title: Relates to exempting the central New York regional transportation authority (CNYRTA) from bond issuance charges.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to corporations, authorities and commissions [A01850 Detail]

Download: New_York-2019-A01850-Introduced.html



                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 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.
                                                                   LBD00121-01-9