Bill Text: NY A02550 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 2550 (Prior Session Legislation)

Introduced

Bill Title: Exempts the Capital District Transportation Authority from bond issuance charges.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to corporations, authorities and commissions [A02550 Detail]

Download: New_York-2019-A02550-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          2550
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 23, 2019
                                       ___________
        Introduced  by  M. of A. FAHY -- 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
          Capital District 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 metropolitan area of the city  of
     3  New York has expanded, state support for regional transit in the greater
     4  Capital District area has not seen similar support. This lack of support
     5  has  adversely  impacted  mass  transit  riders  in  the greater Capital
     6  District region serviced by the Capital District transportation authori-
     7  ty (CDTA). It is the intent of the legislature that  the  CDTA  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 Capital District 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.
                                                                   LBD01016-01-9