Bill Text: NY A08036 | 2019-2020 | General Assembly | Introduced

Bill Title: Exempts the metropolitan transportation authority from bond issuance charges otherwise required to be paid to the state.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Introduced) 2019-05-31 - referred to corporations, authorities and commissions [A08036 Detail]

Download: New_York-2019-A08036-Introduced.html

                STATE OF NEW YORK


                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      May 31, 2019

        Introduced  by  M.  of  A.  CUSICK,  FALL,  MALLIOTAKIS -- read once and
          referred to the Committee on Corporations, Authorities and Commissions

        AN ACT to amend the public authorities law,  in  relation  to  exempting
          certain public authorities 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. Subdivision 4 of section 2976  of  the  public  authorities
     2  law,  as  added  by  section  12 of part E of chapter 494 of the laws of
     3  2009, is amended to read as follows:
     4    4. The provisions of subdivisions one and two of  this  section  shall
     5  not  apply  to bonds, notes or other obligations issued by the metropol-
     6  itan transportation authority, and the New York city transit  authority,
     7  the  Triborough  bridge  and tunnel authority, and to recovery act bonds
     8  issued by the state of New York municipal bond bank agency in connection
     9  with local American Recovery and Reinvestment Act  pursuant  to  section
    10  two thousand four hundred thirty-six-b of this chapter.
    11    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.