Bill Text: NY S03093 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to exempting the Niagara Frontier Transit Authority from bond issuance charges.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S03093 Detail]

Download: New_York-2019-S03093-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          3093
                               2019-2020 Regular Sessions
                    IN SENATE
                                    February 1, 2019
                                       ___________
        Introduced  by  Sens. RANZENHOFER, GALLIVAN, KENNEDY, ORTT -- read twice
          and ordered printed, and when printed to be committed to the Committee
          on Corporations, Authorities and Commissions
        AN ACT to amend the public authorities law, in relation to exempting the
          Niagara frontier 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 greater Buffalo
     4  Niagara Falls area has not seen similar support. This  lack  of  support
     5  has  adversely  impacted  mass  transit  riders  in  the greater Buffalo
     6  Niagara region  serviced  by  the  Niagara  frontier  transit  authority
     7  (NFTA).  It  is  the  intent  of  the  legislature that the NFTA 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 Niagara frontier 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.
                                                                   LBD01621-01-9