Bill Text: NY S08563 | 2023-2024 | General Assembly | Introduced

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Bill Title: Establishes a public transportation expansion fund for the purpose of ensuring access to public transportation for publicly funded economic development projects.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Introduced) 2024-02-14 - REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS [S08563 Detail]

Download: New_York-2023-S08563-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8563

                    IN SENATE

                                    February 14, 2024
                                       ___________

        Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Commerce, Economic  Devel-
          opment and Small Business

        AN  ACT to amend the economic development law and the state finance law,
          in relation to establishing a public transportation expansion fund

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Short  title. This act shall be known and may be cited as
     2  the "public transportation expansion fund act".
     3    § 2. The economic development law is amended by adding a  new  section
     4  233 to read as follows:
     5    §  233. Public transportation and infrastructure. 1. The commissioner,
     6  in conjunction with the commissioner of  transportation,  shall  develop
     7  and  jointly  administer  the  public  transportation expansion fund, as
     8  established pursuant to section eighty-eight-e of the state finance law,
     9  for the purpose of ensuring access to public transportation for publicly
    10  funded economic development projects.
    11    2. Eligibility shall be limited to transportation authorities in  each
    12  economic  development  region incorporated under titles eleven-A through
    13  eleven-D, inclusive of article five of the public authorities law.
    14    3. Each transportation authority shall be  eligible  for  up  to  five
    15  million  dollars  per  fiscal  year for the purposes of establishing new
    16  transit service to economic development projects, including improvements
    17  to authority, transportation, and omnibus facilities, purchase of equip-
    18  ment, purchase  of  real  property,  and  other  capital  and  operating
    19  expenses  as jointly defined by the department of transportation and the
    20  New York state urban development corporation, subject to  annual  appro-
    21  priations  and  other  funding  authorized  or  made  available for such
    22  purposes.
    23    4. As used in this  section,  "publicly  funded  economic  development
    24  project"  means  a project receiving funding, tax credits, or incentives
    25  through the urban development corporation, federal economic  development
    26  administration,  the  United  States  department  of commerce, municipal

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14412-01-4
        S. 8563                             2

     1  industrial development agencies, or any other political  subdivision  of
     2  municipal, state, or federal government.
     3    5. The commissioner, in conjunction with the commissioner of transpor-
     4  tation,  shall promulgate rules and regulations necessary for the imple-
     5  mentation of this section.
     6    § 3. The state finance law is amended by adding a new section 88-e  to
     7  read as follows:
     8    §  88-e.  Public  transportation  expansion  fund.  1. There is hereby
     9  established in the joint custody of the  commissioner  of  taxation  and
    10  finance  and  the  state  comptroller  a special fund to be known as the
    11  "public transportation expansion fund".
    12    2. The public transportation  expansion  fund  shall  consist  of  all
    13  moneys  appropriated  thereto  from any other fund or source pursuant to
    14  law.  Nothing contained in this section shall  prevent  the  state  from
    15  receiving  grants,  gifts  or  bequests  for the purposes of the fund as
    16  defined in this section and depositing them into the fund  according  to
    17  law.
    18    3.  Moneys  within  the  public transportation expansion fund shall be
    19  made available to the  commissioner  of  economic  development  and  the
    20  commissioner  of  transportation  for  the purpose of ensuring access to
    21  public transportation for publicly funded economic development  projects
    22  pursuant  to  the  provisions of section two hundred thirty-three of the
    23  economic development law.
    24    § 4. This act shall take effect immediately.