Bill Text: NY A02707 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to the funding of public transit systems.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to ways and means [A02707 Detail]

Download: New_York-2017-A02707-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          2707
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    January 23, 2017
                                       ___________
        Introduced  by  M. of A. FAHY -- read once and referred to the Committee
          on Ways and Means
        AN ACT to amend the state finance law, in relation  to  the  funding  of
          public  transit  systems; and to repeal paragraph (c) of subdivision 5
          of section 88-a of the state finance law relating thereto
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (c) of subdivision 5 of section 88-a of the state
     2  finance  law is REPEALED and two new paragraphs (c) and (d) are added to
     3  read as follows:
     4    (c) Notwithstanding any law to the contrary, the comptroller is hereby
     5  authorized and directed to transfer from the general  fund  for  deposit
     6  into  the  public transportation system operating assistance account, on
     7  or before March thirty-first of  each  year,  an  amount  equal  to  the
     8  following:
     9    (i)  For the state fiscal year ending March thirty-first, two thousand
    10  eighteen, fifteen million dollars;
    11    (ii) In each succeeding state fiscal year, the  transfer  shall  equal
    12  the  product  of two hundred five million six hundred fifty-two thousand
    13  one hundred dollars and one plus the growth factor. For the purposes  of
    14  this subparagraph, the growth factor is the percentage, if any, by which
    15  the  aggregate  amount  of  revenue  deposited  in the metropolitan mass
    16  transportation operating assistance account for the twelve month  period
    17  ending  on  December  thirty-first of the immediately preceding calendar
    18  year exceeds the aggregate amount of revenue deposited in the  metropol-
    19  itan  mass  transportation  operating  assistance account for the twelve
    20  month period ending on December thirty-first, two thousand  fifteen.  In
    21  no  year will the amount of the deposit authorized under this section be
    22  less than the amount made in the prior year.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02666-01-7
        A. 2707                             2
     1    (d) Any financial settlement funds collected by the state on or  after
     2  April first, two thousand seventeen shall be dedicated to New York state
     3  upstate and downstate transit systems, as follows:
     4    (i)  two-thirds  of such financial settlement funds shall be allocated
     5  to the metropolitan transportation authority; and
     6    (ii) one-third of such financial settlement funds shall  be  allocated
     7  for  upstate  transit,  roads and bridges and downstate non-metropolitan
     8  transportation authority transit systems.
     9    § 2. This act shall take effect immediately.