Bill Text: NY S03386 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to exempting the Rochester-Genesee Regional Transportation Authority from bond issuance charges.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Engrossed - Dead) 2016-06-14 - referred to corporations, authorities and commissions [S03386 Detail]

Download: New_York-2015-S03386-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3386
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   February 6, 2015
                                      ___________
       Introduced by Sens. RANZENHOFER, FUNKE, ROBACH -- read twice and ordered
         printed,  and  when printed to be committed to the Committee on Corpo-
         rations, Authorities and Commissions
       AN ACT to amend the public authorities law, in relation to exempting the
         Rochester-Genesee regional 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 Roches-
    4  ter Genesee area has not seen similar support. This lack of support  has
    5  adversely  impacted mass transit riders in the greater Rochester Genesee
    6  region serviced by the Rochester-Genesee regional transportation author-
    7  ity (RGRTA). It is the intent of the legislature that the RGRTA 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    S 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 ROCHESTER-GENESEE REGIONAL TRANSPORTA-
   15  TION AUTHORITY AND to recovery act bonds issued by the state of New York
   16  municipal bond bank agency in connection with  local  American  Recovery
   17  and Reinvestment Act pursuant to section two thousand four hundred thir-
   18  ty-six-b of this chapter.
   19    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD08530-01-5