senate Bill S6892

Relates to exempting the Rochester-Genesee regional transportation authority (RGRTA) from bond issuance charges

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 26 / Mar / 2014
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 12 / May / 2014
    • REPORTED AND COMMITTED TO FINANCE
  • 20 / Jun / 2014
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 20 / Jun / 2014
    • ORDERED TO THIRD READING CAL.1672
  • 20 / Jun / 2014
    • PASSED SENATE
  • 20 / Jun / 2014
    • DELIVERED TO ASSEMBLY
  • 20 / Jun / 2014
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Summary

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

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Bill Details

Versions:
S6892
Legislative Cycle:
2013-2014
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง2976, Pub Auth L

Sponsor Memo

BILL NUMBER:S6892

TITLE OF BILL: An act to amend the public authorities law, in
relation to exempting the Rochester-Genesee regional transportation
authority from bond issuance charges

PURPOSE: To exempt the Rochester-Genesee Regional Transportation
Authority (RGRTA) from bond issuance fees required under current law.

SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill states the
Legislative intent.

Section 2 of the bill amends subdivision 4 of section 2976 of the
Public Authorities Law to exempt the RGRTA from the state bond
issuance charge

Section 3 of the bill provides that this act shall take effect
immediately.

EXISTING LAW: Currently, bonds issued by the RGRTA are subject to the
bond issuance charge imposed by Public Authorities Law section 2976.

JUSTIFICATION: This proposal will reduce the cost of doing business
for the RGRTA, and thus offer more funds to provide better service and
maintenance and reduce the need for future fare and toll increases.

PRIOR LEGISLATIVE HISTORY: New Bill

FISCAL IMPLICATIONS: None to the state.

EFFECTIVE DATE: This bill shall take effect immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6892

                            I N  S E N A T E

                             March 26, 2014
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities 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:

  Section  1.  Legislative  intent.  Over  the past several years, while
support of mass transit in the greater New York City  metropolitan  area
has  expanded, state support for regional transit in the greater Roches-
ter Genesee area has not seen similar support. This lack of support  has
adversely  impacted mass transit riders in the greater Rochester Genesee
region serviced by the Rochester-Genesee regional transportation author-
ity (RGRTA). It is the intent of the legislature that the RGRTA use  the
savings  that accrue from this act for maintenance and operations and to
ensure that mass transit riders do not face any further service cuts.
  S 2. Subdivision 4 of section 2976 of the public authorities  law,  as
added  by  section  12  of part E of chapter 494 of the laws of 2009, is
amended to read as follows:
  4. The provisions of subdivisions one and two of  this  section  shall
not  apply TO BONDS ISSUED BY THE ROCHESTER-GENESEE REGIONAL TRANSPORTA-
TION AUTHORITY AND to recovery act bonds issued by the state of New York
municipal bond bank agency in connection with  local  American  Recovery
and Reinvestment Act pursuant to section two thousand four hundred thir-
ty-six-b of this chapter.
  S 3. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14531-01-4

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