Senate Bill S3377

2013-2014 Legislative Session

Provides TBTA shall transfer entire operating surplus to MTA which shall by resolution transfer a portion to NYCTA and retain a portion; repealer

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Archive: Last Bill Status - In Senate Committee Transportation Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-S3377 (ACTIVE) - Details

Current Committee:
Senate Transportation
Law Section:
Public Authorities Law
Laws Affected:
Amd §§1219-a & 553-d, rpld §1219-a sub 3, Pub Auth L
Versions Introduced in 2011-2012 Legislative Session:
S5279

2013-S3377 (ACTIVE) - Summary

Provides that the triborough bridge and tunnel authority shall transfer in its entirety its annual operating surplus to the metropolitan transportation authority; provides that the metropolitan transportation authority shall, pursuant to resolution, transfer a portion of such surplus to the New York city transit authority (solely for application to the payment of its operating expenses) and retain a portion for application to the payment of its operating expenses and the operating expenses of commuter railroads operated by it, its subsidiary corporations or by others pursuant to joint service arrangements; repeals provisions relating to formula for proportional allocation of the operating surplus of the TBTA between the NYCTA and MTA.

2013-S3377 (ACTIVE) - Sponsor Memo

2013-S3377 (ACTIVE) - Bill Text download pdf

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

                                  3377

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 1, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Transportation

AN ACT to amend the public authorities law, in  relation  to  the  allo-
  cation of the triborough bridge and tunnel authority operating surplus
  and to repeal certain provisions of such law relating thereto

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (b) of subdivision 2 of  section  1219-a  of  the
public authorities law, as amended by section 19 of part O of chapter 61
of the laws of 2000, is amended to read as follows:
  (b)  Promptly  upon  the  making of the certification of its operating
surplus, if any, for its fiscal year ending December thirty-first, nine-
teen hundred seventy-two and for each of its  subsequent  fiscal  years,
triborough  bridge  and tunnel authority[, at the direction of metropol-
itan transportation authority,] shall  transfer  IN  ITS  ENTIRETY  such
operating surplus [(1)] to the metropolitan transportation authority for
deposit into one or more funds or accounts to be used as contemplated by
section  twelve  hundred  seventy-d  of  this  article,  or [(2)] to the
authority and the metropolitan transportation authority WHICH,  PURSUANT
TO  RESOLUTION,  SHALL  (1) TRANSFER A PORTION OF SUCH AMOUNT TO THE NEW
YORK CITY TRANSIT AUTHORITY solely for application  to  the  payment  of
[the]  ITS  expenses  of  operation  [.  For purposes of determining the
proportional allocation of the operating surplus as between the authori-
ty and the metropolitan transportation authority, the following  formula
shall apply: (i) twenty-four million dollars plus fifty percentum of the
balance  of  such operating surplus shall be allocable to the authority,
and (ii) the remainder shall be allocable to metropolitan transportation
authority on behalf], AND (2) RETAIN A PORTION OF SUCH AMOUNT FOR APPLI-
CATION TO THE PAYMENT of the commuter railroads operated by it,  by  its
subsidiary corporations or by others under joint arrangements.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08334-01-3

              

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