S T A T E   O F   N E W   Y O R K
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                                  1856

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 12, 2009
                               ___________

Introduced  by M. of A. NOLAN, DINOWITZ, MARKEY -- Multi-Sponsored by --
  M. of A. COLTON, COOK, GLICK, GOTTFRIED,  PHEFFER  --  read  once  and
  referred to the Committee on Corporations, Authorities and Commissions

AN  ACT  to  amend the public authorities law, in relation to increasing
  the percentage of operating surplus which the  triborough  bridge  and
  tunnel  authority is required to pay over to the New York City transit
  authority

  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 metropolitan
transportation authority, shall transfer 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 solely for application to the  payment  of  the
expenses  of  operation.  For  purposes  of determining the proportional
allocation of the operating surplus as between  the  authority  and  the
metropolitan  transportation  authority,  the  following  formula  shall
apply: (i) twenty-four million dollars plus  [fifty  percentum]  SEVENTY
PER  CENTUM  of the balance of such operating surplus shall be allocable
to the authority, and (ii) the remainder shall be allocable to metropol-
itan transportation authority on behalf of the commuter railroads  oper-
ated  by  it,  by  its  subsidiary corporations or by others under joint
arrangements.
  S 2. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.

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

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