|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 13, 2012||referred to corporations, authorities and commissions|
delivered to assembly
ordered to third reading cal.1212
committee discharged and committed to rules
|Feb 09, 2012||referred to corporations, authorities and commissions|
senate Bill S6432
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6432 - Details
- See Assembly Version of this Bill:
- Current Committee:
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §2976, Pub Auth L
S6432 - Summary
Exempts the metropolitan transportation authority from bond issuance charges otherwise required to be paid to the state.
S6432 - Sponsor Memo
BILL NUMBER:S6432 TITLE OF BILL: An act to amend the public authorities law, in relation to exempting the metropolitan transportation authority from bond issuance charges PURPOSE: To exempt the MTA from bond issuance fees required under current law. JUSTIFICATION: Recent fare and toll increases are adversely impacting the budgets working men and women. This proposal will reduce the cost of doing business for the MTA, and in turn, reduce in part, the need for future increases in the near future. LEGISLATIVE HISTORY: New bill. FISCAL IMPLICATIONS: Savings to be determined. EFFECTIVE DATE: This act shall take effect immediately.
S6432 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6432 I N S E N A T E February 9, 2012 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to exempting the metropolitan 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. In December 2010, the Metropolitan Transportation Authority (MTA) increased fares and tolls 7.5 percent and the MTA is scheduled to increase fares and tolls again another 7.5 percent in both January 2013 and January 2015. In addition, the MTA has cut services that have adversely impacted mass transit riders. It is the intent of the legislature that the MTA 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 METROPOLITAN TRANSPORTATION 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 thirty-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. LBD14444-01-2
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