BILL NUMBER:S740

TITLE OF BILL:
An act
to amend the transportation law, the executive law
and the public authorities law,
in
relation to authorizing innovative infrastructure development

PURPOSE:
To provide flexibility to state agencies in the development
of transportation infrastructure projects.

SUMMARY OF PROVISIONS:
Section one adds a new article to the Transportation Law to provide the
Department of Transportation greater flexibility in delivery and
financing of transportation infrastructure projects.

Section two amends the Executive Law to create an Innovative
Infrastructure Development Board (board) to oversee the development of
transportation infrastructure projects.

Section three amends the public authorities law to provide the
Metropolitan Transit Authority (MTA) greater flexibility in delivery
and financing of transportation infrastructure projects.

              

Section four amends the public authorities law to provide the Bridge
Authority greater flexibility in delivery and financing of
transportation infrastructure projects.

JUSTIFICATION:
New York State's transportation infrastructure is at crossroads. The
New York State Department of Transportation (DOT) has estimated that,
excluding the New York State Thruway Authority, the New York State
Bridge Authority and the Metropolitan Transportation Authority, the
State would need to invest $175 billion over twenty years to bring the
system to a state of good repair.

This legislation proposes to provide the State's principal
transportation agencies increased flexibility in contracting for and
financing of transportation infrastructure projects. In so doing,
this bill allows a far broader array of arrangements with the private
sector than are currently available under law. Through a more agile
project delivery process, the state will be able to better utilize
economies of scale, life-cycle efficiencies, allocation of risk and
other factors in order to generate long and short-terms savings for
the state; savings which can be re-invested in New York's deficient
infrastructure.

To protect public monies and assets, this legislation creates the
Innovative Infrastructure Development Board. In its oversight role,

the board is the responsible for assuring that in every step along
the way in project development, the state gets the best value for its
dollar. In its development role, the board is tasked with maximizing
the efficiency of the state's transportation infrastructure while at
all times protecting the state's interest in those vital assets and
assuring that the highest standards of service are maintained.

With current funding streams woefully inadequate to address the
state's current and future transportation infrastructure funding
needs, new and innovative solutions are necessary to assure that
people and goods can continue to move throughout the state and
continue to energize New York's economy.

LEGISLATIVE HISTORY:
2011-12: Finance Committee (S.5445/A.8487)

FISCAL IMPLICATIONS:
This bill is intended to create both long and short-term cost savings
to the state.

EFFECTIVE DATE:
Immediate.