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Assembly Bill A2923

2013-2014 Legislative Session

Relates to the ownership status of transit facilities

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Archive: Last Bill Status - In Assembly Committee

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2013-A2923 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยงยง1203 & 1203-a, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A1337
2011-2012: A2960
2015-2016: A3987

2013-A2923 (ACTIVE) - Summary

Directs, upon conveyance of certain transit facilities, that the New York city transit authority shall be deemed the sole owner of such facilities with respect to all obligations and liabilities imposed by law on property owners.

2013-A2923 (ACTIVE) - Bill Text download pdf 

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

                                  2923

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 22, 2013
                               ___________

Introduced by M. of A. WRIGHT -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN ACT to amend the public authorities law, in relation to the ownership
  status of transit facilities

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

  Section 1. Section 1203 of the public authorities law  is  amended  by
adding a new subdivision 8 to read as follows:
  8.  NOTWITHSTANDING ANY OTHER PROVISION OF LAW, UPON THE CONVEYANCE OF
THE TRANSIT FACILITIES IN ACCORDANCE WITH THIS SECTION, WHETHER BY DEED,
LEASE, LICENSE OR OTHER ARRANGEMENT, THE AUTHORITY SHALL BE  DEEMED  THE
SOLE  OWNER  OF  SUCH  FACILITIES  WITH  RESPECT  TO ALL OBLIGATIONS AND
LIABILITIES IMPOSED BY LAW ON PROPERTY OWNERS.
  S 2. Section 1203-a of the public authorities law is amended by adding
a new subdivision 12 to read as follows:
  12. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, UPON THE CONVEYANCE OF
ANY OMNIBUS LINE ACQUIRED BY THE CITY TO THE SUBSIDIARY  CORPORATION  IN
ACCORDANCE WITH THIS SECTION, THE SUBSIDIARY CORPORATION SHALL BE DEEMED
THE  SOLE  OWNER  OF SUCH FACILITIES WITH RESPECT TO ALL OBLIGATIONS AND
LIABILITIES IMPOSED BY LAW ON PROPERTY OWNERS.
  S 3. This act shall take effect immediately and  shall  apply  to  all
matters arising on or after such effective date and to all matters pend-
ing on such effective date.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00743-01-3

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