|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to transportation|
|Feb 01, 2013||referred to transportation|
senate Bill S3377
Archive: Last Bill Status -
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3377 - Details
S3377 - 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.
S3377 - Sponsor Memo
BILL NUMBER:S3377 TITLE OF BILL: An act to amend the public authorities law, in relation to the allocation of the triborough bridge and tunnel authority operat- ing surplus and to repeal certain provisions of such law relating there- to PURPOSE OF BILL: To allow the metropolitan transportation authority board to distribute the TBTA surplus as it deems appropriate. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Amends section 1219-a(2) (b) of the Public Authorities Law to direct the Triborough Bridge and Tunnel Authority (the "TBTA") to trans- fer its operating surplus to the Metropolitan Transportation Authority ("MTA"), which would then determine the appropriate distribution of the surplus between the New York city Transit Authority ("NYCTA") and the MTA's commuter railroads. Section 2: Repeals section 1219-a(3) of the Public Authorities Law, which establishes the current formula for calculating the shares of operating surplus to be distributed. Section 3: Amends section 553-d of the Public Authorities Law to create special obligations bonds and notes for TBTA.
S3377 - 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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