senate Bill S3377

2013-2014 Legislative Session

Provides TBTA shall transfer entire operating surplus to MTA which shall by resolution transfer a portion to NYCTA and retain a portion; repealer

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to transportation
Feb 01, 2013 referred to transportation

S3377 - Bill Details

Current Committee:
Senate Transportation
Law Section:
Public Authorities Law
Laws Affected:
Amd §§1219-a & 553-d, rpld §1219-a sub 3, Pub Auth L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S5279
2009-2010: A1855

S3377 - Bill Texts

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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.

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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.

Section 4: Effective date of bill.

JUSTIFICATION: Current law requires that the TBTA distribute its annual
operating surplus to NYCTA, for the benefit of the city's mass transit
system, and to the MTA, for the benefit of the commuter railroads. Prior
to 1972, the entire TBTA surplus was distributed to NYCTA. In 1972, the
Public Authorities Law was amended to provide that the first $24 million
go to NYCTA and the remaining portion be evenly divided between NYCTA
and the commuter railroads. Under this formula, a significant proportion
of the TBTA surplus was directed to NYCTA.

In 1981, the formula was revised to take into account (in dividing the
surplus) debt service incurred by TBTA for capital projects for the
benefit of NYCTA and the commuter railroads. As a result of the steady
increase in the TBTA surplus and the effects of inflation, NYCTA, which
received all the TBTA surplus prior to 1972, received barely half of the
surplus in 1996. In addition, because of the capital-intensive needs of
the City's subway and bus system, which must be financed through debt
service, a steadily decreasing level of the NYCTA share goes towards
operating assistance, in comparison with the commuter railroads, as a
result of the 1981 statutory change.

While reliable origin and destination data indicates that over two-
thirds of TBTA tolls are paid by city residents, the current statutory
formula provides for an inequitable distribution of the surplus revenues

that results in a shortfall for NYCTA of almost $86 million annually.
Over the years, since 1972, the cumulative amount of surplus revenues
that were not assigned to NYCTA totals over $850 million.

The MTA is the parent of both NYCTA and the commuter railroads. This
legislation would give the MTA Board flexibility to determine the
amount, timing and level of operating relief of each agency to provide
for a more equitable distribution of the surplus.

By giving the MTA Board the power to determine how the TBTA operating
surplus should be distributed, the Legislature will provide the MTA
Board with an important tool to enable it to fulfill its legislative
mandate of implementing a unified mass transportation policy for the
metropolitan region.

LEGISLATIVE HISTORY: 2011-2012: S.5279 - Referred to Transportation

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: Immediately.

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                    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

S. 3377                             2

  S  2. Subdivision 3 of section 1219-a of the public authorities law is
REPEALED.
  S  3.  Section  553-d  of  the  public  authorities law, as amended by
section 6 of part O of chapter 61 of the laws of  2000,  is  amended  to
read as follows:
  S  553-d. Special Triborough bridge and tunnel authority special obli-
gation bonds and notes. In addition to the powers contained elsewhere in
this title with respect to the projects authorized  by  paragraphs  (m),
(n),  (o),  (p)  and  (r)  of  subdivision  nine of section five hundred
fifty-three of this title, and subject to the application of the  reven-
ues  and  other  monies  and assets of the authority pursuant to section
twelve hundred seventy-d of this chapter, the authority  may  issue  its
bonds and notes to finance such projects payable from and secured by all
or  any  part of the moneys received by the authority from the metropol-
itan transportation authority special assistance fund established  under
section  twelve hundred seventy-a of this chapter, provided however that
such bonds and notes may also be payable from and secured by  any  other
moneys,  securities  and funds designated by the authority as additional
security therefor. [Debt service  on  bonds  and  notes  issued  by  the
authority  pursuant  to  this  section  which is paid or reimbursed from
moneys received by the authority from  the  metropolitan  transportation
authority special assistance fund shall not be deemed to constitute debt
service  incurred  by the authority for purposes of subdivision three of
section twelve hundred nineteen-a of this chapter.] Such bonds or  notes
shall be issued in the manner provided in section five hundred sixty-one
of this title.
  S 4. This act shall take effect immediately.

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