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Assembly Bill A1899

2015-2016 Legislative Session

Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transportation authority

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Archive: Last Bill Status - In Assembly Committee

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2015-A1899 (ACTIVE) - Details

See Senate Version of this Bill:
S3351
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd ยง1219-a, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A7319
2011-2012: A5781, A10001, S4814
2013-2014: A3127, S3614
2017-2018: A3769, S6223
2019-2020: S2624
2021-2022: S4910
2023-2024: S4120
2025-2026: S5578

2015-A1899 (ACTIVE) - Summary

Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transit authority where previously the split was 50-50.

2015-A1899 (ACTIVE) - Bill Text download pdf 

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

                                  1899

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 13, 2015
                               ___________

Introduced by M. of A. BRENNAN, CUSICK -- Multi-Sponsored by -- M. of A.
  MALLIOTAKIS  --  read  once  and  referred  to the Committee on Corpo-
  rations, Authorities and Commissions

AN ACT to amend the public authorities law, in relation to  the  formula
  for New York city transit authority operating surplus revenue

  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 metropolitan
transportation  authority,  shall transfer 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  solely  for application to the payment of the
expenses of operation. For  purposes  of  determining  the  proportional
allocation  of  the  operating  surplus as between the authority and the
metropolitan  transportation  authority,  the  following  formula  shall
apply: (i) twenty-four million dollars plus [fifty] SEVENTY-FIVE percen-
tum  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 of the commuter railroads operated by
it,  by  its  subsidiary  corporations or by others under joint arrange-
ments.
  S 2. This act shall take effect on the sixtieth  day  after  it  shall
have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01239-01-5

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