S T A T E   O F   N E W   Y O R K
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                                 8204--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 11, 2015
                               ___________

Introduced  by  M. of A. FAHY -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the state finance law, in relation  to  the  funding  of
  public  transit  systems; and to repeal paragraph (c) of subdivision 5
  of section 88-a of the state finance law relating thereto

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

  Section 1. Paragraph (c) of subdivision 5 of section 88-a of the state
finance  law is REPEALED and two new paragraphs (c) and (d) are added to
read as follows:
  (C) NOTWITHSTANDING ANY LAW TO THE CONTRARY, THE COMPTROLLER IS HEREBY
AUTHORIZED AND DIRECTED TO TRANSFER FROM THE GENERAL  FUND  FOR  DEPOSIT
INTO  THE  PUBLIC TRANSPORTATION SYSTEM OPERATING ASSISTANCE ACCOUNT, ON
OR BEFORE MARCH THIRTY-FIRST OF  EACH  YEAR,  AN  AMOUNT  EQUAL  TO  THE
FOLLOWING:
  (I)  FOR THE STATE FISCAL YEAR ENDING MARCH THIRTY-FIRST, TWO THOUSAND
SEVENTEEN, FIFTEEN MILLION DOLLARS;
  (II) IN EACH SUCCEEDING STATE FISCAL YEAR, THE  TRANSFER  SHALL  EQUAL
THE  PRODUCT  OF TWO HUNDRED FIVE MILLION SIX HUNDRED FIFTY-TWO THOUSAND
ONE HUNDRED DOLLARS AND ONE PLUS THE GROWTH FACTOR. FOR THE PURPOSES  OF
THIS SUBPARAGRAPH, THE GROWTH FACTOR IS THE PERCENTAGE, IF ANY, BY WHICH
THE  AGGREGATE  AMOUNT  OF  REVENUE  DEPOSITED  IN THE METROPOLITAN MASS
TRANSPORTATION OPERATING ASSISTANCE ACCOUNT FOR THE TWELVE MONTH  PERIOD
ENDING  ON  DECEMBER  THIRTY-FIRST OF THE IMMEDIATELY PRECEDING CALENDAR
YEAR EXCEEDS THE AGGREGATE AMOUNT OF REVENUE DEPOSITED IN THE  METROPOL-
ITAN  MASS  TRANSPORTATION  OPERATING  ASSISTANCE ACCOUNT FOR THE TWELVE
MONTH PERIOD ENDING ON DECEMBER THIRTY-FIRST, TWO THOUSAND FOURTEEN.  IN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11540-05-6

              

A. 8204--A                          2

NO  YEAR WILL THE AMOUNT OF THE DEPOSIT AUTHORIZED UNDER THIS SECTION BE
LESS THAN THE AMOUNT MADE IN THE PRIOR YEAR.
  (D)  ANY FINANCIAL SETTLEMENT FUNDS COLLECTED BY THE STATE ON OR AFTER
APRIL FIRST, TWO THOUSAND SIXTEEN SHALL BE DEDICATED TO NEW  YORK  STATE
UPSTATE AND DOWNSTATE TRANSIT SYSTEMS, AS FOLLOWS:
  (I)  TWO-THIRDS  OF SUCH FINANCIAL SETTLEMENT FUNDS SHALL BE ALLOCATED
TO THE METROPOLITAN TRANSPORTATION AUTHORITY; AND
  (II) ONE-THIRD OF SUCH FINANCIAL SETTLEMENT FUNDS SHALL  BE  ALLOCATED
FOR  UPSTATE  TRANSIT,  ROADS AND BRIDGES AND DOWNSTATE NON-METROPOLITAN
TRANSPORTATION AUTHORITY TRANSIT SYSTEMS.
  S 2. This act shall take effect immediately.