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Assembly Bill A5770

2017-2018 Legislative Session

Requires a certain amount of revenue collected from the Verrazano bridge tolls to match the SI railroad annual revenue prior and separate to any share in the MTA surplus

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Archive: Last Bill Status - In Assembly Committee

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2017-A5770 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Metropolitan Transportation Authority
Versions Introduced in Other Legislative Sessions:
2009-2010: A7320
2011-2012: A5783
2013-2014: A4538
2015-2016: A6171, A10333

2017-A5770 (ACTIVE) - Summary

Requires a certain amount of revenue collected from the Verrazano-Narrows bridge tolls to match the Staten Island rapid transit operating authority annual revenue prior and separate to any share in the MTA surplus to be transferred to both the SIRTOA and the Staten Island Ferry for improvements in and expansion of service.

2017-A5770 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5770
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 15, 2017
                                ___________
 
 Introduced by M. of A. CASTORINA, MONTESANO -- read once and referred to
   the Committee on Corporations, Authorities and Commissions
 
 AN  ACT to authorize the metropolitan transit authority to enter into an
   agreement to transfer certain  funds  of  the  triborough  bridge  and
   tunnel authority to the Staten Island rapid transit operating authori-
   ty and the Staten Island ferry for the purpose of service expansion
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. 1. Notwithstanding any laws, rules or  regulations  to  the
 contrary,  and  subject  to the rights of the holders of any outstanding
 bonds, notes or other obligations of the authorities,  the  metropolitan
 transit  authority  is  hereby  authorized and directed to enter into an
 agreement between the triborough bridge and tunnel authority, the Staten
 Island rapid transit operating authority and the commissioner of  trans-
 portation  of  the city of New York on behalf of the Staten Island ferry
 service. Such agreement shall consist of a transfer of revenues,  subsi-
 dies  and  other  monies  and  securities from the triborough bridge and
 tunnel authority to the Staten Island  ferry  service,  as  provided  in
 section  19-305  of  the administrative code of the city of New York and
 the Staten Island rapid transit operating authority.  Each shall receive
 a sum equal to the total amount  of  revenue  collected  from  ridership
 fares  by  the  Staten  Island rapid transit operations authority in the
 immediately preceding year. The Staten Island  rapid  transit  operating
 authority  and  the department of transportation of the city of New York
 shall keep such funds separate from all other such authority or  depart-
 ment  funds  and use such funds to expand and increase the efficiency of
 the existing railroad or ferry service in order to reduce motor  vehicle
 congestion on the Verrazano-Narrows bridge.
   2. Such agreement shall be executed within six months of the effective
 date of this act.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08297-01-7

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