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Assembly Bill A7227

2017-2018 Legislative Session

Authorizes the metropolitan transportation authority to enter into an agreement to transfer certain funds of the metropolitan transportation authority to the metropolitan suburban bus authority; repealer

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Archive: Last Bill Status - In Assembly Committee

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2017-A7227 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Metropolitan Transportation Authority

2017-A7227 (ACTIVE) - Summary

Authorizes the metropolitan transportation authority to enter into an agreement to transfer certain funds of the metropolitan transportation authority to the metropolitan suburban bus authority (the Nassau Inter County Express (NICE) Bus) from revenues derived from revenues received by the MTA pursuant to article 23 of the tax law from employers located in the counties of Nassau, Queens and Suffolk.

2017-A7227 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7227
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 12, 2017
                                ___________
 
 Introduced  by M. of A. HOOPER, LAVINE, D'URSO -- read once and referred
   to the Committee on Corporations, Authorities and Commissions
 
 AN ACT to authorize the metropolitan transportation authority  to  enter
   into an agreement to transfer certain funds of the metropolitan trans-
   portation  authority  to  the metropolitan suburban bus authority; and
   providing for the repeal of such provisions upon expiration thereof
 
   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
 transportation authority is hereby authorized and directed to enter into
 an agreement with the metropolitan suburban bus authority (Nassau  Inter
 County  Express  (NICE) Bus). Such agreement shall consist of a transfer
 of revenues, subsidies and other monies and securities received  by  the
 metropolitan  transportation authority pursuant to article 23 of the tax
 law from employers  located  in  the  counties  of  Nassau,  Queens  and
 Suffolk. Such agreement shall annually be not less than $12,000,000.
   2. Such agreement shall be executed within six months of the effective
 date of this act.
   ยง  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed December 31, 2022.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07434-02-7

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