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Assembly Bill A1850

2019-2020 Legislative Session

Relates to exempting the central New York regional transportation authority (CNYRTA) from bond issuance charges

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Archive: Last Bill Status - In Assembly Committee

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2019-A1850 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2976, Pub Auth L
Versions Introduced in 2017-2018 Legislative Session:
A5256

2019-A1850 (ACTIVE) - Summary

Relates to exempting the central New York regional transportation authority (CNYRTA) from bond issuance charges.

2019-A1850 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1850
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2019
                                ___________
 
 Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred to the
   Committee on Corporations, Authorities and Commissions
 
 AN ACT to amend the public authorities law, in relation to exempting the
   central New York regional transportation authority from bond  issuance
   charges

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Legislative intent. Over  the  past  several  years,  while
 support  of  mass transit in the greater New York City metropolitan area
 has expanded, state support for regional transit in the central New York
 (CNYRTA) area has not seen similar support. This  lack  of  support  has
 adversely  impacted  mass  transit riders in the central New York region
 serviced by the  central  New  York  regional  transportation  authority
 (CNYRTA).  It  is  the intent of the legislature that the CNYRTA use the
 savings that accrue from this act for maintenance and operations and  to
 ensure that mass transit riders do not face any further service cuts.
   §  2.  Subdivision 4 of section 2976 of the public authorities law, as
 added by section 12 of part E of chapter 494 of the  laws  of  2009,  is
 amended to read as follows:
   4.  The  provisions  of subdivisions one and two of this section shall
 not apply TO BONDS ISSUED BY THE CENTRAL NEW YORK  REGIONAL  TRANSPORTA-
 TION AUTHORITY AND to recovery act bonds issued by the state of New York
 municipal  bond  bank  agency in connection with local American Recovery
 and Reinvestment Act pursuant to section two thousand four hundred thir-
 ty-six-b of this chapter.
   § 3. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00121-01-9

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