Assembly Bill A2550

2019-2020 Legislative Session

Exempts the Capital District transportation authority (CDTA) from bond issuance charges

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-A2550 (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:
A5725

2019-A2550 (ACTIVE) - Summary

Exempts the Capital District Transportation Authority from bond issuance charges.

2019-A2550 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2550
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2019
                                ___________
 
 Introduced  by  M. of A. FAHY -- 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
   Capital District 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 metropolitan area of the city  of
 New York has expanded, state support for regional transit in the greater
 Capital District area has not seen similar support. This lack of support
 has  adversely  impacted  mass  transit  riders  in  the greater Capital
 District region serviced by the Capital District transportation authori-
 ty (CDTA). It is the intent of the legislature that  the  CDTA  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 CAPITAL DISTRICT TRANSPORTATION AUTHOR-
 ITY  AND to recovery act bonds issued by the state of New York municipal
 bond bank agency in connection with local American  Recovery  and  Rein-
 vestment  Act pursuant to section two thousand four hundred thirty-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.
                                                            LBD01016-01-9

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