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Senate Bill S3093

2019-2020 Legislative Session

Relates to exempting the Niagara frontier transit authority (NFTA) from bond issuance charges

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Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

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2019-S3093 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2976, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2013-2014: S6890
2015-2016: S3328
2017-2018: S3145

2019-S3093 (ACTIVE) - Summary

Relates to exempting the Niagara Frontier Transit Authority from bond issuance charges.

2019-S3093 (ACTIVE) - Sponsor Memo

2019-S3093 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3093
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sens. RANZENHOFER, GALLIVAN, KENNEDY, ORTT -- read twice
   and ordered printed, and when printed to be committed to the Committee
   on Corporations, Authorities and Commissions
 
 AN ACT to amend the public authorities law, in relation to exempting the
   Niagara frontier 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 greater Buffalo
 Niagara Falls area has not seen similar support. This  lack  of  support
 has  adversely  impacted  mass  transit  riders  in  the greater Buffalo
 Niagara region  serviced  by  the  Niagara  frontier  transit  authority
 (NFTA).  It  is  the  intent  of  the  legislature that the NFTA 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 NIAGARA FRONTIER 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.
                                                            LBD01621-01-9

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