senate Bill S5049A

2019-2020 Legislative Session

Enacts the statewide transportation authority reinvestment (STAR) act of 2020

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 21, 2020 reported and committed to finance
Jan 08, 2020 print number 5049a
Jan 08, 2020 amend and recommit to corporations, authorities and commissions
referred to corporations, authorities and commissions
returned to senate
died in assembly
May 30, 2019 referred to corporations, authorities and commissions
delivered to assembly
passed senate
May 20, 2019 advanced to third reading
May 15, 2019 2nd report cal.
May 14, 2019 1st report cal.735
May 06, 2019 reported and committed to finance
Apr 04, 2019 referred to corporations, authorities and commissions

Votes

view votes

Jan 21, 2020 - Corporations, Authorities and Commissions committee Vote

S5049A
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: Jan 21, 2020

May 14, 2019 - Finance committee Vote

S5049
19
0
committee
19
Aye
0
Nay
3
Aye with Reservations
1
Absent
0
Excused
0
Abstained
show committee vote details

May 6, 2019 - Corporations, Authorities and Commissions committee Vote

S5049
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 6, 2019

S5049 - Details

Current Committee:
Senate Finance
Law Section:
Public Authorities Law
Laws Affected:
Amd §§2 & 2976, Pub Auth L
Versions Introduced in 2021-2022 Legislative Session:
S3435

S5049 - Summary

Enacts the statewide transportation authority reinvestment (STAR) act of 2020; exempts mass transit authorities from bond issuance charges.

S5049 - Sponsor Memo

S5049 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5049

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              April 4, 2019
                               ___________

Introduced  by  Sen.  COMRIE -- 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
  mass transit authorities from bond issuance charges

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "statewide  transportation  authority  reinvestment  (STAR)  act  of
2019".
  §  2.  Legislative  intent.  The  public authorities that provide mass
transit service in the areas of  New  York  City,  Long  Island,  Hudson
Valley, Buffalo, Rochester, Albany, Syracuse and their suburbs are given
the  power to issue debt, which they can use to fund capital projects or
operations. However, state law requires these  authorities  to  pay  the
state  a  fee  each  time  they issue bonds, totaling up to almost 1% of
bonds issued depending on the amount of the  issuance.  The  legislature
finds that in a time when these authorities face increasing fiscal chal-
lenges,  the  fees  these  authorities must pay to the state rob them of
resources to maintain reliable, attractive bus and rail service which is
an inherent public good. It is the intent of the legislature to  relieve
transportation  authorities  of the burden of acting as a revenue source
for the state when they invest in their operations and  capital  infras-
tructure,  and  that  these  authorities  use  the  savings accrued from
exemptions from this fee to maintain service levels and prevent  service
cuts, or for transformative capital projects.
  §  3.  Section  2 of the public authorities law is amended by adding a
new subdivision 7 to read as follows:
  7. "MASS TRANSIT AUTHORITY" SHALL MEAN THE METROPOLITAN TRANSPORTATION
AUTHORITY, NEW YORK CITY TRANSIT AUTHORITY, TRIBOROUGH BRIDGE AND TUNNEL
AUTHORITY, CAPITAL DISTRICT TRANSPORTATION AUTHORITY, CENTRAL  NEW  YORK

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

Co-Sponsors

S5049A (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Public Authorities Law
Laws Affected:
Amd §§2 & 2976, Pub Auth L
Versions Introduced in 2021-2022 Legislative Session:
S3435

S5049A (ACTIVE) - Summary

Enacts the statewide transportation authority reinvestment (STAR) act of 2020; exempts mass transit authorities from bond issuance charges.

S5049A (ACTIVE) - Sponsor Memo

S5049A (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5049--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              April 4, 2019
                               ___________

Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and  Commissions  --  recommitted  to  the  Committee on Corporations,
  Authorities and Commissions in accordance with Senate Rule 6,  sec.  8
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to amend the public authorities law,  in  relation  to  exempting
  mass transit authorities from bond issuance charges

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title. This act shall be known and may  be  cited  as
the  "statewide  transportation  authority  reinvestment  (STAR)  act of
2020".
  § 2. Legislative intent. The  public  authorities  that  provide  mass
transit  service  in  the  areas  of  New York City, Long Island, Hudson
Valley, Buffalo, Rochester, Albany, Syracuse and their suburbs are given
the power to issue debt, which they can use to fund capital projects  or
operations.  However,  state  law  requires these authorities to pay the
state a fee each time they issue bonds, totaling  up  to  almost  1%  of
bonds  issued  depending  on the amount of the issuance. The legislature
finds that in a time when these authorities face increasing fiscal chal-
lenges, the fees these authorities must pay to the  state  rob  them  of
resources to maintain reliable, attractive bus and rail service which is
an  inherent public good. It is the intent of the legislature to relieve
transportation authorities of the burden of acting as a  revenue  source
for  the  state when they invest in their operations and capital infras-
tructure, and that  these  authorities  use  the  savings  accrued  from
exemptions  from this fee to maintain service levels and prevent service
cuts, or for transformative capital projects.
  § 3. Section 2 of the public authorities law is amended  by  adding  a
new subdivision 7 to read as follows:

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

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.