S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9225
 
                           I N  A S S E M B L Y
 
                             February 16, 2024
                                ___________
 
 Introduced  by M. of A. BRONSON -- read once and referred to the Commit-
   tee on Economic Development
 
 AN ACT to amend the economic development law and the state finance  law,
   in relation to establishing a public transportation expansion fund
 
   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 "public transportation expansion fund act".
   §  2.  The economic development law is amended by adding a new section
 233 to read as follows:
   § 233. PUBLIC TRANSPORTATION AND INFRASTRUCTURE. 1. THE  COMMISSIONER,
 IN  CONJUNCTION  WITH  THE COMMISSIONER OF TRANSPORTATION, SHALL DEVELOP
 AND JOINTLY ADMINISTER THE  PUBLIC  TRANSPORTATION  EXPANSION  FUND,  AS
 ESTABLISHED PURSUANT TO SECTION EIGHTY-EIGHT-E OF THE STATE FINANCE LAW,
 FOR THE PURPOSE OF ENSURING ACCESS TO PUBLIC TRANSPORTATION FOR PUBLICLY
 FUNDED ECONOMIC DEVELOPMENT PROJECTS.
   2.  ELIGIBILITY SHALL BE LIMITED TO TRANSPORTATION AUTHORITIES IN EACH
 ECONOMIC DEVELOPMENT REGION INCORPORATED UNDER TITLES  ELEVEN-A  THROUGH
 ELEVEN-D, INCLUSIVE OF ARTICLE FIVE OF THE PUBLIC AUTHORITIES LAW.
   3.  EACH  TRANSPORTATION  AUTHORITY  SHALL  BE ELIGIBLE FOR UP TO FIVE
 MILLION DOLLARS PER FISCAL YEAR FOR THE  PURPOSES  OF  ESTABLISHING  NEW
 TRANSIT SERVICE TO ECONOMIC DEVELOPMENT PROJECTS, INCLUDING IMPROVEMENTS
 TO AUTHORITY, TRANSPORTATION, AND OMNIBUS FACILITIES, PURCHASE OF EQUIP-
 MENT,  PURCHASE  OF  REAL  PROPERTY,  AND  OTHER  CAPITAL  AND OPERATING
 EXPENSES AS JOINTLY DEFINED BY THE DEPARTMENT OF TRANSPORTATION AND  THE
 NEW  YORK  STATE URBAN DEVELOPMENT CORPORATION, SUBJECT TO ANNUAL APPRO-
 PRIATIONS AND OTHER  FUNDING  AUTHORIZED  OR  MADE  AVAILABLE  FOR  SUCH
 PURPOSES.
   4.  AS  USED  IN  THIS  SECTION, "PUBLICLY FUNDED ECONOMIC DEVELOPMENT
 PROJECT" MEANS A PROJECT RECEIVING FUNDING, TAX CREDITS,  OR  INCENTIVES
 THROUGH  THE URBAN DEVELOPMENT CORPORATION, FEDERAL ECONOMIC DEVELOPMENT
 ADMINISTRATION, THE UNITED  STATES  DEPARTMENT  OF  COMMERCE,  MUNICIPAL
 INDUSTRIAL  DEVELOPMENT  AGENCIES, OR ANY OTHER POLITICAL SUBDIVISION OF
 MUNICIPAL, STATE, OR FEDERAL GOVERNMENT.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14412-01-4
 A. 9225                             2
 
   5. THE COMMISSIONER, IN CONJUNCTION WITH THE COMMISSIONER OF TRANSPOR-
 TATION, SHALL PROMULGATE RULES AND REGULATIONS NECESSARY FOR THE  IMPLE-
 MENTATION OF THIS SECTION.
   §  3. The state finance law is amended by adding a new section 88-e to
 read as follows:
   § 88-E. PUBLIC TRANSPORTATION  EXPANSION  FUND.  1.  THERE  IS  HEREBY
 ESTABLISHED  IN  THE  JOINT  CUSTODY OF THE COMMISSIONER OF TAXATION AND
 FINANCE AND THE STATE COMPTROLLER A SPECIAL FUND  TO  BE  KNOWN  AS  THE
 "PUBLIC TRANSPORTATION EXPANSION FUND".
   2.  THE  PUBLIC  TRANSPORTATION  EXPANSION  FUND  SHALL CONSIST OF ALL
 MONEYS APPROPRIATED THERETO FROM ANY OTHER FUND OR  SOURCE  PURSUANT  TO
 LAW.    NOTHING  CONTAINED  IN THIS SECTION SHALL PREVENT THE STATE FROM
 RECEIVING GRANTS, GIFTS OR BEQUESTS FOR THE  PURPOSES  OF  THE  FUND  AS
 DEFINED  IN  THIS SECTION AND DEPOSITING THEM INTO THE FUND ACCORDING TO
 LAW.
   3. MONEYS WITHIN THE PUBLIC TRANSPORTATION  EXPANSION  FUND  SHALL  BE
 MADE  AVAILABLE  TO  THE  COMMISSIONER  OF  ECONOMIC DEVELOPMENT AND THE
 COMMISSIONER OF TRANSPORTATION FOR THE PURPOSE  OF  ENSURING  ACCESS  TO
 PUBLIC  TRANSPORTATION FOR PUBLICLY FUNDED ECONOMIC DEVELOPMENT PROJECTS
 PURSUANT TO THE PROVISIONS OF SECTION TWO HUNDRED  THIRTY-THREE  OF  THE
 ECONOMIC DEVELOPMENT LAW.
   § 4. This act shall take effect immediately.