NY State Senate Bill 2025-S4203A

Current Bill Status - In Senate Committee Local Government 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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Actions

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 15, 2026	print number 4203a
May 15, 2026	amend (t) and recommit to local government
Jan 07, 2026	referred to local government
Feb 03, 2025	referred to local government

Bill Amendments

Original

A (Active)

2025-S4203 - Details

Current Committee:: Senate Local Government
Law Section:: General Municipal Law
Laws Affected:: Amd §119-r, Gen Muni L; amd Part PP §3, Chap 54 of 2016
Versions Introduced in 2023-2024 Legislative Session:: S4417

2025-S4203 - Summary

Updates value capture mechanisms for NYC and the MTA, including transparency requirements; extends such provisions of law until April 1, 2031.

2025-S4203 - Sponsor Memo

                                 
BILL NUMBER: S4203

SPONSOR: COMRIE
 
TITLE OF BILL:

An act to amend the general municipal law, in relation to adjusting
value capture mechanisms for New York city and the metropolitan trans-
portation authority, including transparency requirements; and to amend
part PP of chapter 54 of the laws of 2016, amending the general munici-
pal law relating to the New York transit authority and the metropolitan
transportation authority, in relation to making such value capture mech-
anisms and transparency requirements permanent

 
PURPOSE:

To enable the MTA and NYC to engage in a value capture process indefi-
nitely that entails accountability measures, and to prioritize mech-
anisms that involve the capture of new revenue generated.

 
SUMMARY OF SPECIFIC PROVISIONS:

Transit projects create value to surrounding areas, increasing nearby

property values by 30 to 40 percent, and up to 150 percent under ideal
conditions, according to the Federal Transit Administration.  The Ameri-
can Public Transit Association meanwhile estimates that every $1 spent
on transit generates $5 in economic activity.

Value capture comprises "the public recovery of a portion of increased
property and other value created as a result of public infrastructure
investment" (Transit Cooperative Research Project). Existing state law
GM 119-r authorizes cities, towns, villages and counties to adopt local
laws to authorize value capture with public transit authorities, includ-
ing with the Metropolitan Transportation Authority (MTA), in recognition
of the increase in property and land value that transportation projects
often bring to local areas. This existing law is set to sunset in 2023.

This bill amends GM 119-r to make the option of a value capture process
between New York City and the MTA permanent. The bill simultaneously
adds new accountability measures to ensure 1) proper due diligence and
transparency in establishing the increased value to surrounding areas by
any MTA project, and 2) that this process is open to the public. Final-
ly, the legislation removes the explicit mention of tax increment
financing (TIF) as a means for value capture, recognizing widespread
concerns that TIFs can extract much-needed city tax revenues and need-
lessly increase debt service and risk.

 
JUSTIFICATION:

Transit projects create value to surrounding areas, increasing nearby
property values by 30 to 40 percent, and up to 150 percent under ideal
conditions, according to the Federal Transit Administration.  The Ameri-
can Public Transit Association meanwhile estimates that every $1 spent
on transit generates $5 in economic activity.

Value capture comprises "the public recovery of a portion of increased
property and other value created as a result of public infrastructure
investment" (Transit Cooperative Research Project). Existing state law
GM 119-r authorizes cities, towns, villages and counties to adopt local
laws to authorize value capture with public transit authorities, includ-
ing with the Metropolitan Transportation Authority (MTA), in recognition
of the increase in property and land value that transportation projects
often bring to local areas. This existing law is set to sunset in 2023.

This bill amends GM 119-r to make the option of a value capture process
between New York City and the MTA permanent. The bill simultaneously
adds new accountability measures to ensure 1) proper due diligence and
transparency in establishing the increased value to surrounding areas by
any MTA project, and 2) that this process is open to the public. Final-
ly, the legislation removes the explicit mention of tax increment
financing (TIF) as a means for value capture, recognizing widespread
concerns that TIFs can extract much-needed city tax revenues and need-
lessly increase debt service and risk.

 
PRIOR LEGISLATIVE HISTORY:

2024: S4417 Comrie/ A5018 Mamdani

 
FISCAL IMPLICATIONS:

Anticipated fiscal benefit to the State. Fiscal implication to local
government dependent on scale and nature of value capture mechanisms
agreed to between the City and MTA.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2025-S4203 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4203
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2025
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the general municipal  law,  in  relation  to  adjusting
   value capture mechanisms for New York city and the metropolitan trans-
   portation authority, including transparency requirements; and to amend
   part PP of chapter 54 of the laws of 2016, amending the general munic-
   ipal  law relating to the New York transit authority and the metropol-
   itan transportation  authority,  in  relation  to  making  such  value
   capture mechanisms and transparency requirements permanent
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph f of subdivision 1 of section 119-r of the gener-
 al municipal law, as added by section 2 of part PP of chapter 54 of  the
 laws of 2016, is amended to read as follows:
   f.  The  making  of  a  contract  with the metropolitan transportation
 authority, by itself or with one or more other municipal corporations to
 assist the authority in meeting its capital  or  operating  expenses  in
 providing mass transportation services of benefit to all or part of such
 municipal corporation, including undertaking a mass transportation capi-
 tal  project  in  or  near  the  municipal corporation. Such a municipal
 corporation may, according to the terms of the contract with the author-
 ity, establish, levy and collect taxes, assessments, and/or charges  and
 may  conditionally  or  unconditionally grant or pledge a portion of its
 revenues allocated according to subdivision  e  of  this  section.  Such
 municipal  corporation may designate mass transportation capital project
 districts that a municipal corporation finds, after conducting a  public
 hearing,  will  benefit  from  an identified mass transportation capital
 project.
   (I) (1) AT LEAST TWO WEEKS PRIOR TO  CONDUCTING  SUCH  PUBLIC  HEARING
 UNDER  THIS  SUBDIVISION,  THE  MUNICIPAL  CORPORATION SHALL PRODUCE AND
 PUBLISH ON ITS WEBSITE TWO SEPARATE ANALYSES THAT INCLUDE:  (A)  REVENUE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00218-01-5

 S. 4203                             2
 
 PROJECTIONS  FOR  THE  DISTRICT  BASED ON HISTORIC PROPERTY TAX DATA AND
 ANALYSIS THAT THE FAIR MARKET VALUE OF PROPERTIES WITHIN THE SUBDISTRICT
 IS EXPECTED TO INCREASE AS A RESULT OF THE  IMPROVEMENT,  BY  MORE  THAN
 WOULD  HAVE  OCCURRED IN THE ABSENCE OF SUCH IMPROVEMENT; AND (B) TRANS-
 PORTATION ENGINEERING ANALYSIS SHOWING HOW THE PUBLIC WOULD BE SERVED BY
 THE MASS TRANSPORTATION CAPITAL PROJECT IN SUCH DISTRICT OR AREA.
   (2) SUCH ANALYSES UNDER CLAUSE ONE OF THIS SUBPARAGRAPH SHALL  INCLUDE
 ACCOMPANYING DATA IN A MACHINE-READABLE, TABULAR FORMAT, AND AN EXPLANA-
 TION  OF THE METHODOLOGY AND SPECIFIC ASSUMPTIONS USED IN EACH ANALYSIS.
 THE PUBLIC SHALL HAVE THE OPPORTUNITY TO SUBMIT WRITTEN COMMENTS ON SUCH
 ANALYSES PROVIDED, AND THE MUNICIPAL CORPORATION AND/OR THE METROPOLITAN
 TRANSPORTATION AUTHORITY SHALL RESPOND TO  PUBLIC  COMMENT  RECEIVED  IN
 WRITING  AND  AT  SUCH  PUBLIC HEARING IN A REPORT THAT IS POSTED IN THE
 MUNICIPAL CORPORATION'S WEBSITE NO LATER THAN ONE MONTH AFTER SUCH HEAR-
 ING.
   (II) Upon designating [such] a  MASS  TRANSPORTATION  CAPITAL  PROJECT
 district, the municipal corporation may allocate a portion of its reven-
 ues  from the district according to terms it designs or has agreed to by
 contract. The municipal corporation may, in  allocating  and  collecting
 revenues  from  the district, make use of one or more methods to capture
 the value created by a mass transportation capital  project,  including,
 but not limited to:
   [(i)  tax  increment financing, meaning the allocation of an increment
 of property tax revenues in excess of the  amount  levied  at  the  time
 prior to planning of a mass transportation capital project;
   (ii)]  (1)  a special transportation assessment imposed upon benefited
 real property in proportion to the benefit  received  by  such  property
 from a mass transportation capital project, which shall not constitute a
 tax;
   [(iii)]  (2)  land value taxation, meaning the allocation of an incre-
 ment of tax revenues gained from levying taxes on the assessed value  of
 taxable  land  at  a  higher  rate  than the improvements, as defined in
 subdivision twelve of section one hundred two of the real  property  tax
 law; and
   [(iv)]  (3)  some combination of the above or other methods of gaining
 revenues that the municipal corporation is empowered  to  use,  provided
 that the total amount of all taxes, assessments, fees, charges, or rates
 levied  on  each  parcel or lot under this section shall be limited to a
 proportionate amount as near as possible to  the  actual  benefit  which
 each  lot  or  parcel  will  derive from the mass transportation capital
 project; and
   [(v)] (4) for purposes of this paragraph  the  term  municipal  corpo-
 ration  shall  include  only  those cities, towns, villages and counties
 described in section twelve hundred sixty-two of the public  authorities
 law.
   §  2. Section 3 of part PP of chapter 54 of the laws of 2016, amending
 the general municipal law relating to the New York transit authority and
 the metropolitan transportation authority, as amended by  section  1  of
 part A of chapter 58 of the laws of 2024, is amended to read as follows:
   § 3. This act shall take effect immediately[; provided that the amend-
 ments  to  subdivision  1  of section 119-r of the general municipal law
 made by section two of this act shall  expire  and  be  deemed  repealed
 April  1,  2025,  and provided further that such repeal shall not affect
 the validity or duration of any contract entered into before  that  date
 pursuant to paragraph f of such subdivision].
   § 3. This act shall take effect immediately.

2025-S4203A (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: General Municipal Law
Laws Affected:: Amd §119-r, Gen Muni L; amd Part PP §3, Chap 54 of 2016
Versions Introduced in 2023-2024 Legislative Session:: S4417

2025-S4203A (ACTIVE) - Summary

Updates value capture mechanisms for NYC and the MTA, including transparency requirements; extends such provisions of law until April 1, 2031.

2025-S4203A (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S4203A

SPONSOR: COMRIE
 
TITLE OF BILL:

An act to amend the general municipal law, in relation to adjusting
value capture mechanisms for New York city and the metropolitan trans-
portation authority, including transparency requirements; and to amend
part PP of chapter 54 of the laws of 2016 amending the general municipal
law relating to the New York transit authority and the metropolitan
transportation authority, in relation to extending such value capture
mechanisms and transparency requirements


 
PURPOSE:

To enable the MTA and NYC to engage in a value capture process indefi-
nitely that entails accountability measures, and to prioritize mech-
anisms that involve the capture of new revenue generated.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one of the bill amends paragraph f of subdivision 1 of section
119-r of the general municipal law to require that, for any proposed
mass transportation capital project located in the City of New York, the
relevant municipal corporation or the Metropolitan Transportation
Authority provide written notice to affected community boards and
elected representatives at least forty-five days prior to the required
public hearing.

The bill further requires that, upon request, municipal corporations or
the authority present information regarding the proposed project to
affected community boards and allow for public comment.

The legislation additionally requires that, at least forty-five days
before a public hearing on a proposed mass transportation capital
project district, the municipal corporation publish two comprehensive
analyses on its website. These analyses must include, among other
things: Revenue projections based on historic and projected tax and
economic activity data; Transportation engineering analyses demonstrat-
ing public benefit; Explanations of projected assessments or increased
levies; Projected project costs and funding sources; Analysis of impacts
on land values and local tax levies; and Disclosure of public incen-
tives, subsidies, tax abatements, or other economic development assist-
ance associated with the project.

The bill also requires accompanying machine-readable data, explanations
of methodologies and assumptions, opportunities for written public
comment, and written responses from the municipal corporation and/or the
Metropolitan Transportation Authority following the public hearing.

Section two extends the expiration date of the authority established
under section 119-r from April 1, 2026 to April 1, 2031.

 
JUSTIFICATION:

Transit projects create value to surrounding areas, increasing nearby
property values by 30 to 40 percent, and up to 150 percent under ideal
conditions, according to the Federal Transit Administration.  The Ameri-
can Public Transit Association meanwhile estimates that every $1 spent
on transit generates $5 in economic activity.

Value capture comprises "the public recovery of a portion of increased
property and other value created as a result of public infrastructure
investment" (Transit Cooperative Research Project). Existing state law
GM 119-r authorizes cities, towns, villages and counties to adopt local
laws to authorize value capture with public transit authorities, includ-
ing with the Metropolitan Transportation Authority (MTA), in recognition
of the increase in property and land value that transportation projects
often bring to local areas. This existing law is set to sunset in 2023.

This bill amends GM 119-r to make the option of a value capture process
between New York City and the MTA permanent. The bill simultaneously
adds new accountability measures to ensure 1) proper due diligence and
transparency in establishing the increased value to surrounding areas by
any MTA project, and 2) that this process is open to the public. Final-
ly, the legislation removes the explicit mention of tax increment
financing (TIF) as a means for value capture, recognizing widespread
concerns that TIFs can extract much-needed city tax revenues and need-
lessly increase debt service and risk.

In summary: mass transportation capital projects are among the largest
and most consequential public infrastructure investments undertaken by
municipalities and the Metropolitan Transportation Authority.  These
projects can substantially alter neighborhood development patterns,
property values, transportation access, and local tax structures for
decades. Despite the significance of these decisions, existing law does
not provide sufficient requirements for advance public disclosure,
standardized fiscal analysis, or meaningful community engagement before
project financing districts are established.

This bill addresses those deficiencies by establishing clear transparen-
cy and accountability standards for municipalities and the Metropolitan
Transportation Authority when utilizing value capture financing mech-
anisms such as tax increment financing, special transportation assess-
ments, and land value taxation.

Communities, taxpayers, businesses, and local elected representatives
deserve access to reliable information regarding the anticipated costs,
benefits, and fiscal implications of proposed transportation capital
projects before financing structures are approved. Requiring public
disclosure of revenue assumptions, transportation analyses, projected
assessments, and associated economic incentives will improve public
confidence, promote informed decision-making, and strengthen oversight
of major infrastructure investments.

The legislation also ensures that affected community boards and elected
officials are provided adequate notice and opportunity for engagement
prior to required public hearings. In doing so, the bill advances prin-
ciples of open government and meaningful public participation while
preserving the ability of municipalities and the Metropolitan Transpor-
tation Authority to utilize innovative financing tools for critical
transportation infrastructure.

 
PRIOR LEGISLATIVE HISTORY:

This is a new bill.
 
FISCAL IMPLICATIONS:

Anticipated fiscal benefit to the State. Fiscal implication to local
government dependent on scale and nature of value capture mechanisms
agreed to between the City and MTA.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2025-S4203A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4203--A
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2025
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government -- recom-
   mitted to the Committee on Local Government 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 general municipal  law,  in  relation  to  adjusting
   value capture mechanisms for New York city and the metropolitan trans-
   portation authority, including transparency requirements; and to amend
   part PP of chapter 54 of the laws of 2016 amending the general munici-
   pal  law  relating to the New York transit authority and the metropol-
   itan transportation authority, in relation  to  extending  such  value
   capture mechanisms and transparency requirements
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph f of subdivision 1 of section 119-r of the gener-
 al municipal law, as added by section 2 of part PP of chapter 54 of  the
 laws of 2016, is amended to read as follows:
   f.  The  making  of  a  contract  with the metropolitan transportation
 authority, by itself or with one or more other municipal corporations to
 assist the authority in meeting its capital  or  operating  expenses  in
 providing mass transportation services of benefit to all or part of such
 municipal corporation, including undertaking a mass transportation capi-
 tal  project  in  or  near  the  municipal corporation. Such a municipal
 corporation may, according to the terms of the contract with the author-
 ity, establish, levy and collect taxes, assessments, and/or charges  and
 may  conditionally  or  unconditionally grant or pledge a portion of its
 revenues allocated  according  to  [subdivision]  PARAGRAPH  e  of  this
 [section] SUBDIVISION.
   (I) FOR ANY MASS TRANSPORTATION CAPITAL PROJECT LOCATED IN THE CITY OF
 NEW  YORK,  THE  MUNICIPAL  CORPORATION  OR  METROPOLITAN TRANSPORTATION
 AUTHORITY SHALL NOTIFY IN WRITING THE COMMUNITY  BOARD  OR  BOARDS,  ANY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00218-03-6

 S. 4203--A                          2
 
 PART OF WHOSE DISTRICT OR DISTRICTS WOULD BE CONTAINED WITHIN A PROPOSED
 MASS  TRANSPORTATION  CAPITAL PROJECT DISTRICT, AT LEAST FORTY-FIVE DAYS
 PRIOR TO CONDUCTING THE PUBLIC HEARING AS REQUIRED BY THIS SECTION. UPON
 REQUEST FROM SUCH BOARD OR BOARDS THE MUNICIPAL CORPORATION OR AUTHORITY
 SHALL, AT A DATE CONVENIENT TO SUCH BOARD OR BOARDS, PRESENT INFORMATION
 REGARDING  THE  PROPOSED  MASS  TRANSPORTATION  CAPITAL PROJECT AND ALSO
 ALLOW FOR PUBLIC COMMENT. FOR ANY PROPOSED MASS  TRANSPORTATION  CAPITAL
 PROJECT,   THE  MUNICIPAL  CORPORATION  OR  METROPOLITAN  TRANSPORTATION
 AUTHORITY SHALL NOTIFY IN WRITING THE MUNICIPAL, STATE, AND CONGRESSION-
 AL ELECTED REPRESENTATIVES, ANY PART  OF  WHOSE  DISTRICT  OR  DISTRICTS
 WOULD BE CONTAINED WITHIN A PROPOSED MASS TRANSPORTATION CAPITAL PROJECT
 DISTRICT,  AT LEAST FORTY-FIVE DAYS PRIOR TO CONDUCTING THE PUBLIC HEAR-
 ING AS REQUIRED BY THIS PARAGRAPH. Such municipal corporation may desig-
 nate mass transportation capital  project  districts  that  a  municipal
 corporation  finds, after conducting a public hearing, will benefit from
 an identified mass transportation capital project.
   (II) Upon designating [such] a  MASS  TRANSPORTATION  CAPITAL  PROJECT
 district, the municipal corporation may allocate a portion of its reven-
 ues  from the district according to terms it designs or has agreed to by
 contract. The municipal corporation may, in  allocating  and  collecting
 revenues  from  the district, make use of one or more methods to capture
 the value created by a mass transportation capital  project,  including,
 but not limited to:
   [(i)] (1) tax increment financing, meaning the allocation of an incre-
 ment of property tax revenues in excess of the amount levied at the time
 prior to planning of a mass transportation capital project;
   [(ii)]  (2) a special transportation assessment imposed upon benefited
 real property in proportion to the benefit  received  by  such  property
 from a mass transportation capital project, which shall not constitute a
 tax;
   [(iii)]  (3)  land value taxation, meaning the allocation of an incre-
 ment of tax revenues gained from levying taxes on the assessed value  of
 taxable  land  at  a  higher  rate  than the improvements, as defined in
 subdivision twelve of section one hundred two of the real  property  tax
 law; and
   [(iv)]  (4)  some combination of the above or other methods of gaining
 revenues that the municipal corporation is empowered  to  use,  provided
 that the total amount of all taxes, assessments, fees, charges, or rates
 levied  on  each  parcel or lot under this section shall be limited to a
 proportionate amount as near as possible to  the  actual  benefit  which
 each  lot  or  parcel  will  derive from the mass transportation capital
 project; and
   [(v)] (5) for purposes of this paragraph  the  term  municipal  corpo-
 ration  shall  include  only  those cities, towns, villages and counties
 described in section twelve hundred sixty-two of the public  authorities
 law.
   (III) FOR ANY MASS TRANSPORTATION CAPITAL PROJECT IN WHICH A MUNICIPAL
 CORPORATION WOULD USE THE METHODS AUTHORIZED BY THIS PARAGRAPH, AT LEAST
 FORTY-FIVE  DAYS  PRIOR  TO CONDUCTING THE PUBLIC HEARING AS REQUIRED BY
 THIS PARAGRAPH THE MUNICIPAL CORPORATION SHALL PRODUCE  AND  PUBLISH  ON
 ITS WEBSITE TWO SEPARATE ANALYSES THAT INCLUDE, WITHOUT LIMITATION:
   (1)  REVENUE  PROJECTIONS  FOR THE MASS TRANSPORTATION CAPITAL PROJECT
 DISTRICT BASED ON FACTORS, INCLUDING BUT NOT LIMITED TO, HISTORIC  PROP-
 ERTY, SALES, MORTGAGE RECORDING TAX DATA, BUSINESS AND INCOME TAXES, AND
 ANALYSIS  THAT  THE FAIR MARKET VALUE OF PROPERTIES AND PROJECTED SALES,
 BUSINESS, INCOME, AND MORTGAGE RECORDING TAXES WITHIN SUCH DISTRICT  ARE
 S. 4203--A                          3
 
 EXPECTED  TO INCREASE AS A RESULT OF THE IMPROVEMENT, BY MORE THAN WOULD
 HAVE OCCURRED IN THE ABSENCE OF THE IMPROVEMENT AFTER ACCOUNTING FOR THE
 ENTIRE CAPITAL COST OF THE MASS  TRANSPORTATION  CAPITAL  PROJECT  BEING
 FINANCED,  AS  WELL  AS  ANALOGOUS  PROJECTIONS  FOR THE COMMUNITY BOARD
 DISTRICT OR DISTRICTS OR  CITY,  TOWN,  VILLAGE  OR  COUNTY  NOT  WHOLLY
 CONTAINED  WITHIN  A  CITY  SURROUNDING THE PROPOSED MASS TRANSPORTATION
 CAPITAL PROJECT DISTRICT;
   (2) TRANSPORTATION ENGINEERING ANALYSIS SHOWING HOW THE  PUBLIC  WOULD
 BE SERVED BY THE MASS TRANSPORTATION CAPITAL PROJECT IN SUCH DISTRICT OR
 AREA;
   (3)  EXPLANATION FROM THE RELEVANT ASSESSING BODY ON THE AMOUNT OF THE
 PROJECTED SPECIAL TRANSPORTATION ASSESSMENT OR INCREASED LEVY ON A PROP-
 ERTY OR PARCEL;
   (4) PROJECTED COST OF THE  MASS  TRANSPORTATION  CAPITAL  PROJECT  AND
 PROPOSED FUNDING SOURCES;
   (5)  EXPLANATION  FROM THE RELEVANT ASSESSING BODY ON HOW THE PROPOSED
 MASS TRANSPORTATION CAPITAL PROJECT WOULD IMPACT A PROPERTY OR  PARCEL'S
 ASSESSED LAND VALUE, IN ADDITION TO HOW THE PROPOSED MASS TRANSPORTATION
 CAPITAL  PROJECT  WOULD  IMPACT SCHOOL DISTRICT AND SPECIAL DISTRICT TAX
 LEVIES WITHIN THE COUNTY OR CITY NOT WHOLLY CONTAINED  WITHIN  A  COUNTY
 WHERE  THE  PROPOSED  MASS  TRANSPORTATION  PROJECT  DISTRICT  WOULD  BE
 CREATED; AND
   (6) ANY INCENTIVES OR EXPENDITURES PLANNED TO INDUCE COMMERCIAL ACTIV-
 ITY IN THE MASS TRANSPORTATION CAPITAL PROJECT DISTRICT, INCLUDING WITH-
 OUT LIMITATION PAYMENTS IN LIEU OF TAXES,  PAYMENTS  IN  LIEU  OF  SALES
 TAXES,  PAYMENTS  IN  LIEU  OF  MORTGAGE  RECORDING TAXES, STATE GRANTS,
 LOANS, LOAN GUARANTEES, LOAN INTEREST SUBSIDIES, SUBSIDIES, TAX CREDITS,
 TAX EXEMPTIONS, REDUCED TAX RATES OR  OTHER  TAX  INCENTIVES  WHICH  ARE
 APPLIED  FOR AND PREAPPROVED OR CERTIFIED BY A STATE OR MUNICIPAL AGENCY
 OR AUTHORITY, AND INDUSTRIAL DEVELOPMENT  AGENCY  OR  LOCAL  DEVELOPMENT
 CORPORATION ASSISTANCE. SUCH ANALYSES SHALL INCLUDE ACCOMPANYING DATA IN
 A  MACHINE-READABLE, TABULAR FORMAT, AND AN EXPLANATION OF THE METHODOL-
 OGY AND SPECIFIC ASSUMPTIONS USED IN EACH  ANALYSIS.  THE  PUBLIC  SHALL
 HAVE  THE  OPPORTUNITY  TO  SUBMIT  WRITTEN  COMMENTS  ON  THE  ANALYSES
 PROVIDED, AND THE MUNICIPAL CORPORATION AND/OR THE  METROPOLITAN  TRANS-
 PORTATION AUTHORITY SHALL RESPOND TO PUBLIC COMMENTS RECEIVED IN WRITING
 AND/OR  AT  SUCH PUBLIC HEARING IN A REPORT THAT IS POSTED ON THE PUBLIC
 FACING PORTION OF SUCH MUNICIPAL CORPORATION'S WEBSITE NO LATER THAN ONE
 MONTH AFTER SUCH HEARING.
   § 2. Section 3 of part PP of chapter 54 of the laws of  2016  amending
 the general municipal law relating to the New York transit authority and
 the  metropolitan  transportation  authority, as amended by section 1 of
 part I of chapter 58 of the laws of 2025, is amended to read as follows:
   § 3. This act shall take effect immediately; provided that the  amend-
 ments  to  subdivision  1  of section 119-r of the general municipal law
 made by section two of this act shall  expire  and  be  deemed  repealed
 April  1,  [2026]  2031, and provided further that such repeal shall not
 affect the validity or duration of any contract entered into before that
 date pursuant to paragraph f of such subdivision.
   § 3. This act shall take effect immediately and  shall  be  deemed  to
 have been in full force and effect on and after April 1, 2026; provided,
 however,  that the amendments to paragraph f of subdivision 1 of section
 119-r of the general municipal law made by section one of this act shall
 not affect the expiration of such subdivision and  shall  expire  there-
 with.

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Senate Bill S4203A

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Current Bill Status - In Senate Committee Local Government Committee

Actions

Bill Amendments

2025-S4203 - Details

2025-S4203 - Summary

2025-S4203 - Sponsor Memo

2025-S4203 - Bill Text download pdf

2025-S4203A (ACTIVE) - Details

2025-S4203A (ACTIVE) - Summary

2025-S4203A (ACTIVE) - Sponsor Memo

2025-S4203A (ACTIVE) - Bill Text download pdf

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Senate Bill S4203A

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Leroy Comrie

Current Bill Status - In Senate Committee Local Government Committee

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Bill Amendments

2025-S4203 - Details

2025-S4203 - Summary

2025-S4203 - Sponsor Memo

2025-S4203 - Bill Text download pdf

2025-S4203A (ACTIVE) - Details

2025-S4203A (ACTIVE) - Summary

2025-S4203A (ACTIVE) - Sponsor Memo

2025-S4203A (ACTIVE) - Bill Text download pdf

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