Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 04, 2012 |
referred to corporations, authorities and commissions |
Feb 24, 2011 |
referred to corporations, authorities and commissions |
Assembly Bill A5637
2011-2012 Legislative Session
Sponsored By
NOLAN
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
Actions
co-Sponsors
Margaret Markey
multi-Sponsors
Richard Gottfried
2011-A5637 (ACTIVE) - Details
2011-A5637 (ACTIVE) - Summary
Provides that the triborough bridge and tunnel authority shall transfer in its entirety its annual operating surplus to the metropolitan transportation authority; provides that the metropolitan transportation authority shall, pursuant to resolution, transfer a portion of such surplus to the New York city transit authority (solely for application to the payment of its operating expenses) and retain a portion for application to the payment of its operating expenses and the operating expenses of commuter railroads operated by it, its subsidiary corporations or by others pursuant to joint service arrangements; repeals provisions relating to formula for proportional allocation of the operating surplus of the TBTA between the NYCTA and MTA.
2011-A5637 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5637 2011-2012 Regular Sessions I N A S S E M B L Y February 24, 2011 ___________ Introduced by M. of A. NOLAN, MARKEY -- Multi-Sponsored by -- M. of A. GOTTFRIED -- read once and referred to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to the allo- cation of the triborough bridge and tunnel authority operating surplus and to repeal certain provisions of such law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 2 of section 1219-a of the public authorities law, as amended by section 19 of part O of chapter 61 of the laws of 2000, is amended to read as follows: (b) Promptly upon the making of the certification of its operating surplus, if any, for its fiscal year ending December thirty-first, nine- teen hundred seventy-two and for each of its subsequent fiscal years, triborough bridge and tunnel authority[, at the direction of metropol- itan transportation authority,] shall transfer IN ITS ENTIRETY such operating surplus [(1)] to the metropolitan transportation authority for deposit into one or more funds or accounts to be used as contemplated by section twelve hundred seventy-d of this article, or [(2)] to the authority and the metropolitan transportation authority WHICH, PURSUANT TO RESOLUTION, SHALL (1) TRANSFER A PORTION OF SUCH AMOUNT TO THE NEW YORK CITY TRANSIT AUTHORITY solely for application to the payment of [the] ITS expenses of operation [. For purposes of determining the proportional allocation of the operating surplus as between the authori- ty and the metropolitan transportation authority, the following formula shall apply: (i) twenty-four million dollars plus fifty percentum of the balance of such operating surplus shall be allocable to the authority, and (ii) the remainder shall be allocable to metropolitan transportation authority on behalf], AND (2) RETAIN A PORTION OF SUCH AMOUNT FOR APPLI- CATION TO THE PAYMENT of the commuter railroads operated by it, by its subsidiary corporations or by others under joint arrangements. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09747-01-1
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