Senate Bill S3633A

2013-2014 Legislative Session

Relates to exempting the metropolitan transportation authority from bond issuance charges

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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

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Bill Amendments

2013-S3633 - Details

See Assembly Version of this Bill:
A1825
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2976, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6432, A9280
2015-2016: S691, A502
2017-2018: S229, A1007
2019-2020: S2786, A8036
2021-2022: S5845, A6796
2023-2024: S2872

2013-S3633 - Summary

Exempts the metropolitan transportation authority from bond issuance charges otherwise required to be paid to the state.

2013-S3633 - Sponsor Memo

2013-S3633 - Bill Text download pdf 

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

                                  3633

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 7, 2013
                               ___________

Introduced  by  Sen.  GOLDEN -- 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
  metropolitan 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.  In  December  2010,  the  Metropolitan
Transportation Authority (MTA) increased fares and tolls 7.5 percent and
the  MTA  is  scheduled  to  increase  fares and tolls again another 7.5
percent in both January 2013 and January 2015. In addition, the MTA  has
cut services that have adversely impacted mass transit riders. It is the
intent  of the legislature that the MTA 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.
  S  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 METROPOLITAN  TRANSPORTATION  AUTHORITY
AND to recovery act bonds issued by the state of New York municipal bond
bank  agency in connection with local American Recovery and Reinvestment
Act pursuant to section two thousand four hundred thirty-six-b  of  this
chapter.
  S 3. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04340-01-3

2013-S3633A (ACTIVE) - Details

See Assembly Version of this Bill:
A1825
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §2976, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6432, A9280
2015-2016: S691, A502
2017-2018: S229, A1007
2019-2020: S2786, A8036
2021-2022: S5845, A6796
2023-2024: S2872

2013-S3633A (ACTIVE) - Summary

Exempts the metropolitan transportation authority from bond issuance charges otherwise required to be paid to the state.

2013-S3633A (ACTIVE) - Sponsor Memo

2013-S3633A (ACTIVE) - Bill Text download pdf 

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

                                 3633--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 7, 2013
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 the
  metropolitan 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.  In  December 2010, the Metropolitan
Transportation Authority (MTA) increased fares and tolls 7.5 percent and
increased tolls again in March 2013 by an additional  7.5  percent,  the
costs  of  a  monthly metrocard has gone up 32 percent since the current
series of fare hikes commenced in 2008  and  the  MTA  is  scheduled  to
increase fares and tolls again in January 2015. In addition, the MTA has
cut services that have adversely impacted mass transit riders. It is the
intent  of the legislature that the MTA 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.
  S  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 METROPOLITAN  TRANSPORTATION  AUTHORITY
AND to recovery act bonds issued by the state of New York municipal bond
bank  agency in connection with local American Recovery and Reinvestment
Act pursuant to section two thousand four hundred thirty-six-b  of  this
chapter.
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04340-02-4

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