Assembly Bill A5234

2015-2016 Legislative Session

Creates a transit rehabilitation account within the New York state infrastructure trust fund

download bill text pdf

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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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2015-A5234 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd ยง88, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A662
2019-2020: A2532
2021-2022: A3649

2015-A5234 (ACTIVE) - Summary

Creates a transit rehabilitation account within the New York state infrastructure trust fund; directs twenty-five percent of all moneys received by the state as a result of settlements in actions to which the state is a party to be disbursed into such account.

2015-A5234 (ACTIVE) - Bill Text download pdf 

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

                                  5234

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2015
                               ___________

Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
  Committee on Ways and Means

AN ACT to amend the state finance law, in relation to disbursing certain
  state settlement moneys into the New York state  infrastructure  trust
  fund

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

  Section 1. Subdivisions 3 and 4 of section 88  of  the  state  finance
law,  as  added  by  section  6  of chapter 261 of the laws of 1988, are
amended and a new subdivision 11 is added to read as follows:
  3. Accounts. The  New  York  state  infrastructure  trust  fund  shall
consist of [three] FOUR separate and distinct accounts: (a) the "housing
reserve  account"; (b) the "supplemental housing account"; [and] (c) the
"general fund support account[.]"; AND (D) THE  "TRANSIT  REHABILITATION
ACCOUNT." Moneys in each of the accounts shall be kept separate from and
not  commingled  with any other moneys in the New York state infrastruc-
ture trust fund.
  4. Sources of funds. (a) The "housing reserve account"  shall  consist
of  (i)  all  moneys received from the state of New York mortgage agency
pursuant to the provisions of section seven of the chapter of  the  laws
of  nineteen  hundred  eighty-eight  adding this section and subdivision
twenty-six of section two thousand  four  hundred  four  of  the  public
authorities law, up to a total of eighty million dollars from such agen-
cy,  and  (ii) any other moneys collected therefor or credited or trans-
ferred thereto from any other fund, account or source pursuant  to  law.
Any  interest  received  by  the comptroller on moneys on deposit in the
housing account shall be retained in and become a part of the account.
  (b) The "supplemental housing account" shall  consist  of  all  moneys
credited  or  transferred thereto from any other fund, account or source
pursuant to law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03827-01-5

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