§ 2804. Financial disclosure by public authorities or commissions
prior to toll or fare increase. (1) Notwithstanding any inconsistent
provision of this chapter or of any other general, special or local law,
every authority or commission heretofore or hereafter continued or
created by this chapter, except those excluded from the operation of
this section by subdivision four, having jurisdiction over highway,
bridge or tunnel facilities shall submit to the governor, comptroller,
chairman of the senate finance committee, chairman of the assembly ways
and means committee and ranking minority member of each of such
committees, not less than one hundred twenty days prior to the proposed
date of any future increase in fees, tolls or other charges for the use
of any such highway, bridge or tunnel facilities, or the imposition of
tolls or fees at such a location which is toll or fee free, a detailed
report setting forth: (a) the need for such increase or imposition; (b)
its receipts and disbursements, or revenues and expenses, during the
prior three fiscal years, or so much thereof as it may have been in
existence, in accordance with the categories or classifications
established by such authority or commission for its own operating and
capital outlay purposes; (c) its assets and liabilities at the end of
its last fiscal year including the status of reserve, depreciation,
special or other funds and including the receipts and payments of these
funds; (d) a schedule of bonds and notes outstanding at the end of its
fiscal year and their redemption dates, together with a statement of the
amounts redeemed and incurred during such fiscal year; (e) information
on future authority or commission operations, debt service and capital
construction, together with estimated receipts and expenditures for the
next five fiscal years without reference to such proposed increase or
imposition; (f) projections and estimates as to the effect which the
proposed increase or imposition will have on the future use of the
facilities, and an estimate of the revenues which will accrue to the
authority or commission as the result of the proposed increase or
imposition.

(2) The comptroller shall review any proposed increase or imposition
in fees, tolls or other charges, and the report required by subdivision
one of this section and within sixty days make public a report of his
findings, conclusions and recommendations. A copy of the comptroller's
report shall be sent to the authority or commission, the governor,
chairman of the senate finance committee, chairman of the assembly ways
and means committee and ranking minority member of each of such
committees.

(3) Every authority or commission shall hold a public hearing or
hearings after receipt of the report of the comptroller required by
subdivision two of this section not less than fifteen days prior to the
effective date of such increase or imposition. Where the increase sought
is or constitutes a portion of a general statewide increase, three
hearings across the state shall be held. Where the increase or
imposition is applicable only to a specific facility or segment, one
hearing in the affected area shall be held. Notice of each hearing shall
be given to the governor, comptroller, and each member of the
legislature at least ten days prior to each such hearing, and shall be
published at least once in two newspapers of daily circulation in the
area where each hearing is to be held at least ten days prior to each
such hearing. All newspapers shall be selected by the authority or
commission. Copies of the proposed increase or imposition, the reports
required by subdivisions one and two of this section shall be available
for public inspection during a period of fifteen days prior to each
hearing at the office or offices of the authority or commission and at a
public facility in each area where a hearing is to be held. Following
such public hearing or hearings, the authority or commission shall
reconsider the proposed increase or imposition and may rescind, change
or modify the proposal as it then deems necessary or advisable.

(4) This section shall not be applicable to any authority or
commission whose existence and jurisdiction is fixed by compact, treaty,
action or agreement with other states or nations.