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S09528 Summary:

BILL NOS09528
 
SAME ASSAME AS A10454
 
SPONSORSALAZAR
 
COSPNSR
 
MLTSPNSR
 
Add Art 8 Title 7 §§1750 - 1766, Pub Auth L; add Art 29-E §§1299-aa - 1299-ff, Tax L
 
Establishes the green transition authority to promote the transition of the for-hire vehicle and other state industries to environmentally sustainable practices and increase universal accessibility of for-hire vehicles, paratransit services, and taxi services statewide; establishes a for-hire vehicle improvement surcharge for each for-hire transportation trip conducted in a transportation network company vehicle or by a high-volume for-hire service; makes an appropriation therefor.
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S09528 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9528
 
                    IN SENATE
 
                                      May 16, 2024
                                       ___________
 
        Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
          printed to be committed to the Committee on Finance
 
        AN ACT to amend the public authorities law, in relation to  establishing
          the  green  transition authority; to amend the tax law, in relation to
          establishing a for-hire vehicle improvement surcharge; and  making  an
          appropriation therefor

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Short title. This act shall be known and may  be  cited  as
     2  the "green transition authority act".
     3    §  2.  Legislative findings and declaration. The legislature finds and
     4  declares that:
     5    1. New York State's For-Hire Vehicle ("FHV") industry is at the center
     6  of three interlinked crises that impact FHV drivers, people  with  disa-
     7  bilities, and the environment. These issues are:
     8    a. FHV driver poverty. Rideshare driver earnings are in the lowest 10%
     9  of  all  occupations in the United States. This led the City of New York
    10  to establish the first-ever pay regulations for app-based  drivers,  but
    11  long  hours and low pay remain the norm for most of the for-hire vehicle
    12  industry's 91% immigrant, predominantly people  of  color  workforce  of
    13  over  60,000 active drivers in NYC and for thousands more drivers across
    14  the state. Earnings from trips are only half the problem. Union  surveys
    15  indicate  that  on  average, each driver must spend $31,000 per year for
    16  the things they need to do their  job:  a  vehicle,  gas,  repairs,  and
    17  insurance.  Vehicle  costs push drivers into poverty.  Unfunded mandates
    18  to transition to electric vehicles, such as that  of  the  City  of  New
    19  York's "Green Rides" program, risk deepening this crisis.
    20    b.   Climate change. New York's fleet of rideshare vehicles is a major
    21  source of greenhouse gas emissions that drive  climate  change.  In  New
    22  York  City  alone, a fleet of 109,000 gasoline-fueled rideshare vehicles
    23  puts 1.4 million tons of   CO2 into the atmosphere  every  year,  a  62%
    24  increase  from  2013  to 2018 as the FHV fleet ballooned. Transportation
    25  generates approximately 30% of New York City's total  carbon  emissions,
    26  with  the FHV fleet responsible for a substantial portion of this total.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15088-02-4

        S. 9528                             2
 
     1  The massive increase in emissions from the FHV fleet has moved New  York
     2  City  away  from the goal established by the City Council of zero carbon
     3  emissions by 2050. Statewide, rideshare vehicles are a  disproportionate
     4  driver  of  greenhouse  gas  emissions that cause climate change because
     5  they are on the road more hours  than  privately  used  vehicles.  Addi-
     6  tionally,  the  State  is  far behind the curve in meeting its emissions
     7  reductions and renewable energy production established  by  the  Climate
     8  Leadership and Community Protection Act (CLCPA).
     9    c.    Wheelchair accessibility. Very few rideshare vehicles are wheel-
    10  chair accessible across New York State. In 2011, people  with  disabili-
    11  ties  launched  a  campaign  to bring New York City's taxicab fleet into
    12  line with the requirements of the Americans with  Disabilities  Act.  In
    13  2014,  the  campaign won a consent decree that mandated that half of the
    14  taxicab fleet of 13,587 vehicles would be made up of Wheelchair Accessi-
    15  ble Vehicles ("WAVs") by 2020. To fund this mandate, in 2015 the City of
    16  New York created a 30-cent surcharge on all yellow and green  cab  rides
    17  to  establish  a  Taxicab    Improvement  Fund ("TIF") which would issue
    18  grants of up to $30,000  to  medallion  owners  to  buy  vehicles.  This
    19  surcharge  was  recently  increased  to  $1/trip. To date, approximately
    20  4,200 WAV vehicles have been purchased and deployed as taxis, less  than
    21  half  the fleet of 13,587 taxis, and around half the medallion fleet has
    22  not come back on the road since the start of the  pandemic.  As  of  the
    23  most  recent  report,  the  Taxicab  Improvement  Fund  held $47 million
    24  unspent while the program falls short of its goals of a  50%  accessible
    25  taxi  fleet.  With  no funding available on the For-Hire Vehicle side of
    26  the industry, the situation is even worse with only approximately  5,900
    27  wheelchair-accessible vehicles out of a total of 94,000 FHVs in New York
    28  City.   Statewide there is no mandate for accessibility, and wheelchair-
    29  accessible vehicles are even more scarce.
    30    2. It is in the interest of the state to establish a dedicated  public
    31  authority,  the  Green Transition Authority, to address the three crises
    32  of driver poverty, climate change and wheelchair  accessibility  in  the
    33  FHV  industry.  The  Green  Transition  Authority will be able to manage
    34  funding collected through a surcharge on FHV rides,  additional  govern-
    35  ment appropriations, and bond issuances to:
    36    a.  Work  with  auto manufacturers and retrofitters to rapidly develop
    37  and market vehicles that are both zero emissions and wheelchair accessi-
    38  ble;
    39    b. Establish a co-investment program to  incentivize  and  enable  FHV
    40  drivers to purchase zero-emission and wheelchair-accessible vehicles;
    41    c.  Develop electric and zero-emission vehicle charging infrastructure
    42  and maintenance facilities;
    43    d. Establish a voluntary transition  program  for  excess  drivers  to
    44  receive paid training for employment in green jobs;
    45    e.  Fund  other  initiatives  to advance economic development with the
    46  goal of decarbonization of the economy and creating  good,  green  jobs;
    47  and
    48    f. Improve paratransit service across New York State.
    49    3.  It  is  critical that the Green Transition Authority represent the
    50  public, drivers, autoworkers, environmental justice advocates, and disa-
    51  bility justice advocates, and be transparent and  accountable  to  these
    52  stakeholders in managing funding and programs.
    53    §  3.   Article 8 of the public authorities law is amended by adding a
    54  new title 7 to read as follows:
    55                                    TITLE 7
    56                         GREEN TRANSITION AUTHORITY

        S. 9528                             3
 
     1  Section 1750. Definitions.
     2          1751. Green transition authority.
     3          1752. Members.
     4          1753. Purposes, powers and duties of the authority.
     5          1754. Additional powers of the authority.
     6          1755. Green transition fund.
     7          1756. Accounts and funding.
     8          1757. Exemption from taxes, assessments and certain fees.
     9          1758. Audit and annual report.
    10          1759. Labor and procurement standards.
    11          1760. Bonds and notes.
    12          1761. Reserve funds and appropriations.
    13          1762. Exemption from taxation of bonds and notes.
    14          1763. Bonds and notes legal investments for fiduciaries.
    15          1764. Right of state to require redemption of bonds.
    16          1765. Rights and remedies of bondholders and noteholders.
    17          1766. State not liable on bonds and notes.
    18    §  1750. Definitions.   As used or referred to in this title, unless a
    19  different meaning clearly appears from the context:
    20    1. "Authority" means the green transition authority established pursu-
    21  ant to section seventeen hundred fifty-one of this title.
    22    2. "Disadvantaged communities" means communities that bear the burdens
    23  of negative public health effects, environmental pollution, and  impacts
    24  of  climate change, and possess certain socioeconomic criteria, as iden-
    25  tified pursuant to section 75-0111  of  the  environmental  conservation
    26  law,  or  as identified pursuant to the department of energy's Justice40
    27  Initiative, including people with disabilities.
    28    3. "Disadvantaged worker" means a resident of New York state who:
    29    (a) is a woman, when considering construction and building contracts;
    30    (b) has a household income of less than  fifty  percent  of  the  area
    31  median income;
    32    (c) is an individual residing in an area of concentrated poverty;
    33    (d) is disabled;
    34    (e) is a veteran;
    35    (f)  is a  person  previously  incarcerated  or  convicted  of a crim-
    36  inal offense; or
    37    (g) is long-term unemployed.
    38    4.  "Downstate  region"  means that portion of the state that includes
    39  each of the following counties: Nassau, Suffolk, Putnam, Rockland, West-
    40  chester, Bronx, Kings, New York, Queens, and Richmond.
    41    5. "Electric vehicle" means a vehicle  powered  only  by  an  electric
    42  motor  that  draws  current  from  rechargeable  storage batteries, fuel
    43  cells, photovoltaic arrays, or other sources of electric current.
    44    6. "Electric  vehicle  charging  infrastructure"  means  any  physical
    45  infrastructure  required for the construction of electric vehicle charg-
    46  ing stations or any related  equipment  needed  to  facilitate  charging
    47  electric vehicles.
    48    7.  "Electric  vehicle  charging  station" means stations that deliver
    49  electricity from a source outside an electric vehicle into one  or  more
    50  electric vehicles.
    51    8. "Environmentally sustainable practices" means practices that prior-
    52  itize  the  responsible  use of natural resources to maintain ecological
    53  balance and ensure the conservation of resources for future generations.
    54    9. "For-hire vehicle" means any transportation network company vehicle
    55  ("TNC vehicle") as defined in section sixteen hundred ninety-one of  the

        S. 9528                             4
 
     1  vehicle  and  traffic law and any for-hire vehicle as defined in section
     2  19-502 of the administrative code of the city of New York.
     3    10.  "For-hire  vehicle  improvement surcharge" means the surcharge on
     4  for-hire   vehicle   transportation   trips   imposed   under    article
     5  twenty-nine-E of the tax law.
     6    11.  "Green  job" means employment within industries that employ envi-
     7  ronmentally sustainable practices.
     8    12. "Upstate region" means that portion of  the  state  that  includes
     9  each and every county of the state not included in the downstate region.
    10    13.  "Wheelchair-accessible  vehicle"  means a vehicle equipped with a
    11  hydraulic lift or ramps designed for the purpose of transporting persons
    12  in wheelchairs or containing any other  physical  device  or  alteration
    13  designed  to  permit  access to and enable the transportation of persons
    14  with disabilities.
    15    14. "Zero-emission vehicle" means a vehicle that  produces  no  direct
    16  exhaust or tailpipe emissions and includes, but is not limited to, elec-
    17  tric vehicles.
    18    15. "President" means the chief executive officer of the authority.
    19    16. "Paratransit" means  transportation service required by the feder-
    20  al Americans with disabilities act for individuals with disabilities who
    21  are  unable  to  use fixed route transportation systems as defined in 49
    22  CFR § 37.3.
    23    § 1751. Green transition authority. There is hereby created the  green
    24  transition authority.  The authority shall be a body corporate and poli-
    25  tic constituting a public benefit corporation.
    26    §  1752.  Members.  1.  The  authority  shall consist of eleven voting
    27  members, who shall be appointed as follows: two shall be representatives
    28  of environmental justice organizations, one of whom shall  be  appointed
    29  by  the  governor,  and one of whom shall be appointed by the speaker of
    30  the assembly; two shall be representatives of disability justice  organ-
    31  izations,  one  of  whom  shall be appointed by the governor, and one of
    32  whom shall be appointed by the temporary president of  the  senate;  one
    33  shall  be a representative of a New York state worker cooperative corpo-
    34  ration owned by drivers licensed by the New York city taxi and limousine
    35  commission and shall be appointed by the governor; one shall be a repre-
    36  sentative of an organization with a track record  of  advocating  for  a
    37  transition  to  electric  and wheelchair-accessible vehicles in the for-
    38  hire vehicle industry and shall be  appointed  by  the  speaker  of  the
    39  assembly; one shall be a representative of a labor union that represents
    40  paratransit  drivers  in  New  York  state and shall be appointed by the
    41  governor; one shall be a representative of an automotive workers'  union
    42  and  shall  be  appointed  by the temporary president of the senate; one
    43  shall be a representative of an electrical workers' union and  shall  be
    44  appointed by the governor; and two shall be appointed by the governor as
    45  at-large  representatives  of  the  public.    Five of the members shall
    46  reside in the upstate region of the state and six of the  members  shall
    47  reside in the downstate region.  All of the appointed members shall have
    48  relevant  experience in any or all of the following areas: environmental
    49  justice, disability justice, energy markets, energy systems,   organized
    50  labor,  workforce development, sustainable land use, transportation, and
    51  clean energy.
    52    2. All members shall continue to hold office  until  their  successors
    53  are  appointed and qualify. Of the appointed members, six of the members
    54  appointed by the governor shall serve initial terms of four years, while
    55  the remaining five members shall serve initial  terms  of  three  years.
    56  Thereafter, all terms shall be for a period of four years.

        S. 9528                             5
 
     1    3.  Vacancies  shall  be  filled  in  the manner provided for original
     2  appointments. Members may be removed from office for  the  same  reasons
     3  and  in  the  same  manner  as may be provided by law for the removal of
     4  officers of a county.
     5    4.  The  members of the authority shall designate the chair. The chair
     6  shall preside over meetings of the authority  and  shall  serve  as  the
     7  primary  liaison  between  the members and authority staff. A vice-chair
     8  may be elected by the authority from among its other members to serve as
     9  such at the pleasure of the authority. The vice-chair shall preside over
    10  all meetings of the authority in the absence of the chair and shall have
    11  such other duties as the authority may prescribe. The president shall be
    12  the chief executive officer of the  authority  and  shall  be  primarily
    13  responsible  for the discharge of the executive and administrative func-
    14  tions of the authority.
    15    5. The members of the authority  shall  receive  no  compensation  for
    16  their  services  but shall be reimbursed for all other actual and neces-
    17  sary expenses incurred in  connection  with  the  carrying  out  of  the
    18  purposes of this title.
    19    §  1753.  Purposes,  powers  and  duties  of the authority.   1.   The
    20  purposes of the authority shall be to  promote  the  transition  of  the
    21  for-hire vehicle and other state industries to environmentally sustaina-
    22  ble practices and increase universal accessibility of for-hire vehicles,
    23  paratransit services, and taxi services statewide.
    24    2.    Except  as  otherwise limited by this title, the authority shall
    25  have the power to:
    26    (a)  Sue and be sued;
    27    (b) Have a seal or alter such seal at pleasure;
    28    (c) Make and alter by-laws for its organization and management and  to
    29  make  and  alter  rules  and  regulations  governing the exercise of its
    30  powers and fulfillment of its purposes under this title;
    31    (d) Make rules and regulations governing the exercise of its corporate
    32  powers and the fulfillment of its corporate purposes  under  this  title
    33  and  title nine-A of this article, which shall be filed with the depart-
    34  ment of state in the manner provided by section one hundred two  of  the
    35  executive law;
    36    (e)  Appoint such officers,  agents, and  employees, without regard to
    37  any personnel or civil service law, rule or regulation of the state  and
    38  in  accordance  with  guidelines  adopted  by  the  authority, as it may
    39  require for the performance of its duties and to fix and determine their
    40  qualifications, duties and compensation;
    41    (f) Acquire, lease, hold, and dispose of real and  personal  property,
    42  whether tangible or intangible, or any interest therein, by any method;
    43    (g) Make and execute agreements, contracts or other instruments neces-
    44  sary  or convenient for the exercise of its functions, powers and duties
    45  under this title;
    46    (h) Fix and collect fees, rentals and charges for the use of any prop-
    47  erty or facility under its jurisdiction, or for the sale of any product,
    48  by-product or service produced in or provided by any such facility,  and
    49  establish  the  rights and privileges created upon payment thereof. Such
    50  fees, rentals and charges shall be established by the authority so as to
    51  produce, in the judgment of the authority, revenues sufficient, together
    52  with any other funds available to the authority, to meet the expenses of
    53  maintenance and operation of the facilities of the authority,  to  repay
    54  any  moneys  repayable  to the state, to fulfill the terms of agreements
    55  with the holders of its bonds,  notes,  or  other  obligations,  and  to

        S. 9528                             6
 
     1  provide  funds  for  such  other corporate purposes as the authority may
     2  deem appropriate;
     3    (i)  Borrow money and issue such notes, bonds, or other obligations in
     4  relation to such indebtedness, and secure any of its   obligations    by
     5  mortgage  or pledge of all or any of its property or any interest there-
     6  in, wherever situated;
     7    (j) Arrange for guarantees of its bonds, notes, or  other  obligations
     8  by  the federal government or by any private insurer or otherwise and to
     9  pay any premiums therefor;
    10    (k) Purchase bonds, notes, or other obligations of  the  authority  at
    11  such price or prices as the authority may determine;
    12    (l)  Lend money, invest and reinvest its funds, and take and hold real
    13  and personal property as security for the payment of funds so loaned  or
    14  invested;
    15    (m)  Procure  insurance  or  obtain  indemnification  from the federal
    16  government or other persons against any  loss  in  connection  with  its
    17  properties  or operations in such amount or amounts and from such insur-
    18  ers, including the federal government,  as  it  may  deem  necessary  or
    19  desirable, and to pay any premiums therefor;
    20    (n) Accept any gifts or grants or loans of funds or property or finan-
    21  cial  or other aid in any form from the federal government or any agency
    22  or instrumentality thereof, the state,  or  any  other  source,  and  to
    23  comply  with  the  provisions of this title and the terms and conditions
    24  thereof;
    25    (o) Engage the services of bond counsel, financial advisors,  account-
    26  ants,  engineers, attorneys, and other private consultants on a contract
    27  basis for rendering professional and technical assistance and advice;
    28    (p) Create or acquire one or more wholly-owned subsidiaries as may  be
    29  necessary to carry out the provisions of this title;
    30    (q)  Negotiate  and  enter  into agreements with trustees or receivers
    31  appointed by United States bankruptcy courts or federal district  courts
    32  or  in other proceedings involving adjustment of debts, and to authorize
    33  legal counsel for the authority to appear in any such proceedings;
    34    (r) File a petition under chapter nine of title eleven of  the  United
    35  States  bankruptcy code, or take other similar action for the adjustment
    36  of its debts;
    37    (s) Enter into management agreements for the operation of all  or  any
    38  of the property or facilities owned by the authority;
    39    (t) Maintain an office or offices at such place or places in the state
    40  as it may determine;
    41    (u)  Make  any  inquiry,  investigation,  survey,  or  study which the
    42  authority may deem  necessary to enable it to effectively carry out  the
    43  provisions  of  this  title  and to require the   production of records,
    44  books, papers, accounts, and other documents, including public  records,
    45  and to make copies thereof or extracts therefrom;
    46    (v)  Adopt,  revise,  amend,  and  repeal  rules  and regulations with
    47  respect to its operations, properties, facilities, and projects  as  may
    48  be  necessary  or  convenient  to  carry out the purposes of this title,
    49  subject to the provisions of the state administrative procedure act;
    50    (w) From time to time enter into agreements with the  New  York  state
    51  energy  research  and  development authority, the department of environ-
    52  mental conservation, the New York power  authority,  the  department  of
    53  labor, the department of state, the metropolitan transportation authori-
    54  ty,  the  taxi  and limousine commission or any other relevant entity to
    55  finance the capital costs of projects  authorized  pursuant  to  section
    56  eighty-eight-b  of  the  state finance law, and to issue bonds and notes

        S. 9528                             7
 
     1  for capital projects approved by the board; provided, however, that each
     2  provision of this title relating to bonds and notes which are not incon-
     3  sistent with the provisions of this section shall apply to the bonds and
     4  notes authorized by this section;
     5    (x) Request support and services to the authority from any other state
     6  agency or authority;
     7    (y) Levy fines and fees;
     8    (z)  Establish  and  issue grants for programs, jobs, upgrades, or for
     9  any other purpose within the scope of the authority; and
    10    (aa) Prioritize granting funds to projects, programs  and  initiatives
    11  in disadvantaged communities or disadvantaged workers.
    12    3. (a) The authority shall not give, grant, gift, or loan money to any
    13  projects,  jobs,  programs,  or  initiatives  that further dependence on
    14  fossil fuels.
    15    (b) The authority shall not grant or gift money to any projects, jobs,
    16  programs, or initiatives whose shares contain a fifty percent or greater
    17  interest from a fossil fuel company or that are being led  by  a  fossil
    18  fuel company.
    19    (c)  The  authority  shall not give, grant, gift, or loan money to any
    20  projects, jobs,  programs  or  initiatives  that  use  blue,  turquoise,
    21  brown/black, yellow, white or grey hydrogen, or any combination thereof,
    22  or  the  production  thereof  in  any  amount. Any use of such colors of
    23  hydrogen that are combined with green hydrogen  shall  not  receive  any
    24  funding from the authority.
    25    § 1754. Additional powers of the authority.  In addition to the powers
    26  enumerated  in  section seventeen hundred fifty-three of this title, the
    27  authority shall have the power and obligation to:
    28    1. Collect data from transportation network company providers  operat-
    29  ing in the state including, but not limited to: (a) the number of wheel-
    30  chair-accessible  and  electric  vehicles  operating  in  each county or
    31  region; (b) the number of trips, and mileage driven by TNC vehicles; and
    32  (c) the annual estimated emissions of TNC vehicles statewide;
    33    2. Conduct and publish annual studies of the for-hire vehicle industry
    34  to set standards and goals for the transition of  the  for-hire  vehicle
    35  industry to the exclusive use of zero-emission and wheelchair-accessible
    36  vehicles;
    37    3.  Convene  a green and accessible vehicle taskforce, including envi-
    38  ronmental justice, disability  justice,  and  labor  advocates  to:  (a)
    39  assess the availability of zero-emission and wheelchair-accessible vehi-
    40  cles; (b) work with government authorities and automakers to ensure that
    41  vehicles  meeting  appropriate environmental and accessibility standards
    42  are brought to market; and (c) vet vehicles eligible  for  inclusion  in
    43  the  co-investment  program pursuant to subdivision four of this section
    44  based on their available features  and  the  automakers'  commitment  to
    45  labor, social and environmental benefits;
    46    4.  Administer  a co-investment program for the purchase of qualifying
    47  vehicles, under the terms of which for-hire  vehicle  drivers  shall  be
    48  eligible for a voucher of an amount and under the terms to be determined
    49  by  the  authority  toward  the  purchase  of zero-emission vehicles and
    50  wheelchair-accessible vehicles approved for inclusion in the program  by
    51  the green and accessible vehicle taskforce pursuant to subdivision three
    52  of this section;
    53    5.  After  zero-emission  and wheelchair-accessible vehicle transition
    54  goals are met, develop and administer a voluntary program for drivers of
    55  for-hire vehicles to receive training and  financial  support  to  enter
    56  into alternative employment in public service or green jobs;

        S. 9528                             8

     1    6.  Fund  the  development  of  infrastructure required to support the
     2  expanding use of zero-emission vehicles, including but  not  limited  to
     3  electric vehicle charging infrastructure;
     4    7.  Fund  the  purchase of accessible electric and zero-emission vehi-
     5  cles, excluding any hydrogen-based vehicles that operate on any color of
     6  hydrogen other than green hydrogen, and infrastructure needed to transi-
     7  tion public paratransit services to zero-emission vehicles;
     8    8. Any and all other activities that promote and help  achieve  green-
     9  house gas reduction and compliance with the state's emissions reductions
    10  mandates  under the climate leadership and community protection act, the
    11  city of New York's 80 x 2050 initiative and local law  ninety-seven,  or
    12  future  requirements  for additional greenhouse gas emissions reductions
    13  that the legislature may impose, and infrastructure  to  environmentally
    14  sustainable practices, and in the public interest; and
    15    9.  Fund  programs  to  expand  and improve reliability of paratransit
    16  services in the state including, but not limited to:  (a)  purchase  and
    17  operation  of  accessible zero-emission vehicles by paratransit agencies
    18  and their contractors; (b) expansion of and ongoing support  for  on-de-
    19  mand paratransit service; (c) expansion of paratransit service to broad-
    20  er  geographic  areas;  and  (d)  other innovative projects that seek to
    21  enhance paratransit service quality through improved technology,  educa-
    22  tion, and other strategies.
    23    §  1755.  Green  transition  fund.  1.  The authority shall create and
    24  establish a fund to be known as the "green transition fund" which  shall
    25  be  kept separate from and shall not be commingled with any other moneys
    26  of the authority. The green transition  fund  shall  consist  of  moneys
    27  received  by  the authority pursuant to the provisions of section twelve
    28  hundred ninety-nine-ff of the tax law in accordance with the  provisions
    29  thereof.
    30    2.    Moneys  in  the  fund shall be used for the exclusive purpose of
    31  funding programs administered by the authority.
    32    3. Any revenues deposited in the green  transition  fund  pursuant  to
    33  subdivision  one  of  this  section  shall  be  used exclusively for the
    34  purposes described in subdivision two of  this  section.  Such  revenues
    35  shall  only  supplement  and  shall  not supplant any federal, state, or
    36  local funds expended by the authority or such authority's affiliates  or
    37  subsidiaries for such purposes.
    38    4.   Any revenues deposited into the green transition fund pursuant to
    39  subdivision one of this section shall not be diverted into  the  general
    40  fund  of  the  state,  any  other fund maintained for the support of any
    41  other governmental purpose, or for any other purpose not  authorized  by
    42  subdivision two of this section.
    43    5.  The  authority  shall  report on the receipt and uses of all funds
    44  received by the green transition fund to the director of the budget, the
    45  temporary president of the senate, and the speaker of the  assembly,  on
    46  an annual basis no later than the first day of February.
    47    §  1756.    Accounts and funding.  1. The programs administered by the
    48  authority shall be funded in part by the green  transition  fund  estab-
    49  lished  pursuant  to  section seventeen hundred fifty-five of this title
    50  and any other moneys received  by  the  authority,  including  payments,
    51  gifts, or appropriations to the authority from any other source.
    52    2.  The authority shall be authorized to set a standard rate for vehi-
    53  cle charging stations owned by the authority and to collect any  revenue
    54  generated from such charging stations.
    55    3.  The  authority  shall have the power and is hereby authorized from
    56  time to time to issue its negotiable bonds in conformity with applicable

        S. 9528                             9
 
     1  provisions of the uniform commercial code for any purpose authorized  by
     2  this title.
     3    §  1757.  Exemption  from  taxes, assessments and certain fees.  It is
     4  hereby determined that the creation of the authority  and  the  carrying
     5  out  of its corporate purposes is in all respects for the benefit of the
     6  people of the municipality and the state and is a public purpose and the
     7  authority shall be regarded as performing a governmental function in the
     8  exercise of the powers conferred upon it by this title and shall not  be
     9  required  to pay any taxes, special ad valorem levies or special assess-
    10  ments upon any property owned by it or under its  jurisdiction,  control
    11  or supervision or upon its activities or any filing, recording or trans-
    12  fer  fees  or taxes in relation to instruments filed, recorded or trans-
    13  ferred by it or on its behalf.  The  construction,  use,  occupation  or
    14  possession  of  any property owned by the authority or the municipality,
    15  including improvements thereon, by  any  person  or  public  corporation
    16  under a lease, lease and sublease or any other agreement shall not oper-
    17  ate  to  abrogate or limit the foregoing exemption, notwithstanding that
    18  the lessee, user, occupant or person in possession shall claim ownership
    19  for federal income tax purposes. Mortgages made or financed, directly or
    20  indirectly, by the authority shall be exempt from the mortgage recording
    21  taxes imposed by article eleven of the tax law. The authority  shall  be
    22  deemed  a  public  authority  for  the  purposes of section four hundred
    23  twelve of the real property tax law.
    24    § 1758. Audit and annual report. In conformity with the provisions  of
    25  section  five  of  article  ten of the constitution, the accounts of the
    26  authority shall be subject to the supervision of the  state  comptroller
    27  and  an  annual  audit  shall  be  performed by an independent certified
    28  accountant. The authority shall annually submit to the  governor,  state
    29  comptroller  and  state  legislature  a  detailed report pursuant to the
    30  provisions of section twenty-eight hundred of this chapter, and  a  copy
    31  of  such  report  shall be filed with every municipality included in the
    32  report. The authority shall comply with the provisions of sections twen-
    33  ty-eight hundred one, twenty-eight hundred two and twenty-eight  hundred
    34  three of this chapter.
    35    § 1759. Labor and procurement standards. 1. Any project that is funded
    36  by the authority shall:
    37    (a)  Be  deemed  a public work project subject to article eight of the
    38  labor law;
    39    (b) Require that any materials used in the  project  are  produced  or
    40  made  in whole or substantial part in the United States, its territories
    41  or possessions; provided, however, that the authority shall establish  a
    42  waiver  process  authorizing  the purchase of project materials that are
    43  produced or made in whole or substantial  part  outside  of  the  United
    44  States, its territories or possessions when such materials are not read-
    45  ily available or cost-effective;
    46    (c)  Require that any public owner or third party acting on the behalf
    47  of a public owner enter into a project labor  agreement  as  defined  by
    48  section  two  hundred  twenty-two  of the labor law for all construction
    49  work;
    50    (d) Require the payment of prevailing wage standards  consistent  with
    51  article nine of the labor law for building services work; and
    52    (e)  Require  that  all rights or benefits, including terms and condi-
    53  tions of employment, and protection  of  civil  service  and  collective
    54  bargaining  status  of all existing public employees and the work juris-
    55  diction, covered job titles, and work  assignments,  set  forth  in  the

        S. 9528                            10
 
     1  civil service law and collective bargaining agreements with labor organ-
     2  izations representing public employees shall be preserved and protected.
     3    2. Any such project shall not result in the:
     4    (a) Displacement of any currently employed worker or loss of position,
     5  including  partial displacement such as a reduction in the hours of non-
     6  overtime work, wages, or employment benefits, or result in  the  impair-
     7  ment of existing collective bargaining agreements;
     8    (b)  Transfer  of existing duties and functions related to maintenance
     9  and operations performed by existing employees of authorized entities to
    10  a contracting entity; or
    11    (c) Transfer of future duties and functions  ordinarily  performed  by
    12  employees of authorized entities to a contracting entity.
    13    3. The authority shall include requirements in any procurement that:
    14    (a)  the  materials, components, parts or vehicles be produced or made
    15  in whole or substantial part in the United States,  its  territories  or
    16  possessions;  provided, however, that the president of the authority, or
    17  the president's designee may  waive  the  procurement  requirements  set
    18  forth  in  this  paragraph  if  such  official  determines that: (i) the
    19  requirements would not be in the public interest; (ii) the  requirements
    20  would  result  in  unreasonable  costs; (iii) obtaining such infrastruc-
    21  ture-related materials, components or parts in the United  States  would
    22  increase  the  cost  of a project by an unreasonable amount; or (iv) any
    23  such vehicles, parts, or components cannot be produced, made, or  assem-
    24  bled in the United States in sufficient and reasonably available quanti-
    25  ties or of satisfactory quality. Determinations on waivers shall be made
    26  on  an annual basis no later than December thirty-first, after providing
    27  notice and opportunity for public comment, and such determination  shall
    28  be  made publicly available, in writing, on the authority's website with
    29  a detailed explanation of the findings leading to such a  determination.
    30  If  the  president or the president's designee has issued determinations
    31  for three consecutive years finding that no  such  waiver  is  warranted
    32  pursuant  to  this  paragraph,  then  the  authority  shall no longer be
    33  required to provide the annual determination required by this paragraph.
    34    (b) the authority shall use a system for procurement that incorporates
    35  a best-value contracting framework to consider  the  quality,  cost  and
    36  efficiency  of  offerors  when evaluating procurement contract proposals
    37  for the purchase of zero-emission vehicles and charging equipment.  Such
    38  framework  shall  reflect, whenever possible, objective and quantifiable
    39  analysis. Such framework shall identify a quantitative factor for  offe-
    40  rors  that  prioritize  and  include  the  following in such procurement
    41  contract proposal:
    42    (i) an employment plan which shall include but not be limited to:
    43    (1) worker wages;
    44    (2) worker benefits;
    45    (3) worker safety;
    46    (4) training, retraining, and registered apprenticeship programs; and
    47    (5) a commitment to create high-quality jobs within the state  to  the
    48  maximum  extent  practicable for disadvantaged or underrepresented indi-
    49  viduals;
    50    (ii) a commitment to consider the interests of members of the communi-
    51  ty that surround such offeror's facility and the interests of members of
    52  the community from which workers are recruited;
    53    (iii) a description of efforts by the offeror to lower greenhouse  gas
    54  emissions and such offeror's impact on climate change; and
    55    (iv)  compliance  with  local, state, and federal labor, civil rights,
    56  and environmental laws and regulations. Violations of local, state,  and

        S. 9528                            11
 
     1  federal  labor,  civil  rights,  and  environmental laws and regulations
     2  shall be considered a negative factor  in  the  authority's  procurement
     3  framework.
     4    4.  The framework established pursuant to paragraph (b) of subdivision
     5  three of this section shall include a notice to  offerors  stating  that
     6  the  terms  and conditions of employment and content of employment plans
     7  and reports required by subdivision  three  of  this  section  shall  be
     8  subject to disclosure under the freedom of information law; and
     9    5.  The  final procurement contract and any compliance documents shall
    10  be made available to the public on the authority's website.
    11    § 1760. Bonds and notes. 1. The authority shall have the power and  is
    12  hereby  authorized  to  issue at one time or in series from time to time
    13  its negotiable bonds and notes in conformity with applicable  provisions
    14  of  the  uniform  commercial  code  in such principal amounts as, in the
    15  opinion of the authority,  shall  be  necessary  to  provide  sufficient
    16  moneys  for  achieving the authority's corporate purposes, including the
    17  establishment of reserves to secure the bonds and notes and the  payment
    18  of interest on bonds and notes.
    19    2.  The authority shall have power from time to time to renew bonds or
    20  notes or to issue renewal bonds or notes  for  such  purpose,  to  issue
    21  bonds  or  notes to pay bonds or notes, and, whenever it deems refunding
    22  expedient, to refund any bond or note by the issuance of  new  bonds  or
    23  notes,  whether  the  bonds  or  notes  to  be refunded have or have not
    24  matured, and may issue bonds or notes partly to refund  bonds  or  notes
    25  then  outstanding  and  partly  for  any  other corporate purpose of the
    26  authority. Bonds or notes issued for refunding purposes  shall  be  sold
    27  and  the  proceeds applied to the purchase, redemption or payment of the
    28  bonds or notes to be refunded.
    29    3. Except as may otherwise be expressly  provided  by  the  authority,
    30  every  issue  of bonds or notes shall be general obligations payable out
    31  of any moneys or revenues of the authority, subject only to  any  agree-
    32  ments with the holders of bonds or notes pledging any receipts or reven-
    33  ues.
    34    4.  The  bonds  and  notes  shall  be  authorized by resolution of the
    35  authority, shall bear such date or dates and  mature  at  such  time  or
    36  times  as  such  resolution  shall  provide,  except  that notes and any
    37  renewals thereof shall mature within five years  from  their  respective
    38  dates of issuance or renewal, as the case may be, and bonds shall mature
    39  within  forty  years from their respective dates of issuance or renewal,
    40  as the case may be. The bonds and notes shall bear interest at such rate
    41  or rates, be in such denomination, be in such  form,  either  coupon  or
    42  registered,  carry  such  registration  privileges,  be executed in such
    43  manner, be payable in such medium of payment at such  place  or  places,
    44  and  be subject to such terms of redemption as such resolution or resol-
    45  utions may provide.
    46    5. Bonds and notes shall be  sold  by  the  authority,  at  public  or
    47  private  sale,  at  such price or prices as the authority may determine.
    48  Bonds and notes of the authority shall not be sold by the  authority  at
    49  private  sale  unless such sale and the terms thereof have been approved
    50  in writing by the comptroller, where such  sale  is  not  to  the  comp-
    51  troller,  or  by  the  director of the budget, where such sale is to the
    52  comptroller.
    53    6. In the discretion of the authority any bonds or issue of  bonds  or
    54  notes  or issue of notes may be secured by such resolution or by a trust
    55  indenture by and between the authority and a corporate trustee which may
    56  be any trust company or bank having the powers of a trust company in the

        S. 9528                            12
 
     1  state or by a secured loan agreement or other  instrument.  Such  resol-
     2  ution,  trust  indenture, loan agreement or other instrument may contain
     3  any usual or customary provisions, covenants or limitations for bonds or
     4  notes  of  similar nature which shall be a part of the contract with the
     5  holders thereof, including such provisions for protecting and  enforcing
     6  the rights and remedies of bondholders and noteholders as may be reason-
     7  able and proper and not in violation of law.
     8    7. Any resolution or resolutions authorizing any notes or bonds or any
     9  issue  thereof  may  contain  provisions,  which  shall be a part of the
    10  contract with the holders thereof, as to:
    11    (a) pledging all or part of the fees, charges, gifts,  grants,  rents,
    12  revenues or other moneys received or to be received and leases or agree-
    13  ments to secure the payment of the notes or bonds or of any issue there-
    14  of  subject  to  such agreements with bondholders and noteholders as may
    15  then exist;
    16    (b) the rates of the fees  or  charges  to  be  established,  and  the
    17  amounts to be raised in each year thereby and the use and disposition of
    18  the  fees,  charges,  gifts,  grants,  rents,  revenues  or other moneys
    19  received or to be received;
    20    (c) the setting aside of reserves or sinking funds, and the regulation
    21  and disposition thereof;
    22    (d) limitations on the purpose to which the proceeds of  sale  of  any
    23  issue  of  notes or bonds then or thereafter to be issued may be applied
    24  and pledging such proceeds to secure the payment of the notes  or  bonds
    25  or of any issue thereof;
    26    (e)  limitations  on  the  issuance  of additional notes or bonds; the
    27  terms upon which additional notes or bonds may be  issued  and  secured;
    28  the refunding of outstanding or other notes or bonds;
    29    (f)  the  procedure,  if  any, by which the terms of any contract with
    30  bondholders or noteholders may be amended or abrogated,  the  amount  of
    31  notes or bonds the holders of which must consent thereto, and the manner
    32  in which such consent may be given; and
    33    (g)  any  other  matters, of like or different character, which in any
    34  way affect the security or protection of the notes or bonds.
    35    8. It is the intention hereof that any pledge made  by  the  authority
    36  shall  be  valid and binding from the time when the pledge is made, that
    37  the moneys so pledged and thereafter received  by  the  authority  shall
    38  immediately  be  subject to the lien of such pledge without any physical
    39  delivery thereof or further act, and that the lien of  any  such  pledge
    40  shall  be  valid and binding as against all parties having claims of any
    41  kind in tort, contract or otherwise against the  authority  irrespective
    42  of  whether such parties have notice thereof. Neither the resolution nor
    43  any other instrument by which a pledge is created need be recorded.
    44    9. Neither the members of the authority nor any person  executing  the
    45  bonds  or  notes  shall be liable personally on the bonds or notes or be
    46  subject to any personal liability or accountability  by  reason  of  the
    47  issuance thereof.
    48    10.  Subject to such agreements with bondholders or noteholders as may
    49  then exist, the authority shall have power out of  any  funds  available
    50  therefor  to purchase bonds or notes at a price not exceeding (a) if the
    51  notes or bonds are then redeemable, the redemption price then applicable
    52  plus accrued interest to the next interest payment date thereon, or  (b)
    53  if  the  notes  or  bonds  are not then redeemable, the redemption price
    54  applicable on the first date after such purchase upon which the notes or
    55  bonds become subject to redemption plus accrued interest to  said  date.
    56  Bonds and notes so purchased shall thereupon be cancelled.

        S. 9528                            13
 
     1    11.  The state does hereby pledge to and agree with the holders of any
     2  bonds or notes that the state will not limit or  alter  the  rights  and
     3  powers vested in the authority by this title to fulfill the terms of any
     4  contract  made  by the authority with such holders, or in any way impair
     5  the  rights  and  remedies  of  such holders until such bonds and notes,
     6  together with the interest thereon, with interest on any unpaid install-
     7  ments of interest, and all costs and expenses  in  connection  with  any
     8  action  or proceeding by or on behalf of such holders, are fully met and
     9  discharged. The authority is  authorized  to  include  this  pledge  and
    10  agreement  of the state, insofar as it refers to holders of any bonds or
    11  notes, in any contract with such holders.
    12    § 1761. Reserve funds and appropriations. 1. The authority may  create
    13  and  establish  one  or  more  reserve funds to be known as debt service
    14  reserve funds and may pay into such reserve funds (a) any moneys  appro-
    15  priated  and made available by the state for the purposes of such funds,
    16  (b) any proceeds of sale of bonds and notes to the  extent  provided  in
    17  the  resolution  of  the authority authorizing the issuance thereof, (c)
    18  any moneys directed to be transferred by the authority  to  such  funds,
    19  and  (d)  any  other moneys which may be made available to the authority
    20  for the purposes of such funds from any other  source  or  sources.  The
    21  moneys  held in or credited to any debt service reserve fund established
    22  under this subdivision, except as hereinafter provided,  shall  be  used
    23  solely  for  the  payment  of  the  principal  of bonds of the authority
    24  secured by such reserve fund, as the same mature, required  payments  to
    25  any sinking fund established for the amortization of such bonds (herein-
    26  after  referred  to as "sinking fund payments"), the purchase or redemp-
    27  tion of such bonds of the authority, the payment  of  interest  on  such
    28  bonds of the authority or the payment of any redemption premium required
    29  to  be  paid  when  such bonds are redeemed prior to maturity; provided,
    30  however, that moneys in any such fund shall not be  withdrawn  therefrom
    31  at  any  time  in such amount as would reduce the amount of such fund to
    32  less than the maximum amount of  principal  and  interest  maturing  and
    33  becoming due in any succeeding calendar year on the bonds of the author-
    34  ity  then  outstanding  and secured by such reserve fund, except for the
    35  purpose of paying principal and interest on the bonds of  the  authority
    36  secured  by such reserve fund maturing and becoming due and sinking fund
    37  payments for the payment of which other moneys of the authority are  not
    38  available.  Any  income or interest earned by, or increment to, any such
    39  debt service reserve fund due to the investment thereof  may  be  trans-
    40  ferred  to  any  other fund or account of the authority to the extent it
    41  does not reduce the amount of such debt service reserve fund  below  the
    42  maximum  amount  of  principal and interest maturing and becoming due in
    43  any succeeding  calendar  year  on  all  bonds  of  the  authority  then
    44  outstanding  and  secured by such reserve fund.  In computing the amount
    45  of any debt service reserve fund for the purposes of this section, secu-
    46  rities in which all or a portion of such reserve fund are invested shall
    47  be valued at par or, if purchased at less than par, at their cost to the
    48  authority.
    49    2. The authority shall not issue bonds at  any  time  if  the  maximum
    50  amount of principal and interest maturing and becoming due in a succeed-
    51  ing  calendar  year  on  the bonds outstanding and then to be issued and
    52  secured by a debt service reserve fund will exceed the  amount  of  such
    53  reserve  fund at the time of issuance, unless the authority, at the time
    54  of issuance of such bonds, shall deposit in such reserve fund  from  the
    55  proceeds  of  the  bonds  so to be issued, or otherwise, an amount which
    56  together with the amount then in such reserve fund,  will  be  not  less

        S. 9528                            14
 
     1  than  the maximum amount of principal and interest maturing and becoming
     2  due in any succeeding calendar year on the bonds then to be  issued  and
     3  on all other bonds of the authority then outstanding and secured by such
     4  reserve fund.
     5    3. To assure the continued operation and solvency of the authority for
     6  the  carrying out of the public purposes of this title provision is made
     7  in subdivision one of this section for the  accumulation  in  each  debt
     8  service reserve fund of an amount equal to the maximum amount of princi-
     9  pal  and  interest  maturing and becoming due in any succeeding calendar
    10  year on all bonds of the authority then outstanding and secured by  such
    11  reserve  fund.   In order further to assure the maintenance of such debt
    12  service reserve funds, there shall be annually apportioned and  paid  to
    13  the authority for deposit in each debt service reserve fund such sum, if
    14  any, as shall be certified by the chair of the authority to the governor
    15  and  state  director  of the budget as necessary to restore such reserve
    16  fund to an amount equal to the maximum amount of principal and  interest
    17  maturing  and  becoming due in any succeeding calendar year on the bonds
    18  of the authority then outstanding and secured by such reserve fund.  The
    19  chair of the authority shall annually, on or before December first, make
    20  and  deliver  to the governor and state director of the budget a certif-
    21  icate stating the sum, if  any,  required  to  restore  each  such  debt
    22  service  reserve  fund  to  the amount aforesaid, and the sum or sums so
    23  certified, if any, shall be apportioned and paid to the authority during
    24  the then current state  fiscal  year.  The  principal  amount  of  bonds
    25  secured by a debt service reserve fund or funds to which state funds are
    26  apportionable pursuant to this subdivision shall be limited to the total
    27  amount  of  bonds  and  notes  outstanding on the effective date of this
    28  title, plus the total amount of bonds and  notes  contracted  after  the
    29  effective  date  of  this  title  to finance projects in progress on the
    30  effective date of this title as determined by the New York state  public
    31  authorities  control  board  created  pursuant  to section fifty of this
    32  chapter whose affirmative determination shall be conclusive  as  to  all
    33  matters  of  law  and  fact  solely  for the purposes of the limitations
    34  contained in this subdivision, but in no event shall the total amount of
    35  bonds so secured by such a debt service reserve  fund  or  funds  exceed
    36  nine  million six hundred sixty thousand dollars, excluding bonds issued
    37  to refund such outstanding bonds until the date of  redemption  of  such
    38  outstanding  bonds. As outstanding bonds so secured are paid, the amount
    39  so secured shall be reduced  accordingly  but  the  redemption  of  such
    40  outstanding  bonds from the proceeds of refunding bonds shall not reduce
    41  the amount so secured.
    42    4. All amounts paid over to the authority by the state pursuant to the
    43  provisions of this section shall constitute  and  be  accounted  for  as
    44  advances  by  the state to the authority and, subject only to the rights
    45  of the holders of any bonds or notes of  the  authority  theretofore  or
    46  thereafter issued, shall be repaid to the state from all available oper-
    47  ating  revenues  of the authority in excess of debt service reserve fund
    48  requirements and operating expenses.
    49    5. As used in this section, (a) the term  "operating  expenses"  shall
    50  mean  ordinary  expenditures  for  operation  and  administration of the
    51  authority, including maintenance, repair and  replacement  of  authority
    52  property; and (b) the term "available operating revenues" shall mean all
    53  amounts  received on account of rentals and fees charged by the authori-
    54  ty, if any, and income or interest earned  or  added  to  funds  of  the
    55  authority  due  to  the  investment  thereof, and not required under the
    56  terms or provisions of any covenant or agreement  with  holders  of  any

        S. 9528                            15
 
     1  bonds or notes of the authority to be applied to any purposes other than
     2  payment of operating expenses of the authority.
     3    §  1762.  Exemption from taxation of bonds and notes. The state coven-
     4  ants with the purchasers and with all subsequent holders and transferees
     5  of bonds and notes, in consideration of the acceptance  of  and  payment
     6  for  the bonds and notes, that the bonds and notes and the income there-
     7  from, and all moneys, funds and revenues pledged to pay  or  secure  the
     8  payment  of  such  bonds and notes shall at all times be free from taxa-
     9  tion, except for estate and gift taxes and taxes on transfers.
    10    § 1763. Bonds and notes legal investments for fiduciaries.  The  bonds
    11  and  notes  are  hereby made securities in which all public officers and
    12  bodies of the state and all municipalities and  municipal  subdivisions,
    13  all  insurance  companies and associations and other persons carrying on
    14  an insurance business, all  banks,  bankers,  trust  companies,  savings
    15  banks, savings associations, including savings and loan associations and
    16  building  and  loan associations, investment companies and other persons
    17  carrying on a banking business, all  administrators,  guardians,  execu-
    18  tors,  trustees  and other fiduciaries, and all other persons whatsoever
    19  who are now or who may hereafter be authorized to  invest  in  bonds  or
    20  other  obligations  of  the state, may properly and legally invest funds
    21  including capital in their control or belonging to them. Notwithstanding
    22  any other provisions of law, the bonds and notes of  the  authority  are
    23  also  hereby  made  securities  which  may  be deposited with and may be
    24  received by all public officers and bodies of this state and all munici-
    25  palities and municipal subdivisions for any purpose for which the depos-
    26  it of bonds or other obligations of the state is now or may hereafter be
    27  authorized.
    28    § 1764. Right of state to require redemption of bonds. Notwithstanding
    29  and in addition to any provisions for the redemption of bonds which  may
    30  be  contained  in  any contract with the holders of the bonds, the state
    31  may, upon furnishing sufficient funds therefor, require the authority to
    32  redeem, prior to maturity, as a whole, any issue of bonds on any  inter-
    33  est  payment date not less than twenty years after the date of the bonds
    34  of such issue at one hundred  five  percent  of  their  face  value  and
    35  accrued  interest  or at such lesser redemption price as may be provided
    36  in the bonds in case of the redemption thereof as a whole on the redemp-
    37  tion date. Notice of such redemption shall be published in at least  two
    38  newspapers published and circulating respectively in the cities of Alba-
    39  ny  and  New  York  at least twice, the first publication to be at least
    40  thirty days before the date of redemption.
    41    § 1765. Rights and remedies of bondholders and noteholders. The  hold-
    42  ers  of  bonds  and  notes shall have the following rights and remedies,
    43  subject to the terms of the resolution authorizing such bonds and  notes
    44  or  any  trust  indenture,  secured  loan  agreement or other instrument
    45  related thereto:
    46    1. In the event that the authority shall default  in  the  payment  of
    47  principal  of  or interest on any issue of bonds or notes after the same
    48  shall become due, whether at maturity or upon call for  redemption,  and
    49  such default shall continue for a period of thirty days, or in the event
    50  that the authority shall fail or refuse to comply with the provisions of
    51  this  title,  or  shall default in any contract made with the holders of
    52  any issue of bonds or notes, the holders of twenty-five  per  centum  in
    53  aggregate  principal  amount  of  the  bonds or notes of such issue then
    54  outstanding, by instrument or instruments filed in  the  office  of  the
    55  clerk  in  the county of Albany and approved or acknowledged in the same

        S. 9528                            16
 
     1  manner as a deed to be recorded, may appoint a trustee to represent  the
     2  holders of such bonds or notes for the purposes herein provided.
     3    2.  Such trustee may, and upon written request of the holders of twen-
     4  ty-five per centum in principal amount  of  such  bonds  or  notes  then
     5  outstanding shall, in such trustee's or its own name:
     6    (a)  by  suit, action or special proceeding, enforce all rights of the
     7  bondholders or noteholders, including the right to require the authority
     8  to collect fees, rentals and charges adequate to carry  out  any  agree-
     9  ments  with the holders of such bonds or notes and to perform its duties
    10  under this title;
    11    (b) bring suit upon such bonds or notes;
    12    (c) by action or suit in equity, require the authority to  account  as
    13  if it were the trustee of an express trust for the holders of such bonds
    14  or notes;
    15    (d) by action or suit in equity, enjoin any act or things which may be
    16  unlawful  or  in violation of the rights of the holders of such bonds or
    17  notes; and
    18    (e) declare all such bonds or  notes  due  and  payable,  and  if  all
    19  defaults  shall  be  made  good  then with the consent of the holders of
    20  twenty-five per centum of the principal amount of such  bonds  or  notes
    21  then outstanding, to annul such declaration and its consequences.
    22    3. Such trustee, whether or not the issuance of bonds or notes repres-
    23  ented  by such trustee had been declared due and payable, shall be enti-
    24  tled as of right to the appointment of a receiver of any property of the
    25  authority, the fees, rentals, charges or other  revenues  of  which  are
    26  pledged  for  the  security of the bonds or notes of such issue and such
    27  receiver may enter and take possession of such property, or any part  or
    28  parts  thereof  and  operate and maintain the same and receive all fees,
    29  charges, rentals and other revenues  thereafter  arising  therefrom  and
    30  exercise such other powers of the authority as the court may deem advis-
    31  able  and  perform  the  public  duties and carry out the agreements and
    32  obligations of the authority under the direction of the  court.  In  any
    33  suit,  action  or  proceeding  by the trustee the fees, counsel fees and
    34  expenses of the trustee and of the receiver, if  any,  shall  constitute
    35  taxable  disbursements  and  all  costs and disbursements allowed by the
    36  court shall be a first charge on any fees, charges,  rentals  and  other
    37  revenues derived from such properties.
    38    4.  Such  trustee  shall in addition to the foregoing have and possess
    39  all of the powers necessary or appropriate for the exercise of any func-
    40  tions specifically set forth herein or incident to the general represen-
    41  tation of bondholders or noteholders in the enforcement  and  protection
    42  of their rights.
    43    5.  The  supreme  court shall have jurisdiction of any suit, action or
    44  proceeding by the trustee on behalf of such bondholders or  noteholders.
    45  The  venue  of  any such suit, action or proceeding shall be laid in the
    46  county of Albany.
    47    6. Before declaring the principal of bonds or notes due  and  payable,
    48  the  trustee  shall  first  give  thirty  days' notice in writing to the
    49  governor, to the authority, to  the  comptroller  and  to  the  attorney
    50  general of the state.
    51    § 1766. State not liable on bonds and notes. The bonds and notes shall
    52  not  be  a  debt  of the state of New York nor shall the state be liable
    53  thereon and such bonds and notes shall contain on  the  face  thereof  a
    54  statement to that effect.
    55    §  4.  The  tax law is amended by adding a new article 29-E to read as
    56  follows:

        S. 9528                            17
 
     1                                 ARTICLE 29-E
     2                   FOR-HIRE VEHICLE IMPROVEMENT SURCHARGE
     3  Section 1299-aa. Definitions.
     4          1299-bb. Imposition of tax.
     5          1299-cc. Liability for surcharge.
     6          1299-dd. Returns and payment of surcharge.
     7          1299-ee. Records to be kept.
     8          1299-ff. Deposit and disposition of revenue.
     9    § 1299-aa. Definitions. As used or referred to in this article, unless
    10  a different meaning clearly appears from the context:
    11    (a)  "Person"  means  an  individual,  partnership,  limited liability
    12  company, society, association, joint stock company, corporation, estate,
    13  receiver, trustee, assignee, referee or any other  person  acting  in  a
    14  fiduciary  or  representative  capacity, whether appointed by a court or
    15  otherwise, any combination of individuals and any other form of unincor-
    16  porated enterprise owned or conducted by two or more persons.
    17    (b)   "Authority" means the  green  transition  authority  established
    18  pursuant  to  section seventeen hundred fifty-one of the public authori-
    19  ties law.
    20    (c) "For-hire vehicle" means any transportation network company  vehi-
    21  cle  ("TNC vehicle") as defined in section sixteen hundred ninety-one of
    22  the vehicle and traffic law and  any  for-hire  vehicle  as  defined  in
    23  section 19-502 of the administrative code of the city of New York.
    24    (d)  "For-hire transportation trip" means transportation provided in a
    25  for-hire vehicle as defined in subdivision  (c)  of  this  section,  for
    26  which a charge is made.
    27    (e)  "High-volume  for-hire  service"  shall  have the same meaning as
    28  defined in section 19-502 of the administrative code of the city of  New
    29  York.
    30    §  1299-bb.  Imposition  of tax.   (a) In addition to any other tax or
    31  assessment imposed by this chapter or other law, there is hereby imposed
    32  a surcharge   of  one  dollar  for  each  for-hire  transportation  trip
    33  conducted  in  a transportation network company vehicle or by a high-vo-
    34  lume for-hire service.
    35    (b) Receipts subject to tax under paragraph ten of subdivision (c)  of
    36  section  eleven  hundred five of this chapter shall be deemed to exclude
    37  any surcharge imposed by this article.
    38    § 1299-cc. Liability for surcharge. (a) Notwithstanding any  provision
    39  of law to the contrary, any person who dispatches a motor vehicle by any
    40  means  that  provides  transportation  that  is  subject  to a surcharge
    41  imposed by this article shall be liable for  the  surcharge  imposed  by
    42  this article.
    43    (b) Notwithstanding any law to the contrary: (1) The surcharge imposed
    44  by this article shall be passed along to passengers and separately stat-
    45  ed on any receipt that is provided to such passengers. The passing along
    46  of  such surcharge shall not be construed by any court or administrative
    47  body as the imposition of the surcharge on the  person  or  entity  that
    48  pays for the for-hire transportation trip. All regulatory agencies shall
    49  adjust  any  fares  that  are authorized by such agencies to include the
    50  surcharge imposed by this article and shall require that  any  meter  or
    51  other  instrument  used in any for-hire vehicle regulated by such agency
    52  to calculate fares be adjusted to include the surcharge.
    53    (2) Neither the failure of a regulatory agency to adjust fares nor the
    54  failure to adjust a meter or other instrument used in a for-hire vehicle
    55  to calculate fares shall relieve any person  liable  for  the  surcharge
    56  imposed by this article from the obligation to pay such surcharge.

        S. 9528                            18
 
     1    §  1299-dd.  Returns and payment of surcharge. (a) Every person liable
     2  for the surcharge imposed by this article shall file a return  with  the
     3  commissioner  on  a  monthly basis. Each return shall show the number of
     4  for-hire transportation trips subject to the surcharge imposed  by  this
     5  article  in  the  month  for  which the return is filed, along with such
     6  other information as the commissioner may require. The returns  required
     7  by  this  section shall be filed within twenty days after the end of the
     8  month covered thereby. If the commissioner deems it necessary to  ensure
     9  the  payment  of the surcharge imposed by this article, the commissioner
    10  may require returns to be made for shorter periods  than  prescribed  by
    11  the provisions of this section, and upon such dates as may be specified.
    12  The  form  of  returns shall be prescribed by the commissioner and shall
    13  contain such information as the commissioner may deem necessary for  the
    14  proper administration of this article. The commissioner may require that
    15  returns be filed electronically.
    16    (b)  Every  person  liable  for  the surcharge imposed by this article
    17  shall, at the time of filing such return, pay to  the  commissioner  the
    18  total amount of all surcharges due under this article. Such amount shall
    19  be  due  and  payable on the date specified for the filing of the return
    20  for such period, without regard to whether a return is filed, or whether
    21  the return that is filed correctly shows the correct number of  for-hire
    22  trips that are subject to the surcharge, or the correct surcharge amount
    23  due  thereon.  The  commissioner  may require that the surcharge be paid
    24  electronically.
    25    (c) In addition to any other penalty or interest  provided  for  under
    26  this  article  or other law, and unless it is shown that such failure is
    27  due to reasonable cause and not  due  to  willful  neglect,  any  person
    28  liable  for the surcharge imposed by this article that fails to pay such
    29  surcharge when due shall be liable for a penalty in an amount  equal  to
    30  two hundred percent of the total surcharge amount that is due.
    31    §  1299-ee. Records to be kept.  Every person liable for the surcharge
    32  imposed by this article shall keep, and shall make available for  review
    33  upon demand by the commissioner:
    34    (a)  records  of  every  trip  provided or arranged by such person, or
    35  provided through the use of a for-hire vehicle owned or leased  by  such
    36  person,  including  all  amounts  paid, charged, or due thereon, in such
    37  form as the commissioner may require;
    38    (b) true and complete copies of any records required to be kept by any
    39  applicable regulatory department or agency; and
    40    (c) such other records and information as the commissioner may require
    41  to perform their duties under this article.
    42    § 1299-ff. Deposit and disposition  of  revenue.  (a)  Any  surcharge,
    43  interest,  and penalties collected or received by the commissioner shall
    44  be deposited daily with such responsible banks, banking houses, or trust
    45  companies, as may be designated by the comptroller, to the credit of the
    46  comptroller in trust for the green transition authority. An account  may
    47  be  established in one or more of such depositories. Such deposits shall
    48  be kept separate and apart from all other money in the possession of the
    49  comptroller. The comptroller shall require adequate  security  from  all
    50  such depositories. Of the total revenue collected or received under this
    51  article,  the  comptroller  shall retain such amount as the commissioner
    52  may determine to be  necessary  for  refunds  under  this  article.  The
    53  commissioner  is  authorized and directed to deduct from the amounts the
    54  department receives under this article, before deposit  into  the  trust
    55  accounts designated by the comptroller, a reasonable amount necessary to
    56  effectuate  refunds of appropriations of the department to reimburse the

        S. 9528                            19
 
     1  department for the costs incurred to administer, collect and  distribute
     2  the surcharge, interest, and penalties imposed by this article.
     3    (b)  On  or before the twelfth day of each month, after reserving such
     4  amount for such refunds and deducting such amounts for  such  costs,  as
     5  provided  for in subdivision (a) of this section, the commissioner shall
     6  certify to the comptroller the amount of revenues so received during the
     7  prior month as a result of the surcharge,  interest,  and  penalties  so
     8  imposed.  Notwithstanding  any  provision  of law to the contrary, after
     9  deducting the amounts specified in this subdivision, the remaining funds
    10  collected shall be deposited by the comptroller, without  appropriation,
    11  into the green transition fund established pursuant to section seventeen
    12  hundred fifty-five of the public authorities law.
    13    §  5. The sum of ten million dollars ($10,000,000), or so much thereof
    14  as may be necessary, is hereby  appropriated  to  the  green  transition
    15  authority  from  any moneys in the state treasury in the general fund to
    16  the credit of the state purposes account not otherwise appropriated  for
    17  the purposes of carrying out the provisions of this act.  Such sum shall
    18  be payable on the audit and warrant of the state comptroller on vouchers
    19  certified or approved by the secretary of state or such secretary's duly
    20  designated representative in the manner provided by law.
    21    § 6. This act shall take effect immediately.
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