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A10680 Summary:

BILL NOA10680
 
SAME ASNo Same As
 
SPONSORRules (Weprin)
 
COSPNSR
 
MLTSPNSR
 
Amd §§1266 & 1270-h, Pub Auth L
 
Requires the metropolitan transportation authority to establish a marketing program to solicit corporate sponsorships for naming rights of transit facilities owned by the authority; directs revenues to be placed in the metropolitan transportation authority finance fund.
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A10680 Actions:

BILL NOA10680
 
08/28/2024referred to corporations, authorities and commissions
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A10680 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A10680
 
SPONSOR: Rules (Weprin)
  TITLE OF BILL: An act to amend the public authorities law, in relation to requiring the metropolitan transportation authority to establish a marketing program to solicit corporate sponsorships   PURPOSE OR GENERAL IDEA OF BILL: This legislation will direct the Metropolitan Transit Authority to create a marketing program to solicit corporate sponsorships for n aming rights for individual transit facilities. Any revenue received pursuant to this subdivision shall be deposited into the metropo litan transpor- tation authority finance fund to be used for capital projects and improvements.   SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends section 1266 of the public authorities' law by adding a new subdivision 5-a to direct the Metropolitan Transportatio n Authority to establish a marketing program to solicit corporate sponsorships. Section 2 amends subdivision 2 of section 1270-h of the public authori- ties law is amended to direct any revenue generated from the ma rketing program established pursuant to subdivision to the metropolitan trans- portation finance fund. Section 3 is the effective date.   JUSTIFICATION: There is a dire need to update and expand the transit infrastructure in New York. Investments in the region's subways, buses, and com muter railroads are necessary to create a faster, more accessible, and more reliable public'transportation system. A consistent source of revenue is required in order to fund these improvements. This legislation would establish a marketing program in which the Metro- politan Transit Authority (MTA) would sell corporate sponsorsh ips of subway and train stations, along with bus stops, for a contracted amount of time. In return, the sponsoring group would get si gnage, local recognition, and a sense of community pride. By having a marketing program, the MTA would receive bids from corporate sponsors and sell them for naming rights. Citi Field sold na ming rights to Citigroup Inc., the parent company of CitiBank to create additional revenue. Selling naming rights to corporate sponso rs is not a new idea and it will not impose any new costs on the public.   PRIOR LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS: None   FOR STATE AND LOCAL GOVERNMENTS: None   EFFECTIVE DATE: Immediately.
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A10680 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10680
 
                   IN ASSEMBLY
 
                                     August 28, 2024
                                       ___________
 
        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weprin) --
          read once and referred to the Committee on  Corporations,  Authorities
          and Commissions
 
        AN ACT to amend the public authorities law, in relation to requiring the
          metropolitan transportation authority to establish a marketing program
          to solicit corporate sponsorships

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 1266 of the public authorities law  is  amended  by
     2  adding a new subdivision 5-a to read as follows:
     3    5-a.  (a) The authority shall establish a marketing program to solicit
     4  corporate sponsorships. Such marketing program shall allow  corporations
     5  to bid on naming rights for individual transit facilities of the author-
     6  ity  used for service in the transportation of passengers, United States
     7  mail or personal property as a common carrier for  hire  located  within
     8  the  metropolitan  commuter transportation district. The authority shall
     9  have discretion to accept bids and contract for  corporate  sponsorships
    10  as it deems necessary.
    11    (b) Any revenue received by the authority pursuant to this subdivision
    12  shall  be  deposited  into  the  metropolitan  transportation  authority
    13  finance fund pursuant to section twelve hundred seventy-h of this title.
    14    § 2. Subdivision 2 of section 1270-h of the public authorities law, as
    15  amended by section 13 of part UU of chapter 59 of the laws of  2018,  is
    16  amended to read as follows:
    17    2.  The comptroller shall deposit into the metropolitan transportation
    18  authority finance fund  (a)  monthly,  pursuant  to  appropriation,  the
    19  moneys  deposited  in the mobility tax trust account of the metropolitan
    20  transportation authority  financial  assistance  fund  pursuant  to  any
    21  provision  of  law directing or permitting the deposit of moneys in such
    22  fund, [and] (b) without  appropriation,  the  revenue  including  taxes,
    23  interest and penalties collected in accordance with article twenty-three
    24  of the tax law, and (c) any revenue generated from the marketing program
    25  established  pursuant  to  subdivision  five-a of section twelve hundred
    26  sixty-six of this title.
    27    § 3. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15908-02-4
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