STATE OF NEW YORK
________________________________________________________________________
2550
2019-2020 Regular Sessions
IN ASSEMBLY
January 23, 2019
___________
Introduced by M. of A. FAHY -- read once and referred to the Committee
on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to exempting the
Capital District transportation authority from bond issuance charges
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Legislative intent. Over the past several years, while
2 support of mass transit in the greater metropolitan area of the city of
3 New York has expanded, state support for regional transit in the greater
4 Capital District area has not seen similar support. This lack of support
5 has adversely impacted mass transit riders in the greater Capital
6 District region serviced by the Capital District transportation authori-
7 ty (CDTA). It is the intent of the legislature that the CDTA use the
8 savings that accrue from this act for maintenance and operations and to
9 ensure that mass transit riders do not face any further service cuts.
10 § 2. Subdivision 4 of section 2976 of the public authorities law, as
11 added by section 12 of part E of chapter 494 of the laws of 2009, is
12 amended to read as follows:
13 4. The provisions of subdivisions one and two of this section shall
14 not apply to bonds issued by the Capital District transportation author-
15 ity and to recovery act bonds issued by the state of New York municipal
16 bond bank agency in connection with local American Recovery and Rein-
17 vestment Act pursuant to section two thousand four hundred thirty-six-b
18 of this chapter.
19 § 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01016-01-9
