Requires a certain amount of revenue collected from the Verrazano-Narrows bridge tolls to match the Staten Island rapid transit operating authority annual revenue prior and separate to any share in the MTA surplus to be transferred to both the SIRTOA and the Staten Island Ferry for improvements in and expansion of service.
STATE OF NEW YORK
________________________________________________________________________
6171
2015-2016 Regular Sessions
IN ASSEMBLY
March 16, 2015
___________
Introduced by M. of A. BORELLI -- read once and referred to the Commit-
tee on Corporations, Authorities and Commissions
AN ACT to authorize the metropolitan transit authority to enter into an
agreement to transfer certain funds of the triborough bridge and
tunnel authority to the Staten Island rapid transit operating authori-
ty and the Staten Island ferry for the purpose of service expansion
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. 1. Notwithstanding any laws, rules or regulations to the
2 contrary, and subject to the rights of the holders of any outstanding
3 bonds, notes or other obligations of the authorities, the metropolitan
4 transit authority is hereby authorized and directed to enter into an
5 agreement between the triborough bridge and tunnel authority, the Staten
6 Island rapid transit operating authority and the commissioner of trans-
7 portation of the city of New York on behalf of the Staten Island ferry
8 service. Such agreement shall consist of a transfer of revenues, subsi-
9 dies and other monies and securities from the triborough bridge and
10 tunnel authority to the Staten Island ferry service, as provided in
11 section 19-305 of the administrative code of the city of New York and
12 the Staten Island rapid transit operating authority. Each shall receive
13 a sum equal to the total amount of revenue collected from ridership
14 fares by the Staten Island rapid transit operations authority in the
15 immediately preceding year. The Staten Island rapid transit operating
16 authority and the department of transportation of the city of New York
17 shall keep such funds separate from all other such authority or depart-
18 ment funds and use such funds to expand and increase the efficiency of
19 the existing railroad or ferry service in order to reduce motor vehicle
20 congestion on the Verrazano-Narrows bridge.
21 2. Such agreement shall be executed within six months of the effective
22 date of this act.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05841-01-5
A. 6171 2
1 3. The agreement and transfer of revenue provided for in section one
2 of this act shall not affect the percentage, amount or share of any
3 surplus revenue distributed by the metropolitan transit authority to the
4 Staten Island rapid transit operating authority, pursuant to section
5 1277-a of the public authorities law.
6 § 2. This act shall take effect immediately.
