S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 200--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by M. of A. BRENNAN, BRINDISI, CLARK, CRESPO, JACOBS, JAFFEE,
  SCHIMEL,  WEPRIN  -- Multi-Sponsored by -- M. of A. ABBATE, DenDEKKER,
  GLICK, ROBERTS, ROBINSON, ROSENTHAL, TITUS -- read once  and  referred
  to  the Committee on Ways and Means -- recommitted to the Committee on
  Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT authorizing the creation of a state debt to the  amount  of  four
  billion  five  hundred  million  dollars,  in relation to creating the
  Transportation Infrastructure Bond Act of 2014, to provide monies  for
  the  improvement,  enhancement,  preservation  and  restoration of the
  quality of the state's transportation  infrastructure,  and  providing
  for the submission to the people of a proposition or question therefor
  to be voted upon at the general election in November 2014

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The Transportation  Infrastructure  Bond  Act  of  2014  is
enacted to read as follows:
              TRANSPORTATION INFRASTRUCTURE BOND ACT OF 2014
Section 1. Short title.
        2. Creation of a state debt.
        3. Bonds of the state.
        4. Use of moneys received.
  Section 1. Short  title.  This  act shall be known and may be cited as
the "Transportation Infrastructure Bond Act of 2014".
  S 2. Creation of a state debt. The creation of  a  state  debt  to  an
amount  not exceeding in the aggregate four billion five hundred million
dollars ($4,500,000,000) is hereby authorized to provide moneys for  the
single  purpose  of  improving,  enhancing, preserving and restoring the
quality of the state's transportation infrastructure by the planning and

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD03767-02-4

A. 200--A                           2

design, construction, reconstruction, replacement, improvement, recondi-
tioning, rehabilitation and preservation, including the  acquisition  of
real  property and interests therein required or expected to be required
in connection therewith, of: state highways, bridges and parkways; high-
ways  and bridges either on or off the state highway system necessary or
reasonably expected to be necessary as a project component or incidental
to projects otherwise authorized by  this  act  involving  airports  and
aviation  facilities, the canal system and appurtenances thereto, ports,
and transit and rail projects; border crossing enhancements either on or
off the state highway system;  the  improvement  and/or  elimination  of
highway-railroad  grade  crossings  either  on  or off the state highway
system; moveable bridges that cross over the canal system; airports  and
aviation  facilities,  equipment and related projects exclusive of those
airports and facilities under the jurisdiction of the port authority  of
New  York and New Jersey or operated by the state of New York; the canal
system and appurtenances thereto; ports exclusive  of  those  under  the
jurisdiction  of  the  port authority of New York and New Jersey; marine
terminals and marine transportation facilities exclusive of those  under
the  jurisdiction  of  the  port  authority  of New York and New Jersey;
pedestrian and/or bicycle trails, pathways and bridges serving transpor-
tation needs; urban, commuter and  intercity  passenger  rail,  omnibus,
mass  transit  and  rapid  transit  systems,  facilities  and equipment,
including  acquisition;  freight  rail;  and  intermodal  passenger  and
freight  facilities and equipment, to achieve a more secure and reliable
transportation system for the inhabitants of the state.
  The legislature may, by appropriate legislation and  subject  to  such
conditions  as  it may impose, make available out of the proceeds of the
sale of bonds authorized in this act, moneys for state programs or state
grants to any city, county, town, village, public  benefit  corporation,
or  other public corporation or authority, or two or more of the forego-
ing acting jointly, for the single purpose of this act and/or  to  match
federal  funds which may from time to time be made available by congress
for such purpose.
  S 3. Bonds of the state. The state comptroller  is  hereby  authorized
and empowered to issue and sell bonds of the state to the amount of four
billion five hundred million dollars ($4,500,000,000) for the purpose of
this  act,  subject  to the provisions of article 5 of the state finance
law.  The aggregate principal amount of such bonds shall not exceed four
billion five hundred million dollars  ($4,500,000,000)  excluding  bonds
issued  to  refund  or  otherwise repay bonds heretofore issued for such
purpose; provided, however, that upon any such refunding  or  repayment,
the total aggregate principal amount of outstanding bonds may be greater
than  four billion five hundred million dollars ($4,500,000,000) only if
the present value of the aggregate debt  service  of  the  refunding  or
repayment  bonds  to be issued shall not exceed the present value of the
aggregate debt service of the bonds to be refunded or repaid. The method
for calculating present value shall be determined by law.
  S 4. Use of moneys received. The moneys received by the state from the
sale of bonds sold pursuant to this act shall be expended in the follow-
ing amounts, pursuant to annual appropriations:
  a. For the planning and design, construction, reconstruction, replace-
ment,  improvement,  reconditioning,  rehabilitation  and  preservation,
including  the  acquisition  of  real  property  and  interests  therein
required or expected to be required in connection therewith,  of:  state
highways, bridges and parkways; highways and bridges off the state high-
way system necessary or reasonably expected to be necessary as a project

A. 200--A                           3

component  or  incidental  to  projects otherwise authorized by this act
involving the canal system and appurtenances  thereto;  border  crossing
enhancements  either on or off the state highway system; the improvement
and/or  elimination of highway-railroad grade crossings either on or off
the state highway system; the canal system  and  appurtenances  thereto;
moveable bridges that cross over the canal system; and pedestrian and/or
bicycle  trails,  pathways and bridges serving transportation needs, two
billion twenty-five million dollars ($2,025,000,000); and
  b. For the planning and design, construction, reconstruction, replace-
ment,  improvement,  reconditioning,  rehabilitation  and  preservation,
including  the  acquisition  of  real  property  and  interests  therein
required or expected to be required in connection therewith, of:   high-
ways  and bridges either on or off the state highway system necessary or
reasonably expected to be necessary as a project component or incidental
to projects otherwise authorized by  this  act  involving  airports  and
aviation  facilities,  ports,  transit  and  rail projects; airports and
aviation facilities, equipment and related projects exclusive  of  those
airports  and facilities under the jurisdiction of the port authority of
New York and New Jersey or operated by the  state  of  New  York;  ports
exclusive  of  those under the jurisdiction of the port authority of New
York and New Jersey or  the  canal  corporation;  marine  terminals  and
marine  transportation facilities exclusive of those under the jurisdic-
tion of the port authority of New York  and  New  Jersey  or  the  canal
corporation; omnibus, mass transit and rapid transit systems, facilities
and  equipment,  including  acquisition,  exclusive of those operated or
acquired by or under the jurisdiction of the metropolitan transportation
authority and its subsidiaries, the New York city transit authority  and
its  subsidiaries and the Triborough bridge and tunnel authority; urban,
commuter and intercity passenger  rail,  freight  rail,  and  intermodal
passenger  and  freight  facilities  and equipment, including facilities
used jointly by commuter railroad companies and freight railroad  compa-
nies,  but  otherwise exclusive of those operated by or under the juris-
diction of the metropolitan transportation  authority  and  its  subsid-
iaries, the New York city transit authority and its subsidiaries and the
Triborough  bridge and tunnel authority, two hundred twenty-five million
dollars ($225,000,000);
  c. For the planning and design, construction, reconstruction, replace-
ment,  improvement,  reconditioning,  rehabilitation  and  preservation,
including  the  acquisition  of  real  property  and  interests  therein
required or expected to be required in connection  therewith,  of  urban
and commuter passenger and freight rail, omnibus, mass transit and rapid
transit  systems, facilities and equipment, including acquisition, oper-
ated or acquired by or under the jurisdiction of the metropolitan trans-
portation authority and its subsidiaries,  the  New  York  city  transit
authority  and  its  subsidiaries  and  the Triborough bridge and tunnel
authority,   two   billion   two   hundred   fifty    million    dollars
($2,250,000,000).
  S  2.  This  act  shall  take  effect  immediately,  provided that the
provisions of section one of this act shall not take effect  unless  and
until  this  act  shall have been submitted to the people at the general
election to be held in November 2014 and shall have been approved  by  a
majority  of  all  votes  cast for and against it at such election. Upon
approval by the people, section one of this act shall take effect  imme-
diately.  The  ballots  to  be  furnished  for  the  use  of voters upon
submission of this act shall be in the form prescribed by  the  election
law  and  the  proposition  or question to be submitted shall be printed

A. 200--A                           4

thereon in substantially the following form, namely "Shall chapter (here
insert the number of the chapter) of the  laws  of  2014  known  as  the
transportation infrastructure bond act of 2014, authorizing the creation
of state debt in the amount of four billion five hundred million dollars
($4,500,000,000)  to  provide  moneys  for the improvement, enhancement,
preservation and restoration of the quality of the  state's  transporta-
tion  infrastructure,  including  the state's highways, bridges, canals,
ports, airports, rail and transit systems, be approved?".