Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 07, 2016 |
referred to corporations, authorities and commissions delivered to assembly passed senate |
May 16, 2016 |
advanced to third reading |
May 11, 2016 |
2nd report cal. |
May 10, 2016 |
1st report cal.803 |
Mar 28, 2016 |
reported and committed to finance |
Jan 06, 2016 |
referred to corporations, authorities and commissions returned to senate died in assembly |
Jun 09, 2015 |
referred to corporations, authorities and commissions delivered to assembly passed senate |
Jun 03, 2015 |
amended on third reading (t) 691a |
Jun 01, 2015 |
advanced to third reading |
May 28, 2015 |
2nd report cal. |
May 27, 2015 |
1st report cal.890 |
Apr 27, 2015 |
reported and committed to finance |
Jan 07, 2015 |
referred to corporations, authorities and commissions |
Senate Bill S691A
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2015-S691 - Details
- See Assembly Version of this Bill:
- A502
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §2976, Pub Auth L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S6432, A9280
2013-2014: S3633, A1825
2017-2018: S229, A1007
2019-2020: S2786, A8036
2021-2022: S5845, A6796
2023-2024: S2872
2015-S691 - Sponsor Memo
BILL NUMBER: S691 TITLE OF BILL : An act to amend the public authorities law, in relation to exempting the metropolitan transportation authority from bond issuance charges PURPOSE : To exempt the MTA from bond issuance fees required under current law. SUMMARY OF PROVISIONS : Section one of the bill states the Legislative intent. Section two of the bill amends subdivision 4 of section 2976 of the Public Authorities Law is to exempt the MTA from the state bond issuance charge. Section three of the bill provides that this act shall take effect immediately. EXISTING LAW : Currently, bonds issued by the MTA are subject to the bond issuance charge imposed by Public Authorities Law section 2976.
2015-S691 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 691 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to exempting the metropolitan transportation authority from bond issuance charges THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative intent. In December 2010, the Metropolitan Transportation Authority (MTA) increased fares and tolls 7.5 percent and increased tolls again in March 2013 by an additional 7.5 percent, the costs of a monthly metrocard has gone up 32 percent since the current series of fare hikes commenced in 2008 and the MTA is scheduled to increase fares and tolls again in January 2015. In March 2015, the MTA plans to raise fares and tolls by 4 percent across the board. In 2017, the MTA plans to again raise fares and tolls another 4 percent. In addition, the MTA has cut services that have adversely impacted mass transit riders. Further the New York State office of the comptroller has found that for every 1 billion dollars the MTA borrows from the government, it would have to raise fares and tolls by 15 percent to make up the difference in costs. It is the intent of the legislature that the MTA use the savings that accrue from this act for maintenance and operations and to ensure that mass transit riders do not face any further service cuts. S 2. Subdivision 4 of section 2976 of the public authorities law, as added by section 12 of part E of chapter 494 of the laws of 2009, is amended to read as follows: 4. The provisions of subdivisions one and two of this section shall not apply TO BONDS ISSUED BY THE METROPOLITAN TRANSPORTATION AUTHORITY AND to recovery act bonds issued by the state of New York municipal bond bank agency in connection with local American Recovery and Reinvestment Act pursuant to section two thousand four hundred thirty-six-b of this chapter. S 3. This act shall take effect immediately.
2015-S691A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A502
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Amd §2976, Pub Auth L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S6432, A9280
2013-2014: S3633, A1825
2017-2018: S229, A1007
2019-2020: S2786, A8036
2021-2022: S5845, A6796
2023-2024: S2872
2015-S691A (ACTIVE) - Sponsor Memo
BILL NUMBER:S691A TITLE OF BILL: An act to amend the public authorities law, in relation to exempting certain public authorities from bond issuance charges PURPOSE: To exempt the MTA, the New York City Transit Authority, and the Triborough Bridge and Tunnel Authority from bond issuance fees, notes or other obligations required under current law. SUMMARY OF PROVISIONS: Section one of the bill amends subdivision 4 of section 2976 of the Public Authorities Law to exempt the MTA, the New York City Transit Authority, and the Triborough Bridge and Tunnel Authority from the state bond issuance charge, as well as notes or other obligations. Section two of the bill provides that this act shall take effect immediately. EXISTING LAW: Currently, bonds issued by the MTA are subject to the bond issuance charge imposed by Public Authorities Law section 2976. JUSTIFICATION: Recent fare and toll increases are adversely impacting the budgets working men and women. This proposal will reduce the cost of doing business for the MTA, the New York City Transit Authority,
2015-S691A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 691--A Cal. No. 890 2015-2016 Regular Sessions I N S E N A T E (PREFILED) January 7, 2015 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- reported favorably from said committee and commit- ted to the Committee on Finance -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the public authorities law, in relation to exempting certain public authorities from bond issuance charges THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 4 of section 2976 of the public authorities law, as added by section 12 of part E of chapter 494 of the laws of 2009, is amended to read as follows: 4. The provisions of subdivisions one and two of this section shall not apply TO BONDS, NOTES OR OTHER OBLIGATIONS ISSUED BY THE METROPOL- ITAN TRANSPORTATION AUTHORITY, AND THE NEW YORK CITY TRANSIT AUTHORITY, THE TRIBOROUGH BRIDGE AND TUNNEL AUTHORITY, AND to recovery act bonds issued by the state of New York municipal bond bank agency in connection with local American Recovery and Reinvestment Act pursuant to section two thousand four hundred thirty-six-b of this chapter. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00921-04-5
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