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

                                  9477

                          I N  A S S E M B L Y

                              March 5, 2012
                               ___________

Introduced  by  M.  of  A.  BRENNAN, BRINDISI, CLARK, CRESPO, DenDEKKER,
  JACOBS,  JAFFEE,  P. RIVERA,  ROSENTHAL,  SCHIMEL,  TITUS,  WEPRIN  --
  Multi-Sponsored  by -- M. of A.  ABBATE, GIBSON, GLICK, REILLY -- read
  once and referred to the Committee on Ways and Means

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 2013, 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 2013

  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  2013  is
enacted to read as follows:
              TRANSPORTATION INFRASTRUCTURE BOND ACT OF 2013
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 2013".
  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
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
              

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13507-03-2

A. 9477                             2

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
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,

A. 9477                             3

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 2013 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
thereon in substantially the following form, namely "Shall chapter (here
insert  the  number  of  the  chapter)  of the laws of 2013 known as the
transportation infrastructure bond act of 2013, 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?".