S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2707
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2017
                                ___________
 
 Introduced  by  M. of A. FAHY -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the state finance law, in relation  to  the  funding  of
   public  transit  systems; and to repeal paragraph (c) of subdivision 5
   of section 88-a of the state finance law relating thereto

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (c) of subdivision 5 of section 88-a of the state
 finance  law is REPEALED and two new paragraphs (c) and (d) are added to
 read as follows:
   (C) NOTWITHSTANDING ANY LAW TO THE CONTRARY, THE COMPTROLLER IS HEREBY
 AUTHORIZED AND DIRECTED TO TRANSFER FROM THE GENERAL  FUND  FOR  DEPOSIT
 INTO  THE  PUBLIC TRANSPORTATION SYSTEM OPERATING ASSISTANCE ACCOUNT, ON
 OR BEFORE MARCH THIRTY-FIRST OF  EACH  YEAR,  AN  AMOUNT  EQUAL  TO  THE
 FOLLOWING:
   (I)  FOR THE STATE FISCAL YEAR ENDING MARCH THIRTY-FIRST, TWO THOUSAND
 EIGHTEEN, FIFTEEN MILLION DOLLARS;
   (II) IN EACH SUCCEEDING STATE FISCAL YEAR, THE  TRANSFER  SHALL  EQUAL
 THE  PRODUCT  OF TWO HUNDRED FIVE MILLION SIX HUNDRED FIFTY-TWO THOUSAND
 ONE HUNDRED DOLLARS AND ONE PLUS THE GROWTH FACTOR. FOR THE PURPOSES  OF
 THIS SUBPARAGRAPH, THE GROWTH FACTOR IS THE PERCENTAGE, IF ANY, BY WHICH
 THE  AGGREGATE  AMOUNT  OF  REVENUE  DEPOSITED  IN THE METROPOLITAN MASS
 TRANSPORTATION OPERATING ASSISTANCE ACCOUNT FOR THE TWELVE MONTH  PERIOD
 ENDING  ON  DECEMBER  THIRTY-FIRST OF THE IMMEDIATELY PRECEDING CALENDAR
 YEAR EXCEEDS THE AGGREGATE AMOUNT OF REVENUE DEPOSITED IN THE  METROPOL-
 ITAN  MASS  TRANSPORTATION  OPERATING  ASSISTANCE ACCOUNT FOR THE TWELVE
 MONTH PERIOD ENDING ON DECEMBER THIRTY-FIRST, TWO THOUSAND  FIFTEEN.  IN
 NO  YEAR WILL THE AMOUNT OF THE DEPOSIT AUTHORIZED UNDER THIS SECTION BE
 LESS THAN THE AMOUNT MADE IN THE PRIOR YEAR.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02666-01-7

              

 A. 2707                             2
 
   (D) ANY FINANCIAL SETTLEMENT FUNDS COLLECTED BY THE STATE ON OR  AFTER
 APRIL FIRST, TWO THOUSAND SEVENTEEN SHALL BE DEDICATED TO NEW YORK STATE
 UPSTATE AND DOWNSTATE TRANSIT SYSTEMS, AS FOLLOWS:
   (I)  TWO-THIRDS  OF SUCH FINANCIAL SETTLEMENT FUNDS SHALL BE ALLOCATED
 TO THE METROPOLITAN TRANSPORTATION AUTHORITY; AND
   (II) ONE-THIRD OF SUCH FINANCIAL SETTLEMENT FUNDS SHALL  BE  ALLOCATED
 FOR  UPSTATE  TRANSIT,  ROADS AND BRIDGES AND DOWNSTATE NON-METROPOLITAN
 TRANSPORTATION AUTHORITY TRANSIT SYSTEMS.
   § 2. This act shall take effect immediately.