Assembly Bill A3769

2017-2018 Legislative Session

Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transportation authority

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Archive: Last Bill Status - Stricken

  • 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

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2017-A3769 (ACTIVE) - Details

See Senate Version of this Bill:
S6223
Law Section:
Public Authorities Law
Laws Affected:
Amd §1219-a, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A7319
2011-2012: A5781, A10001, S4814
2013-2014: A3127, S3614
2015-2016: A1899, S3351
2019-2020: S2624
2021-2022: S4910
2023-2024: S4120

2017-A3769 (ACTIVE) - Summary

Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transit authority where previously the split was 50-50.

2017-A3769 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3769
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 30, 2017
                                ___________
 
 Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
   tee on Corporations, Authorities and Commissions
 
 AN  ACT  to amend the public authorities law, in relation to the formula
   for New York city transit authority operating surplus revenue
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (b)  of subdivision 2 of section 1219-a of the
 public authorities law, as amended by section 19 of part O of chapter 61
 of the laws of 2000, is amended to read as follows:
   (b) Promptly upon the making of the  certification  of  its  operating
 surplus, if any, for its fiscal year ending December thirty-first, nine-
 teen  hundred  seventy-two  and for each of its subsequent fiscal years,
 triborough bridge and tunnel authority, at the direction of metropolitan
 transportation authority, shall transfer such operating surplus  (1)  to
 the  metropolitan  transportation authority for deposit into one or more
 funds or accounts to be used as contemplated by section  twelve  hundred
 seventy-d  of this article, or (2) to the authority and the metropolitan
 transportation authority solely for application to the  payment  of  the
 expenses  of  operation.  For  purposes  of determining the proportional
 allocation of the operating surplus as between  the  authority  and  the
 metropolitan  transportation  authority,  the  following  formula  shall
 apply: (i) twenty-four million dollars plus [fifty] SEVENTY-FIVE percen-
 tum of the balance of such operating surplus shall be allocable  to  the
 authority,  and  (ii)  the  remainder shall be allocable to metropolitan
 transportation authority on behalf of the commuter railroads operated by
 it, by its subsidiary corporations or by  others  under  joint  arrange-
 ments.
   §  2.  This  act  shall take effect on the sixtieth day after it shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07558-01-7

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