New York S 5578: Extends Clinton county's authorization to impose an additional rate of sales and compensating use tax

Bill Text

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S05578 Summary:

BILL NOS05578 

&nbsp

SAME ASNo Same As

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SPONSORLANZA

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COSPNSR

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MLTSPNSR

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Amd §1219-a, Pub Auth L

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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.

Go to top S05578 Actions:

BILL NOS05578 

&nbsp

02/25/2025REFERRED TO TRANSPORTATION

01/07/2026REFERRED TO TRANSPORTATION

Go to topS05578 Committee&nbspVotes:

Go to topS05578 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05578 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5578

 2025-2026 Regular Sessions

 IN SENATE

 February 25, 2025
 ___________

 Introduced by Sen. LANZA -- read twice and ordered printed, and when
 printed to be committed to the Committee on Transportation

 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:

 1 Section 1. Paragraph (b) of subdivision 2 of section 1219-a of the
 2 public authorities law, as amended by section 19 of part O of chapter 61
 3 of the laws of 2000, is amended to read as follows:
 4 (b) Promptly upon the making of the certification of its operating
 5 surplus, if any, for its fiscal year ending December thirty-first, nine-
 6 teen hundred seventy-two and for each of its subsequent fiscal years,
 7 triborough bridge and tunnel authority, at the direction of metropolitan
 8 transportation authority, shall transfer such operating surplus (1) to
 9 the metropolitan transportation authority for deposit into one or more
 10 funds or accounts to be used as contemplated by section twelve hundred
 11 seventy-d of this article, or (2) to the authority and the metropolitan
 12 transportation authority solely for application to the payment of the
 13 expenses of operation. For purposes of determining the proportional
 14 allocation of the operating surplus as between the authority and the
 15 metropolitan transportation authority, the following formula shall
 16 apply: (i) twenty-four million dollars plus [fifty] seventy-five percen-
 17 tum of the balance of such operating surplus shall be allocable to the
 18 authority, and (ii) the remainder shall be allocable to metropolitan
 19 transportation authority on behalf of the commuter railroads operated by
 20 it, by its subsidiary corporations or by others under joint arrange-
 21 ments.
 22 § 2. This act shall take effect on the sixtieth day after it shall
 23 have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09655-01-5

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