New York Assembly Bill A08857 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 8857  IN ASSEMBLY January 18, 2024 ___________ Introduced by M. of A. CARROLL -- 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 submission of a twenty-year capital needs assessment to the metropol- itan transportation authority capital program review board The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision c of section 1269-c of the public authorities 2 law, as added by section 1 of subpart E of part ZZZ of chapter 59 of the 3 laws of 2019, is amended to read as follows: 4 c. On or before October first, two thousand twenty-three, and on or 5 before October first of every fifth year thereafter, the authority shall 6 submit to the metropolitan transportation authority capital program 7 review board a twenty-year capital needs assessment. Such assessment 8 shall be adopted by not less than a majority vote of the whole number of 9 members of the authority then in office, except that in the event of a 10 tie vote the chairman shall cast one additional vote. Such assessment 11 shall begin with the period commencing January first, two thousand twen- 12 ty-five, and begin each assessment with every fifth year thereafter, and 13 describe capital investments over the succeeding twenty years. Such 14 assessment shall: (1) set forth broad long-term capital investments to 15 be made throughout the district, including at a minimum, identifying 16 specific non-binding cost estimates by element for the next five-year 17 period and total estimates by element over the full twenty-year period 18 necessary to: (i) achieve a state of good repair; (ii) maintain the 19 normal replacement of assets; (iii) improve the system; and (iv) expand 20 service; and (2) establish a non-binding basis to be used by the author- 21 ity in the planning of strategic investments involving capital elements 22 in its five-year capital plans. Such assessment shall not require a vote 23 of the metropolitan transportation authority capital program review 24 board and shall be for informational purposes only. For purposes of this 25 section, "broad long-term capital investments" shall include but not be 26 limited to: system rebuilding, enhancement, and expansion needs; agency 27 needs broken down by capital element or investment category; and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13759-02-4 
 A. 8857 2 1 projected future trends and network implications. Such assessment shall 2 be certified by the chairman of the authority and shall be entered into 3 the permanent record of the minutes of the review board. 4 § 2. This act shall take effect immediately.