New York Assembly Bill A09225 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 9225  IN ASSEMBLY February 16, 2024 ___________ Introduced by M. of A. BRONSON -- read once and referred to the Commit- tee on Economic Development AN ACT to amend the economic development law and the state finance law, in relation to establishing a public transportation expansion fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Short title. This act shall be known and may be cited as 2 the "public transportation expansion fund act". 3 § 2. The economic development law is amended by adding a new section 4 233 to read as follows: 5 § 233. Public transportation and infrastructure. 1. The commissioner, 6 in conjunction with the commissioner of transportation, shall develop 7 and jointly administer the public transportation expansion fund, as 8 established pursuant to section eighty-eight-e of the state finance law, 9 for the purpose of ensuring access to public transportation for publicly 10 funded economic development projects. 11 2. Eligibility shall be limited to transportation authorities in each 12 economic development region incorporated under titles eleven-A through 13 eleven-D, inclusive of article five of the public authorities law. 14 3. Each transportation authority shall be eligible for up to five 15 million dollars per fiscal year for the purposes of establishing new 16 transit service to economic development projects, including improvements 17 to authority, transportation, and omnibus facilities, purchase of equip- 18 ment, purchase of real property, and other capital and operating 19 expenses as jointly defined by the department of transportation and the 20 New York state urban development corporation, subject to annual appro- 21 priations and other funding authorized or made available for such 22 purposes. 23 4. As used in this section, "publicly funded economic development 24 project" means a project receiving funding, tax credits, or incentives 25 through the urban development corporation, federal economic development 26 administration, the United States department of commerce, municipal 27 industrial development agencies, or any other political subdivision of 28 municipal, state, or federal government. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14412-01-4 
 A. 9225 2 1 5. The commissioner, in conjunction with the commissioner of transpor- 2 tation, shall promulgate rules and regulations necessary for the imple- 3 mentation of this section. 4 § 3. The state finance law is amended by adding a new section 88-e to 5 read as follows: 6 § 88-e. Public transportation expansion fund. 1. There is hereby 7 established in the joint custody of the commissioner of taxation and 8 finance and the state comptroller a special fund to be known as the 9 "public transportation expansion fund". 10 2. The public transportation expansion fund shall consist of all 11 moneys appropriated thereto from any other fund or source pursuant to 12 law. Nothing contained in this section shall prevent the state from 13 receiving grants, gifts or bequests for the purposes of the fund as 14 defined in this section and depositing them into the fund according to 15 law. 16 3. Moneys within the public transportation expansion fund shall be 17 made available to the commissioner of economic development and the 18 commissioner of transportation for the purpose of ensuring access to 19 public transportation for publicly funded economic development projects 20 pursuant to the provisions of section two hundred thirty-three of the 21 economic development law. 22 § 4. This act shall take effect immediately.