S 5060 NY

0likes☆Favorite🔕SubscribeShare

Skip to main content

New York State Assembly Speaker Carl E. Heastie

--> --> -->

Assembly Members

Legislative Info

Public Hearings

Speaker's Press

Assembly Reports

Committees & More

Bill Search Home Laws Legislative Calendar Public Hearing Schedule Assembly Calendars Assembly Committee Agenda Javascript must be enabled to properly view this page.

Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S05060 Summary: BILL NO S05060 &nbsp SAME AS SAME AS A03908

&nbsp SPONSOR SEPULVEDA &nbsp COSPNSR BORRELLO, COONEY &nbsp MLTSPNSR &nbsp Add §233, Ec Dev L; add §88-e, St Fin L &nbsp Establishes a public transportation expansion fund for the purpose of ensuring access to public transportation for publicly funded economic development projects.

Go to top S05060 Text:

STATE OF NEW YORK ________________________________________________________________________

5060

2025-2026 Regular Sessions

IN SENATE

February 18, 2025 ___________

Introduced by Sens. SEPULVEDA, BORRELLO, COONEY -- read twice and ordered printed, and when printed to be committed to the Committee on Commerce, Economic Development and Small Business

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

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05658-01-5

S. 5060 2

1 through the urban development corporation, federal economic development 2 administration, the United States department of commerce, municipal 3 industrial development agencies, or any other political subdivision of 4 municipal, state, or federal government. 5 5. The commissioner, in conjunction with the commissioner of transpor- 6 tation, shall promulgate rules and regulations necessary for the imple- 7 mentation of this section. 8 § 3. The state finance law is amended by adding a new section 88-e to 9 read as follows: 10 § 88-e. Public transportation expansion fund. 1. There is hereby 11 established in the joint custody of the commissioner of taxation and 12 finance and the state comptroller a special fund to be known as the 13 "public transportation expansion fund". 14 2. The public transportation expansion fund shall consist of all 15 moneys appropriated thereto from any other fund or source pursuant to 16 law. Nothing contained in this section shall prevent the state from 17 receiving grants, gifts or bequests for the purposes of the fund as 18 defined in this section and depositing them into the fund according to 19 law. 20 3. Moneys within the public transportation expansion fund shall be 21 made available to the commissioner of economic development and the 22 commissioner of transportation for the purpose of ensuring access to 23 public transportation for publicly funded economic development projects 24 pursuant to the provisions of section two hundred thirty-three of the 25 economic development law. 26 § 4. This act shall take effect immediately.

Go to top

Sitemap

Request Information

Directions and Maps