NY Pub Auth L § 553-J (2021)
2021 New York Laws PBA - Public Authorities Article 3 - Bridge and Tunnel Authorities Title 3 - Triborough Bridge Authority 553-J - Additional Powers and Provisions in Relation to Central Business District Tolling Program.

§  553-j.  Additional  powers  and  provisions  in relation to central   business district tolling program. 1. The authority  shall  establish  a   fund  to  be  known  as  the  central  business district tolling capital   lockbox fund which  shall  be  kept  separate  from  and  shall  not  be   commingled  with  any  other  monies  of  the  authority. The fund shall   consist of all monies received by  the  authority  pursuant  to  article   forty-four-C  of  the  vehicle  and traffic law, subdivision twelve-a of   section five hundred fifty-three of this title, and revenues of the real   estate transfer tax deposited pursuant to  subdivision  (b)  of  section   fourteen  hundred  twenty-one  of the tax law, and sales tax pursuant to   subdivision (c) of section eleven hundred forty-eight of  the  tax  law,   subparagraph  (B) of paragraph five of subdivision (c) of section twelve   hundred sixty-one of the  tax  law,  and  funds  appropriated  from  the   central  business  district  trust  fund established pursuant to section   ninty-nine-ff of the state finance law.* 2. Monies in the fund shall be applied, subject to  agreements  with   bondholders  and  applicable  federal  law, to the payment of operating,   administration, and other necessary expenses of the authority, or to the   city of New York subject to the  memorandum  of  understanding  executed   pursuant  to  subdivision two-a of section seventeen hundred four of the   vehicle and traffic law properly allocable to  such  program,  including   the  planning, designing, constructing, installing or maintaining of the   central  business   district   tolling   program,   including,   without   limitation,  the  central  business district tolling infrastructure, the   central business district tolling  collection  system  and  the  central   business  district tolling customer service center, and the costs of any   metropolitan transportation authority capital projects  included  within   the  2020  to 2024 MTA capital program or any successor programs. Monies   in the fund may be: (a) pledged  by  the  authority  to  secure  and  be   applied  to  the payment of the bonds, notes or other obligations of the   authority to finance the costs of the central business district  tolling   program,  including,  without  limitation, the central business district   tolling infrastructure, the central business district tolling collection   system and  the  central  business  district  tolling  customer  service   center,  and  the  costs  of  any  metropolitan transportation authority   capital projects included within the 2020 to 2024 MTA capital program or   any successor programs, including debt service, reserve requirements, if   any, the payment of amounts required under bond and note  facilities  or   agreements  related  thereto,  the  payment of federal government loans,   security or credit arrangements or other agreements related thereto;  or   (b)  used  by the authority for the payment of such capital costs of the   central  business  district  tolling  program  and  the  costs  of   any   metropolitan  transportation  authority capital projects included within   the 2020 to 2024 MTA capital program or any successor programs;  or  (c)   transferred to the metropolitan transportation authority and (1) pledged   by the metropolitan transportation authority to secure and be applied to   the payment of the bonds, notes or other obligations of the metropolitan   transportation  authority  to  finance  the  costs  of  any metropolitan   transportation authority capital projects included within  the  2020  to   2024  MTA  capital  program  or  any  successor programs, including debt   service, reserve requirements, if any, the payment of  amounts  required   under  bond  and  note  facilities  or  agreements  related thereto, the   payment of federal government loans, security or credit arrangements  or   other  agreements  related  thereto,  or  (2)  used  by the metropolitan   transportation  authority  for  the  payment  of  the   costs   of   any   metropolitan  transportation  authority capital projects included within   the 2020 to 2024 MTA capital program or any successor programs,  or  (3)   subject  to  approval  by  the  board of the metropolitan transportation    authority and the director of  the  budget,  used  by  the  metropolitan   transportation  authority  in  all  or  any  of  the fiscal years of the   authority beginning in 2020 through 2021 to offset decreases in revenue,   including  but  not  limited  to,  lost  taxes, fees, charges, fares and   tolls, due in whole or in part, or increases in operating costs  due  in   whole  to  the state disaster emergency caused by the novel coronavirus,   COVID-19. Such revenues shall only supplement and shall not supplant any   federal, state,  or  local  funds  expended  by  the  authority  or  the   metropolitan   transportation   authority,   or   such   authority's  or   metropolitan transportation authority's affiliates or  subsidiaries  for   such respective purposes. Central business district toll revenues may be   used  as  required to obtain, utilize, or maintain federal authorization   to collect tolls on federal aid highways. Provided further that, in  the   event  the  authority  or metropolitan transportation authority receives   funds or reimbursements, including without limitation from  the  federal   government  or  insurance  maintained  by  the authority or metropolitan   transportation  authority,  due  in  whole  or  in  part  to  the  novel   coronavirus, COVID-19, any monies from the fund used to offset decreases   in  revenue  or  increases in operating costs due in whole or in part to   the state disaster emergency caused by the novel coronavirus,  COVID-19,   shall  be  repaid after the authority or the metropolitan transportation   authority fully repays any public or private borrowings,  draws  on  any   lines  of  credit, issuances of revenue anticipation notes, any internal   loans, and use of corpus of OPEB Trust to pay current retiree healthcare   cost necessitated by COVID-19  revenue  shortfall.  Such  obligation  to   repay shall be limited to the availability of any excess monies, and any   such  funds  or  reimbursements in excess of the amounts needed to fully   repay such amounts shall be transferred to the fund  and  used  for  the   purposes originally intended for such fund.* NB Effective until April 3, 2022* 2.  Monies  in the fund shall be applied, subject to agreements with   bondholders and applicable federal law, to  the  payment  of  operating,   administration, and other necessary expenses of the authority, or to the   city  of  New  York  subject to the memorandum of understanding executed   pursuant to subdivision two-a of section seventeen hundred four  of  the   vehicle  and  traffic  law properly allocable to such program, including   the planning, designing, constructing, installing or maintaining of  the   central   business   district   tolling   program,   including,  without   limitation, the central business district  tolling  infrastructure,  the   central  business  district  tolling  collection  system and the central   business district tolling customer service center, and the costs of  any   metropolitan  transportation  authority capital projects included within   the 2020 to 2024 MTA capital program or any successor  programs.  Monies   in  the  fund  may  be:  (a)  pledged  by the authority to secure and be   applied to the payment of the bonds, notes or other obligations  of  the   authority  to finance the costs of the central business district tolling   program, including, without limitation, the  central  business  district   tolling infrastructure, the central business district tolling collection   system  and  the  central  business  district  tolling  customer service   center, and the  costs  of  any  metropolitan  transportation  authority   capital projects included within the 2020 to 2024 MTA capital program or   any successor programs, including debt service, reserve requirements, if   any,  the  payment of amounts required under bond and note facilities or   agreements related thereto, the payment  of  federal  government  loans,   security  or credit arrangements or other agreements related thereto; or   (b) used by the authority for the payment of such capital costs  of  the   central   business  district  tolling  program  and  the  costs  of  any   metropolitan transportation authority capital projects  included  within    the  2020  to 2024 MTA capital program or any successor programs; or (c)   transferred to the metropolitan transportation authority and (1) pledged   by the metropolitan transportation authority to secure and be applied to   the payment of the bonds, notes or other obligations of the metropolitan   transportation  authority  to  finance  the  costs  of  any metropolitan   transportation authority capital projects included within  the  2020  to   2024  MTA  capital  program  or  any  successor programs, including debt   service, reserve requirements, if any, the payment of  amounts  required   under  bond  and  note  facilities  or  agreements  related thereto, the   payment of federal government loans, security or credit arrangements  or   other  agreements  related  thereto,  or  (2)  used  by the metropolitan   transportation  authority  for  the  payment  of  the   costs   of   any   metropolitan  transportation  authority capital projects included within   the 2020 to 2024 MTA capital program or  any  successor  programs.  Such   revenues  shall  only  supplement  and  shall  not supplant any federal,   state, or local funds expended by  the  authority  or  the  metropolitan   transportation   authority,   or   such   authority's   or  metropolitan   transportation  authority's  affiliates   or   subsidiaries   for   such   respective purposes. Central business district toll revenues may be used   as  required  to  obtain,  utilize, or maintain federal authorization to   collect tolls on federal aid highways.* NB Effective April 3, 20223. Any monies deposited in the fund shall be held in the fund free and   clear of any claim by any person arising out of or  in  connection  with   article  forty-four-C  of  the  vehicle  and traffic law and subdivision   twelve-a of section five hundred  fifty-three  of  this  title.  Without   limiting  the  generality  of the foregoing, no person paying any amount   that is deposited into the fund shall have any right  or  claim  against   the authority or the metropolitan transportation authority, any of their   bondholders,  any  of the authority's or the metropolitan transportation   authority's subsidiaries or affiliates to any monies in  or  distributed   from the fund or in respect of a refund, rebate, credit or reimbursement   of  monies  arising out of or in connection with article forty-four-C of   the vehicle and traffic law and subdivision  twelve-a  of  section  five   hundred fifty-three of this title.3-a.  Of  the  capital project costs paid by this fund: eighty percent   shall be capital project costs of the New York  city  transit  authority   and its subsidiary, Staten Island Rapid Transit Operating Authority, and   MTA  Bus  with  priority  given to the subway system, new signaling, new   subway cars, track and car repair, accessibility, buses and  bus  system   improvements  and  further investments in expanding transit availability   to areas in the outer boroughs that have limited mass  transit  options;   ten percent shall be capital project costs of the Long Island Rail Road,   including  but  not  limited  to,  parking  facilities,  rolling  stock,   capacity enhancements, accessibility, and expanding transit availability   to areas in the Metropolitan Commuter Transportation District that  have   limited  mass  transit options; and ten percent shall be capital project   costs of the Metro-North Commuter Railroad Company,  including  but  not   limited  to,  parking  facilities, rolling stock, capacity enhancements,   accessibility, and  expanding  transit  availability  to  areas  in  the   Metropolitan  Commuter  Transportation  District  that have limited mass   transit options.* 4.  The  authority  shall  report  annually  on  all  receipts   and   expenditures  of the fund. The report shall detail operating expenses of   the central business district tolling program and all fund  expenditures   including  capital  projects.  If,  during the period of the report, any   monies in the fund were  used  by  the  authority  or  the  metropolitan   transportation authority to offset decreases in revenue lost in whole or    in part due to the state disaster emergency caused by novel coronavirus,   COVID-19,  or  increases  in  operating  costs in whole due to the novel   coronavirus, COVID-19, the report shall also  provide:  (a)  details  of   such  decreases  in  revenue  in whole, (b) details of such decreases in   revenue in part, (c)  details  of  such  increases  in  costs,  (d)  the   methodology   used  by  the  authority  or  metropolitan  transportation   authority to calculate such changes, and (e) explanation for attributing   a particular increase in cost or a particular decrease  in  revenue,  to   the state disaster emergency caused by coronavirus, COVID-19. The report   shall  be  readily  available  to the public, and shall be posted on the   authority's website and be submitted  to  the  governor,  the  temporary   president  of  the senate, the speaker of the assembly, the comptroller,   the director of the budget, the mayor and council of  the  city  of  New   York,   the   metropolitan   transportation  authority  board,  and  the   metropolitan transportation authority capital program review board.* NB Effective until April 3, 2022* 4.  The  authority  shall  report  annually  on  all  receipts   and   expenditures  of the fund. The report shall detail operating expenses of   the central business district tolling program and all fund  expenditures   including capital projects. The report shall be readily available to the   public,  and shall be posted on the authority's website and be submitted   to the governor, the temporary president of the senate, the  speaker  of   the  assembly,  the  mayor  and  council  of  the  city of New York, the   metropolitan  transportation  authority  board,  and  the   metropolitan   transportation authority capital program review board.* NB Effective April 3, 20225.  Any  operating funding used for the purposes of a central business   district tolling program from this fund shall be approved, annually,  in   a plan of expenditures, by the director of the budget.