NY Pub Auth L § 2804 (2021)
2021 New York Laws PBA - Public Authorities Article 9 - General Provisions Title 1 - Reports by Public Authorities 2804 - Financial Disclosure by Public Authorities or Commissions Prior to Toll or Fare Increase.

§  2804.  Financial  disclosure  by  public authorities or commissions prior to toll or fare increase.  (1)  Notwithstanding  any  inconsistent provision of this chapter or of any other general, special or local law, every  authority  or  commission  heretofore  or  hereafter continued or created by this chapter, except those excluded  from  the  operation  of this  section  by  subdivision  four,  having jurisdiction over highway, bridge or tunnel facilities shall submit to the  governor,  comptroller, chairman  of the senate finance committee, chairman of the assembly ways and means  committee  and  ranking  minority  member  of  each  of  such committees,  not less than one hundred twenty days prior to the proposed date of any future increase in fees, tolls or other charges for the  use of  any  such highway, bridge or tunnel facilities, or the imposition of tolls or fees at such a location which is toll or fee free,  a  detailed report  setting forth: (a) the need for such increase or imposition; (b) its receipts and disbursements, or revenues  and  expenses,  during  the prior  three  fiscal  years,  or  so much thereof as it may have been in existence,  in  accordance  with  the  categories   or   classifications established  by  such  authority or commission for its own operating and capital outlay purposes; (c) its assets and liabilities at  the  end  of its  last  fiscal  year  including  the status of reserve, depreciation, special or other funds and including the receipts and payments of  these funds;  (d)  a schedule of bonds and notes outstanding at the end of its fiscal year and their redemption dates, together with a statement of the amounts redeemed and incurred during such fiscal year;  (e)  information on  future  authority or commission operations, debt service and capital construction, together with estimated receipts and expenditures for  the next  five  fiscal  years without reference to such proposed increase or imposition; (f) projections and estimates as to  the  effect  which  the proposed  increase  or  imposition  will  have  on the future use of the facilities, and an estimate of the revenues which  will  accrue  to  the authority  or  commission  as  the  result  of  the proposed increase or imposition.  (2) The comptroller shall review any proposed increase  or  imposition in  fees, tolls or other charges, and the report required by subdivision one of this section and within sixty days make public a  report  of  his findings,  conclusions  and recommendations. A copy of the comptroller's report shall be sent to  the  authority  or  commission,  the  governor, chairman  of the senate finance committee, chairman of the assembly ways and means  committee  and  ranking  minority  member  of  each  of  such committees.  (3)  Every  authority  or  commission  shall  hold a public hearing or hearings after receipt of the report  of  the  comptroller  required  by subdivision  two of this section not less than fifteen days prior to the effective date of such increase or imposition. Where the increase sought is or constitutes a portion  of  a  general  statewide  increase,  three hearings  across  the  state  shall  be  held.  Where  the  increase  or imposition is applicable only to a specific  facility  or  segment,  one hearing in the affected area shall be held. Notice of each hearing shall be   given  to  the  governor,  comptroller,  and  each  member  of  the legislature at least ten days prior to each such hearing, and  shall  be published  at  least  once in two newspapers of daily circulation in the area where each hearing is to be held at least ten days  prior  to  each such  hearing.  All  newspapers  shall  be  selected by the authority or commission. Copies of the proposed increase or imposition,  the  reports required  by subdivisions one and two of this section shall be available for public inspection during a period of  fifteen  days  prior  to  each hearing at the office or offices of the authority or commission and at a public  facility  in  each area where a hearing is to be held. Following  such public hearing or  hearings,  the  authority  or  commission  shall reconsider  the  proposed increase or imposition and may rescind, change or modify the proposal as it then deems necessary or advisable.  (4)  This  section  shall  not  be  applicable  to  any  authority  or commission whose existence and jurisdiction is fixed by compact, treaty, action or agreement with other states or nations.