2023 New York Laws › STF - State Finance › Article 6 - Funds of the State › 88-B - Suburban Transportation Fund.

§  88-b.  Suburban transportation fund. 1. There is hereby established
in the joint custody of the commissioner of taxation and finance and the
comptroller a fund to be known as the "suburban transportation fund".
2. The suburban transportation fund shall consist of moneys  from  the
commuter  railroad  account of the metropolitan transportation authority
special assistance fund required to be paid by  such  authority  to  the
suburban  transportation  fund  pursuant to subdivision three of section
twelve hundred seventy-a of the public authorities law  and  any  moneys
from  the  metropolitan  transportation  authority  Dutchess, Orange and
Rockland fund transferred pursuant to subdivision four of section twelve
hundred seventy-a of the public authorities law.
3. Moneys in the suburban transportation fund shall be  kept  separate
from and shall not be commingled with any other moneys in the custody of
the  commissioner  of  taxation  and  finance  and  the comptroller. All
deposits of such money shall, if required by the comptroller, be secured
by obligations of the United States or of  the  state  of  market  value
equal  at all times to the amount of the deposit and all banks and trust
companies are authorized to give such securities for such deposits.
4. Moneys of the fund shall be made available for financing any of the
following types of capital projects within the counties  comprising  the
metropolitan  commuter  transportation  district,  except those counties
comprising the city of New York,  but  only  to  the  extent  that  such
projects  are  on  an  adopted  transportation  plan  and  approved by a
designated transportation coordinating committee, if one exists,  or  by
the  metropolitan  planning  organization as created pursuant to section
fifteen-a of the transportation  law  if  no  designated  transportation
coordinating  committee exists: capacity and infrastructure improvements
to state, county, town, city,  village  roads,  highways,  parkways  and
bridges;  or  state,  county,  town, city or village mass transportation
projects; provided, however, that in Nassau and  Suffolk  counties  such
moneys shall be available only for capacity improvements to state roads,
highways,  parkways  and bridges. The amount of state funds historically
appropriated  statewide,  other  than  bond  funds,  for  transportation
capital  purposes from other sources shall not be reduced because of the
availability of such moneys made available pursuant to this chapter, nor
shall such moneys be used to match federal aid. Prior to the  allocation
of  state  advance  funds  appropriated  pursuant  to  this section, the
municipality  responsible  for  the  project  shall   certify   to   the
commissioner of transportation that the amount of funds appropriated for
transportation  capital  purposes  by  that  municipality  shall  not be
reduced because of the availability of such  state  advance  funds,  and
that such moneys shall not be used to match federal aid.
The  designated  transportation coordinating committee, if one exists,
or   the   metropolitan   planning   organization   if   no   designated
transportation   coordinating   committee   exists,   shall  notify  the
municipalities  within  its  jurisdiction  of  which  projects  it   has
approved.
5.  In  the  event  that  any  county  withdraws from the metropolitan
commuter transportation district, the withdrawing county  shall  pay  to
the  state  comptroller any amount that is required so that the state is
fully reimbursed for funds advanced  in  anticipation  of  reimbursement
from the suburban transportation fund. In the event that any withdrawing
county  shall  fail  to make a payment pursuant to this subdivision, the
state comptroller shall withhold and pay to the capital projects fund an
amount equal to the amount owed from the next general or specific  state
aid payment and scheduled to be paid to that county.
6.  Moneys in the suburban transportation fund transferred pursuant to
section twelve hundred seventy-a of the public authorities law shall  be

made  available  to  the  state department of transportation for capital
projects in  the  counties  of  Nassau,  Suffolk,  Westchester,  Putnam,
Dutchess,  Orange and Rockland on the basis of each county's average pro
rata  share  of  the  mortgage  recording  tax  receipts  raised in such
counties pursuant to subdivision one of section two hundred sixty-one of
the  tax  law  during  the  period  January  first,   nineteen   hundred
eighty-four  through  December thirty-first, nineteen hundred eighty-six
as  certified  by  the  metropolitan  transportation  authority.  Moneys
transferred  to  the  suburban  transportation  fund  at  the request of
Dutchess, Orange or Rockland county pursuant  to  subdivision  three  of
section  twelve hundred seventy-b of the public authorities law shall be
used  by  the  state  department  of  transportation  to  increase   the
proportionate  share  of  such  capital  projects  in  such county. Such
projects shall be financed by means of a state advance to be  reimbursed
by  the  New  York  state  thruway  authority,  or its successor agency,
through the issuance of its bonds or notes in the manner  set  forth  in
subdivision  seven of this section, or by means of a state advance to be
reimbursed directly from the suburban transportation fund.
7. (a) For projects funded by the suburban  transportation  fund,  the
state  department of transportation may enter into an agreement with the
New York state thruway authority,  or  its  successor  agency,  for  the
purpose  of having the thruway authority, or its successor agency, issue
bonds or notes to pay the capital costs of such project. Such  agreement
shall  be  subject  to  approval  by the director of the division of the
budget.
(b) For projects funded pursuant to  this  subdivision,  the  affected
municipality  shall  enter  into  an  agreement  with  the department of
transportation  for  the  conveyance  of  all  affected  real   property
including  highways,  roads and bridges to the thruway authority, or its
successor agency, for the term of the  bonds  or  notes  issued  by  the
thruway authority, or its successor agency, for such project or for such
lesser  period  that  such  bonds  or  notes are outstanding. During the
period of such conveyance to the thruway  authority,  or  its  successor
agency, the department of transportation or the municipality shall agree
to  maintain  the facility in a state of good repair, the responsibility
for  which  shall  be  with  the  state,  or  municipality,  which   had
jurisdiction over said facility prior to such agreement.
(c)  Upon  the  final  retirement of all bonds and notes issued by the
thruway authority, or its  successor  agency,  for  such  purpose,  such
property shall automatically revert to the conveying entity.
8.  Payments  to  the  thruway  authority,  or  its  successor agency,
pursuant to this section shall be  subject  to  appropriation  from  the
suburban  transportation  fund.  The thruway authority, or its successor
agency, shall utilize such moneys to pay the debt service on such  bonds
or notes and to meet administrative costs in connection therewith.