2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 11 - Metropolitan Commuter Transportation Authority › 1270-A - Metropolitan Transportation Authority Special Assistance Fund.

§  1270-a.  Metropolitan  transportation  authority special assistance
fund.  1. The authority shall create and establish a fund to be known as
the "metropolitan  transportation  authority  special  assistance  fund"
which  shall  be kept separate from and shall not be commingled with any
other moneys of the authority. The special assistance fund shall consist
of  three  separate  accounts:  (i)  the  "transit  account",  (ii)  the
"commuter  railroad  account"  and  (iii)  the "corporate transportation
account".
The authority shall make deposits  in  the  transit  account  and  the
commuter  railroad  account of the moneys received by it pursuant to the
provisions of subdivision one of section two hundred  sixty-one  of  the
tax  law  in  accordance  with  the  provisions  thereof, and shall make
deposits in the corporate transportation account of the moneys  received
by  it  pursuant  to  the  provisions  of subdivision two of section two
hundred sixty-one of the tax law and section ninety-two-ff of the  state
finance  law. The comptroller shall deposit, without appropriation, into
the corporate transportation account the revenue fees,  taxes,  interest
and   penalties   collected   in  accordance  with  paragraph  (b-1)  of
subdivision two of section five hundred three of the vehicle and traffic
law, paragraph (c-3) of subdivision two of section five hundred three of
the vehicle and traffic law, article  seventeen-C  of  the  vehicle  and
traffic  law,  article  twenty-nine-A  of the tax law and section eleven
hundred sixty-six-a of the tax law.
2. Moneys in the transit account may  be  pledged  to  the  Triborough
bridge  and  tunnel  authority  to  secure  bonds  and  notes and, if so
pledged, shall be paid to the Triborough bridge and tunnel authority  in
such  amounts and at such times as necessary to pay or to reimburse that
authority for its payment of debt service and  reserve  requirements  on
that portion of special Triborough bridge and tunnel authority bonds and
notes  issued  by  that  authority  pursuant  to  section  five  hundred
fifty-three-d of this chapter for transit projects  undertaken  for  the
New  York  city  transit  authority and its subsidiaries. Subject to the
provisions of such pledge, any excess monies, or in the event  there  is
no  such  pledge,  any moneys in such account shall, at the direction of
the metropolitan transportation authority, be (a) deposited into one  or
more  funds  or  accounts  and  used  as  contemplated by section twelve
hundred seventy-d of this title or (b) used for the payment of operating
and capital costs of  the  New  York  city  transit  authority  and  its
subsidiaries and the Staten Island rapid transit operating authority.
3. The authority shall transfer in nineteen hundred eighty-seven up to
twenty million dollars of the moneys in the commuter railroad account to
the  suburban  transportation  fund  in  accordance with the terms of an
agreement between the authority and  the  department  of  transportation
with  respect  thereto,  established  herein,  and  pursuant  to section
eighty-eight-b of  the  state  finance  law.  In  subsequent  years  the
authority  shall  transfer  twenty  million dollars of the moneys in the
commuter  railroad  account  to  the  suburban  transportation  fund  in
accordance  with the terms of an agreement between the authority and the
department of transportation with respect thereto,  established  herein,
and pursuant to section eighty-eight-b of the state finance law.
In the event the transfer to the suburban transportation fund provided
pursuant  to  this  subdivision  results  in  an  operating  deficit, as
certified by the director of the division of the budget, in consultation
with the authority, that portion of the  deficit  attributable  to  such
transfer  shall  be  appropriated from the general fund to the authority
for commuter railroad operating purposes, provided, however,  that  such
appropriation shall not exceed twenty million dollars.
The  remaining  moneys in the commuter railroad account may be pledged
to the Triborough bridge and tunnel authority to secure bonds and  notes
and,  if  so  pledged, shall be paid to the Triborough bridge and tunnel
authority in such amounts and at such times as necessary to  pay  or  to
reimburse  that  authority  for  its payment of debt service and reserve
requirements on that portion of special  Triborough  bridge  and  tunnel
authority  bonds  and notes issued by that authority pursuant to section
five hundred fifty-three-d of this chapter for transportation facilities
undertaken for the  authority  and  its  subsidiaries.  Subject  to  the
provisions  of any such pledge, any excess monies, or in the event there
is no such pledge, any moneys in such account shall, at the direction of
the metropolitan transportation authority, be (a) deposited into one  or
more  funds  or  accounts  and  used  as  contemplated by section twelve
hundred seventy-d of this title or, (b) used for  payment  of  operating
and  capital  costs  of  the  Long  Island  Rail  Road  company  and the
Metro-North commuter railroad company.
4. (a) Moneys in the corporate transportation account shall  first  be
used for payments to the metropolitan transportation authority Dutchess,
Orange and Rockland fund established by section twelve hundred seventy-b
of  this  title.  The  remaining  moneys in the corporate transportation
account may be pledged by the authority, or pledged  to  the  Triborough
bridge and tunnel authority, to secure bonds, notes or other obligations
of  the  authority or the Triborough bridge and tunnel authority, as the
case may be, and, if so pledged to  the  Triborough  bridge  and  tunnel
authority,  shall  be paid to the Triborough bridge and tunnel authority
in such amounts and at such times as necessary to pay  or  to  reimburse
that authority for its payment of debt service and reserve requirements,
if  any,  on  that  portion  of  special  Triborough  bridge  and tunnel
authority bonds and notes issued by that authority pursuant  to  section
five hundred fifty-three-d of this chapter. Subject to the provisions of
any  such  pledge,  or  in the event there is no such pledge, any excess
moneys in the corporate  transportation  account  may  be  used  by  the
authority  for  payment  of  operating  costs  of,  and  capital  costs,
including debt service and reserve requirements, if any, of or  for  the
authority, the New York city transit authority and their subsidiaries as
the authority shall determine.
(b)  Commencing  in calendar year nineteen hundred eighty-nine, and in
each subsequent year thereafter, the authority shall  transfer  in  four
equal quarterly amounts from the corporate transportation account to the
metropolitan transportation authority Dutchess, Orange and Rockland fund
created  by section twelve hundred seventy-b of this title the following
amounts: to the Dutchess account of such fund the  sum  of  one  million
five  hundred  thousand  dollars; to the Orange account of such fund the
sum of one million five hundred thousand dollars; and  to  the  Rockland
account of such fund the sum of two million dollars.
(c) Commencing in calendar year nineteen hundred ninety, and each year
thereafter,   the   authority   shall   transfer   from   the  corporate
transportation account to the Dutchess account, the Orange  account  and
the  Rockland  account,  respectively, an amount equal to the percent by
which such county's payments to the authority in the preceding  calendar
year  pursuant  to the provisions of subdivisions one and two of section
two hundred sixty-one of the tax law increased  over  such  payments  in
nineteen  hundred  eighty-nine  times  one million five hundred thousand
dollars for Dutchess county, one million five hundred  thousand  dollars
for Orange county and two million dollars for Rockland county; provided,
however,  that in no event shall such amount reduce the amount that each
county would receive pursuant to paragraph (b) of  this  subdivision  be
reduced  by  operation of this paragraph, and provided further, however,

for purposes of calculating the percent by which such county's  payments
to  the  authority  in  the  preceding  calendar  year  pursuant  to the
provisions of subdivisions one and two of section two hundred  sixty-one
of  the  tax  law  increased  over  such  payments  in  nineteen hundred
eighty-nine, there shall be excluded the amount by which the payments in
each such year increased as  a  result  of  the  recording  tax  imposed
pursuant  to  the  provisions  of subdivision one of section two hundred
sixty-one of the tax law being in excess of twenty-five cents  for  each
one hundred dollars.
(d)  (1)  In the event the county of Dutchess, the county of Orange or
the county of Rockland withdraws from  the  metropolitan  transportation
district,   the   authority   shall  not  transfer  from  the  corporate
transportation account  to  the  metropolitan  transportation  authority
Dutchess, Orange and Rockland fund that portion of the moneys that would
otherwise be transferred from such account to such fund to the credit of
such withdrawing county or counties.
(2)  For  purposes  of  this  subdivision,  a county is deemed to have
withdrawn if a resolution is adopted and filed by the county legislature
of such county  providing  a  public  transportation  plan  pursuant  to
section twelve hundred seventy-nine-b of this title.
(e)  Notwithstanding the foregoing provisions of this subdivision, any
moneys in the corporate transportation account that are received by  the
authority: (i) without appropriation pursuant to subdivision one of this
section,  or (ii) pursuant to the provisions of section ninety-two-ff of
the state finance law may be pledged by the authority, or pledged to the
Triborough bridge and tunnel authority, to secure bonds, notes or  other
obligations  of  the  authority  or  the  Triborough  bridge  and tunnel
authority, as the case may be, and, if  so  pledged  to  the  Triborough
bridge  and tunnel authority, shall be paid to the Triborough bridge and
tunnel authority in such amounts and at such times as necessary  to  pay
or  to  reimburse  that  authority  for  its payment of debt service and
reserve requirements, if any, on  that  portion  of  special  Triborough
bridge  and  tunnel  authority  bonds and notes issued by that authority
pursuant to section five hundred fifty-three-d of this chapter.  Subject
to  the  provisions of any such pledge, or in the event there is no such
pledge, any moneys in the corporate transportation account  received  by
the  authority: (i) without appropriation pursuant to subdivision one of
this  section,  or  (ii)  pursuant  to   the   provisions   of   section
ninety-two-ff  of the state finance law may be used by the authority for
payment of operating costs of, and capital costs, including debt service
and reserve requirements, if any, of or for the authority, the New  York
city  transit  authority  and  their subsidiaries as the authority shall
determine. No moneys in the corporate transportation  account  that  are
reserved  by  the  authority:  (i)  without  appropriation  pursuant  to
subdivision one of this section; or (ii) pursuant to the  provisions  of
section  ninety-two-ff  of  the state finance law may be used for making
any payment to the Dutchess, Orange and Rockland fund created by section
twelve hundred seventy-b of this title or considered in calculating  the
amounts required to be paid into such fund.