2023 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.  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.
3. 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. 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.
5.  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.