N.Y. Public Authorities Law § 1270-i: New York city transportation assistance fund

§ 1270-i. New York city transportation assistance fund. 1. The

authority shall create and establish a fund to be known as the "New York

city transportation assistance fund" which shall be kept separate from

and shall not be commingled with any other moneys of the authority. The

New York city transportation assistance fund shall consist of three

separate accounts: (i) the "subway action plan account"; (ii) the "outer

borough transportation account"; and (iii) the "general transportation

account". The authority shall make deposits in the subway action plan

account of the moneys received by it pursuant to the provisions of

subdivision (c) of section twelve hundred ninety-nine-H of the tax law

in accordance with the provisions thereof, shall make deposits in the

outer borough transportation account of the moneys received by it

pursuant to the provisions of subdivision (d) of section twelve hundred

ninety-nine-H of the tax law in accordance with the provisions thereof,

and shall make deposits in the general transportation account of the

moneys received by it pursuant to the provisions of subdivision (e) of

section twelve hundred ninety-nine-H of the tax law in accordance with

the provisions thereof, and pursuant to the provisions of section eleven

hundred eleven-C of vehicle and traffic law.

2. Moneys in the subway action plan account shall be used for the

exclusive purpose of funding the operating and capital costs of the

metropolitan transportation authority's New York city subway action

plan. Such funds may be used for infrastructure including construction,

reconstruction, reconditioning and preservation of transportation

systems, facilities and equipment, acquisition of property, and for

operating costs including personal services, non-personal services,

fringe benefits, and contractual services. Funds may also be used to pay

or to reimburse the authority for its payment of debt service and

reserve requirements on that portion of authority bonds and notes issued

by the authority for capital costs of the metropolitan transportation

authority's New York city subway action plan.

3. Moneys in the outer borough transportation account shall be used

for the exclusive purpose of funding the operating and capital costs of

metropolitan transportation authority facilities, equipment and services

in the counties of Bronx, Kings, Queens and Richmond, and any projects

improving transportation connections from such counties to New York

County. Such funds may be used for infrastructure including

construction, reconstruction, reconditioning and preservation of

transportation systems, facilities and equipment, acquisition of

property, and for operating costs including personal services,

non-personal services, fringe benefits, and contractual services. Funds

may also be used to fund a toll reduction program for any crossings

under the jurisdiction of the metropolitan transportation authority or

its subsidiaries or affiliates. Funds may also be used to pay or to

reimburse the authority for its payment of debt service and reserve

requirements on that portion of authority bonds and notes that have been

issued by the authority specifically for the authorized purpose of this

account. Notwithstanding any law to the contrary, final approval of the

use of any funds paid into the outer borough transportation account

shall be unanimously approved by three members of the Metropolitan

Transportation Authority Capital Program Review Board, established

pursuant to section twelve hundred sixty-nine-a of this title so

designated pursuant to this subdivision. For purposes of such final

approvals the three voting members are: the member appointed upon

recommendation by the temporary president of the senate; the member

appointed upon recommendation of speaker of the assembly; and the member

appointed by the governor.

4. Moneys in the general transportation account shall be used for

funding the operating and capital costs of the metropolitan

transportation authority. Such funds may be used for infrastructure

including construction, reconstruction, reconditioning and preservation

of transportation systems, facilities and equipment, acquisition of

property, and for operating costs including personal services,

non-personal services, fringe benefits, and contractual services. Funds

may also be used to pay or to reimburse the authority for its payment of

debt service and reserve requirements on that portion of authority bonds

and notes that have been issued by the authority specifically for the

purposes of this account.

5. Any revenues deposited in the subway action plan account, the outer

borough transportation account, or the general transportation account

pursuant to subdivision one of this section shall be used exclusively

for the purposes described, respectively, in subdivisions two, three,

and four of this section. Such revenues shall only supplement and shall

not supplant any federal, state, or local funds expended by the

metropolitan transportation authority, such authority's affiliates or

subsidiaries for such respective purposes.

6. Any revenues deposited into the New York city transportation

assistance fund pursuant to subdivision one of this section shall not be

diverted into the general fund of the state, any other fund established

by the chapter of the laws of two thousand eighteen which added this

subdivision, any other fund maintained for the support of any other

governmental purpose, or for any other purpose not authorized by

subdivisions two, three and four of this section.

7. The authority shall report on the receipt and uses of all funds

received by the New York city transportation assistance fund, and in

each of its accounts, to the director of the budget, the temporary

president of the senate, and the speaker of the assembly, on an annual

basis no later than the first day of February.