N.Y. Public Authorities Law § 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.