§ 1270-I — New York city transportation assistance fund

§ 1270-i. New York city transportation assistance fund. 1. The\nauthority shall create and establish a fund to be known as the "New York\ncity transportation assistance fund" which shall be kept separate from\nand shall not be commingled with any other moneys of the authority. The\nNew York city transportation assistance fund shall consist of three\nseparate accounts: (i) the "subway action plan account"; (ii) the "outer\nborough transportation account"; and (iii) the "general transportation\naccount". The authority shall make deposits in the subway action plan\naccount of the moneys received by it pursuant to the provisions of\nsubdivision (c) of section twelve hundred ninety-nine-H of the tax law\nin accordance with the provisions thereof, shall make deposits in the\nouter borough transportation account of the moneys received by it\npursuant to the provisions of subdivision (d) of section twelve hundred\nninety-nine-H of the tax law in accordance with the provisions thereof,\nand shall make deposits in the general transportation account of the\nmoneys received by it pursuant to the provisions of subdivision (e) of\nsection twelve hundred ninety-nine-H of the tax law in accordance with\nthe provisions thereof, and pursuant to the provisions of section eleven\nhundred eleven-C of vehicle and traffic law.\n 2. Moneys in the subway action plan account shall be used for the\nexclusive purpose of funding the operating and capital costs of the\nmetropolitan transportation authority's New York city subway action\nplan. Such funds may be used for infrastructure including construction,\nreconstruction, reconditioning and preservation of transportation\nsystems, facilities and equipment, acquisition of property, and for\noperating costs including personal services, non-personal services,\nfringe benefits, and contractual services. Funds may also be used to pay\nor to reimburse the authority for its payment of debt service and\nreserve requirements on that portion of authority bonds and notes issued\nby the authority for capital costs of the metropolitan transportation\nauthority's New York city subway action plan.\n 3. Moneys in the outer borough transportation account shall be used\nfor the exclusive purpose of funding the operating and capital costs of\nmetropolitan transportation authority facilities, equipment and services\nin the counties of Bronx, Kings, Queens and Richmond, and any projects\nimproving transportation connections from such counties to New York\nCounty. Such funds may be used for infrastructure including\nconstruction, reconstruction, reconditioning and preservation of\ntransportation systems, facilities and equipment, acquisition of\nproperty, and for operating costs including personal services,\nnon-personal services, fringe benefits, and contractual services. Funds\nmay also be used to fund a toll reduction program for any crossings\nunder the jurisdiction of the metropolitan transportation authority or\nits subsidiaries or affiliates. Funds may also be used to pay or to\nreimburse the authority for its payment of debt service and reserve\nrequirements on that portion of authority bonds and notes that have been\nissued by the authority specifically for the authorized purpose of this\naccount. Notwithstanding any law to the contrary, final approval of the\nuse of any funds paid into the outer borough transportation account\nshall be unanimously approved by three members of the Metropolitan\nTransportation Authority Capital Program Review Board, established\npursuant to section twelve hundred sixty-nine-a of this title so\ndesignated pursuant to this subdivision. For purposes of such final\napprovals the three voting members are: the member appointed upon\nrecommendation by the temporary president of the senate; the member\nappointed upon recommendation of speaker of the assembly; and the member\nappointed by the governor.\n 4. Moneys in the general transportation account shall be used for\nfunding the operating and capital costs of the metropolitan\ntransportation authority. Such funds may be used for infrastructure\nincluding construction, reconstruction, reconditioning and preservation\nof transportation systems, facilities and equipment, acquisition of\nproperty, and for operating costs including personal services,\nnon-personal services, fringe benefits, and contractual services. Funds\nmay also be used to pay or to reimburse the authority for its payment of\ndebt service and reserve requirements on that portion of authority bonds\nand notes that have been issued by the authority specifically for the\npurposes of this account.\n 5. Any revenues deposited in the subway action plan account, the outer\nborough transportation account, or the general transportation account\npursuant to subdivision one of this section shall be used exclusively\nfor the purposes described, respectively, in subdivisions two, three,\nand four of this section. Such revenues shall only supplement and shall\nnot supplant any federal, state, or local funds expended by the\nmetropolitan transportation authority, such authority's affiliates or\nsubsidiaries for such respective purposes.\n 6. Any revenues deposited into the New York city transportation\nassistance fund pursuant to subdivision one of this section shall not be\ndiverted into the general fund of the state, any other fund established\nby the chapter of the laws of two thousand eighteen which added this\nsubdivision, any other fund maintained for the support of any other\ngovernmental purpose, or for any other purpose not authorized by\nsubdivisions two, three and four of this section.\n 7. The authority shall report on the receipt and uses of all funds\nreceived by the New York city transportation assistance fund, and in\neach of its accounts, to the director of the budget, the temporary\npresident of the senate, and the speaker of the assembly, on an annual\nbasis no later than the first day of February.\n