§ 2804 — Financial disclosure by public authorities or commissions prior to toll or fare increase

New York § 2804

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 1: Reports By Public Authorities
• Art. 9: General Provisions

Text

§ 2804. Financial disclosure by public authorities or commissions\nprior to toll or fare increase. (1) Notwithstanding any inconsistent\nprovision of this chapter or of any other general, special or local law,\nevery authority or commission heretofore or hereafter continued or\ncreated by this chapter, except those excluded from the operation of\nthis section by subdivision four, having jurisdiction over highway,\nbridge or tunnel facilities shall submit to the governor, comptroller,\nchairman of the senate finance committee, chairman of the assembly ways\nand means committee and ranking minority member of each of such\ncommittees, not less than one hundred twenty days prior to the proposed\ndate of any future increase in fees, tolls or other charges for the use\nof any such highway, bridge or tunnel facilities, or the imposition of\ntolls or fees at such a location which is toll or fee free, a detailed\nreport setting forth: (a) the need for such increase or imposition; (b)\nits receipts and disbursements, or revenues and expenses, during the\nprior three fiscal years, or so much thereof as it may have been in\nexistence, in accordance with the categories or classifications\nestablished by such authority or commission for its own operating and\ncapital outlay purposes; (c) its assets and liabilities at the end of\nits last fiscal year including the status of reserve, depreciation,\nspecial or other funds and including the receipts and payments of these\nfunds; (d) a schedule of bonds and notes outstanding at the end of its\nfiscal year and their redemption dates, together with a statement of the\namounts redeemed and incurred during such fiscal year; (e) information\non future authority or commission operations, debt service and capital\nconstruction, together with estimated receipts and expenditures for the\nnext five fiscal years without reference to such proposed increase or\nimposition; (f) projections and estimates as to the effect which the\nproposed increase or imposition will have on the future use of the\nfacilities, and an estimate of the revenues which will accrue to the\nauthority or commission as the result of the proposed increase or\nimposition.\n (2) The comptroller shall review any proposed increase or imposition\nin fees, tolls or other charges, and the report required by subdivision\none of this section and within sixty days make public a report of his\nfindings, conclusions and recommendations. A copy of the comptroller's\nreport shall be sent to the authority or commission, the governor,\nchairman of the senate finance committee, chairman of the assembly ways\nand means committee and ranking minority member of each of such\ncommittees.\n (3) Every authority or commission shall hold a public hearing or\nhearings after receipt of the report of the comptroller required by\nsubdivision two of this section not less than fifteen days prior to the\neffective date of such increase or imposition. Where the increase sought\nis or constitutes a portion of a general statewide increase, three\nhearings across the state shall be held. Where the increase or\nimposition is applicable only to a specific facility or segment, one\nhearing in the affected area shall be held. Notice of each hearing shall\nbe given to the governor, comptroller, and each member of the\nlegislature at least ten days prior to each such hearing, and shall be\npublished at least once in two newspapers of daily circulation in the\narea where each hearing is to be held at least ten days prior to each\nsuch hearing. All newspapers shall be selected by the authority or\ncommission. Copies of the proposed increase or imposition, the reports\nrequired by subdivisions one and two of this section shall be available\nfor public inspection during a period of fifteen days prior to each\nhearing at the office or offices of the authority or commission and at a\npublic facility in each area where a hearing is to be held. Following\nsuch public hearing or hearings, the authority or commission shall\nreconsider the proposed increase or imposition and may rescind, change\nor modify the proposal as it then deems necessary or advisable.\n (4) This section shall not be applicable to any authority or\ncommission whose existence and jurisdiction is fixed by compact, treaty,\naction or agreement with other states or nations.\n