§ 88-A — Mass transportation operating assistance fund

§ 88-a. Mass transportation operating assistance fund. 1. There is\nhereby established in the joint custody of the commissioner of taxation\nand finance and the state comptroller a special fund to be known as the\n"mass transportation operating assistance fund".\n 2. Moneys in the mass transportation operating assistance fund shall\nbe kept separately from and shall not be commingled with any other\nmoneys in the joint or sole custody of the state comptroller or the\ncommissioner of taxation and finance.\n 3. Except for moneys in the account established by subdivision six of\nthis section, moneys of the fund, following appropriation by the\nlegislature, shall be allocated upon a certificate of approval of\navailability by the director of the budget solely for the transportation\nassistance purposes set forth within the specific accounts contained\nwithin the fund established by this section.\n 4. The mass transportation operating assistance fund shall consist of\nthree separate and distinct accounts: (a) the "public transportation\nsystems operating assistance account", (b) the "urban mass transit\noperating assistance account", and (c) the "metropolitan mass\ntransportation operating assistance account". Moneys in each of the\naccounts shall be kept separately from and not commingled with any other\nmoneys in the mass transportation operating assistance fund.\n 5. (a) The "public transportation systems operating assistance\naccount" shall consist of revenues required to be deposited therein\npursuant to the provisions of section one hundred eighty-two-a of the\ntax law and all other moneys credited or transferred thereto from any\nother fund or source pursuant to law.\n (b) Moneys in the public transportation systems operating assistance\naccount shall be paid on a quarterly basis beginning October first,\nnineteen hundred eighty-one. However, if there is a demonstrated cash\nshortfall in any eligible system, payments to such system may be\naccelerated. Such payments shall be made in accordance with a schedule\nas specified by appropriation for the payment of operating costs of\npublic mass transportation systems outside the metropolitan commuter\ntransportation district as defined by section twelve hundred sixty-two\nof the public authorities law, eligible to receive operating assistance\npursuant to section eighteen-b of the transportation law.\n (c) Notwithstanding any law to the contrary, the comptroller is hereby\nauthorized and directed to transfer from the general fund for deposit\ninto the public transportation system operating assistance account, upon\nrequest of the director of the budget, on or before March 31 of each\nyear, an amount equal to the following:\n (i) For the state fiscal year ending March 31, 2015, two million eight\nhundred eight thousand ninety-six dollars;\n (ii) In each succeeding state fiscal year, the transfer shall equal\nthe product of the dollar amount in (i) and one plus the sales tax\ngrowth factor. For the purposes of this subparagraph, the sales tax\ngrowth factor is the percentage, if any, by which the aggregate amount\nof sales and compensating use taxes imposed pursuant to the authority of\nsubpart B of part I of article twenty-nine of the tax law, excluding\nsuch sales and compensating use taxes collected in the twelve counties\nthat comprise the metropolitan transportation commuter district created\nand established pursuant to section twelve hundred sixty-two of the\npublic authorities law, for the twelve month period ending on December\nthirty-first of the immediately preceding calendar year exceeds the\naggregate amount of such sales and compensating use taxes for the twelve\nmonth period ending on December thirty-first, two thousand thirteen. In\nno year will the amount of the deposit authorized under this section be\nless than the amount made in the prior year.\n 6. (a) The "urban mass transit operating assistance account" shall\nconsist of the revenues required to be deposited therein pursuant to the\nprovisions of article thirty-one-a of the tax law, and all other moneys\ncredited or transferred thereto from any other fund or source pursuant\nto law.\n (b) Moneys in the urban mass transit operating assistance account\nshall be available only for payment by the comptroller of refunds of,\nand of judgments awarded for claims for refund of, taxes paid on or\nafter October first, nineten hundred eighty-one but before April\nthirteenth, nineteen hundred eighty-two pursuant to the provisions of\narticle thirty-one-A of the tax law, provided that, in the case of a\nrefund, application for such refund has been made to the comptroller\nprior to April first, nineteen hundred eighty-six. Interest at the rate\nauthorized by section sixteen of the state finance law shall be payable\nwith such refunds and shall be computed from February first, nineteen\nhundred eighty-two or the date on which the tax was paid, whichever is\nlater.\n (c) When the comptroller determines that moneys of the account are\ninsufficient for the payment of any such refunds or judgments, he shall\ncertify to the commissioner of finance of the city of New York the\namount of such insufficiency and, from moneys in the special account or\naccounts established by and pursuant to sections W46-2.0 and II46-4.0 of\nthe administrative code of the city of New York, such commissioner of\nfinance shall, within twelve days of such certification, pay over such\namount to the comptroller for deposit in the urban mass transit\noperating assistance account of the mass transportation operating\nassistance fund to meet such insufficiency.\n 7. * (a) The "metropolitan mass transportation operating assistance\naccount" shall consist of the revenues derived from the taxes for the\nmetropolitan transportation district imposed by section eleven hundred\nnine of the tax law and that proportion of the receipts received\npursuant to the tax imposed by article nine-a of such law as specified\nin section one hundred seventy-one-a of such law, and that proportion of\nthe receipts received pursuant to the tax imposed by article nine of\nsuch law as specified in section two hundred five of such law, and the\nreceipts required to be deposited pursuant to the provisions of section\none hundred eighty-two-a, and all other moneys credited or transferred\nthereto from any other fund or source pursuant to law.\n * NB Effective until April 1, 2026\n * (a) The "metropolitan mass transportation operating assistance\naccount" shall consist of that proportion of the revenues derived from\nthe taxes for the metropolitan transportation district imposed by\nsection eleven hundred nine of the tax law as specified in such section\nand that proportion of the receipts received pursuant to the tax imposed\nby article nine-A of such law as specified in section one hundred\nseventy-one-a of such law, and that proportion of the receipts received\npursuant to the tax imposed by article nine of such law as specified in\nsection two hundred five of such law, and the receipts required to be\ndeposited pursuant to the provisions of section one hundred eighty-two-a\nof such law, and all other moneys credited or transferred thereto from\nany other fund or source pursuant to law.\n * NB Effective April 1, 2026\n (b) Moneys in the metropolitan mass transportation operating\nassistance account shall be paid on a quarterly basis beginning October\nfirst, nineteen hundred eight-one. However, if there is a demonstrated\ncash shortfall in any eligible system, payments to such system may be\naccelerated. Such moneys shall be paid in accordance with schedules as\nspecified by appropriations for payment of operating costs of public\ntransportation systems in the metropolitan transportation commuter\ndistrict in order to meet the operating expenses of such systems,\nprovided, however, with respect to the metropolitan transportation\nauthority, its affiliates and subsidiaries, and notwithstanding any\ngeneral or special law to the contrary, other than such a law which\nmakes specific reference to this section, and subject to the provisions\nof section twelve hundred seventy-c of the public authorities law, so\nlong as the metropolitan transportation authority dedicated tax fund\nestablished by section twelve hundred seventy-c of the public\nauthorities law shall exist, any such appropriation to the metropolitan\ntransportation authority, its affiliates or its subsidiaries shall be\ndeemed to be an appropriation to the metropolitan transportation\nauthority and the total amount paid pursuant to such appropriation or\nappropriations shall be deposited to such metropolitan transportation\nauthority dedicated tax fund and distributed in accordance with the\nprovisions of section twelve hundred seventy-c of the public authorities\nlaw. Nothing contained in this subdivision shall be deemed to restrict\nthe right of the state to amend, repeal, modify or otherwise alter\nstatutes imposing or relating to the taxes producing revenues for\ndeposit in the metropolitan mass transportation operating assistance\naccount or the appropriations relating thereto. The metropolitan\ntransportation authority shall not include within any resolution,\ncontract or agreement with holders of the bonds or notes issued under\nsection twelve hundred sixty-nine of the public authorities law any\nprovision which provides that a default occurs as a result of the state\nexercising its right to amend, repeal, modify or otherwise alter such\ntaxes or appropriations.\n 9. Any moneys in the mass transportation operating assistance fund and\nin any of the accounts in such fund may, at the discretion of the state\ncomptroller, be invested in securities and obligations as defined by\nsection ninety-eight-a of this chapter. Any income earned by the\ninvestment of moneys in any of the accounts in such fund shall be added\nto and become a part of, and shall be used for the purposes of such\naccount.\n