BILL NUMBER: S5590
SPONSOR: COMRIE
 
TITLE OF BILL:
An act requiring all public authorities owning, leasing, and controlling
critical infrastructure to study the potential consequences of privati-
zation
 
PURPOSE OR GENERAL IDEA OF BILL:
This bill would require all public authorities seeking to transfer
control of critical transportation infrastructure to the private busi-
ness sector, as well as all those who have done so within the past ten
years, to issue a study reporting on the effects of privatization on the
infrastructure and on the authority's finances and operations.-
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 lays out the legislative findings.
Section 2 defines key terms such as critical transportation infrastruc-
ture.
Section 3 lays out the requirement for public authorities looking to or
that have already have privatized pieces of critical transportation
infrastructure in the past ten years to study the effects of that priva-
tization. These studies would have to examine the effects privatization
of that piece of infrastructure would or did have on the authority's
finances and operations, as well as any comparable privatization initi-
atives across the United States, and the outcomes of those comparable
project(s). This section also describes the deadlines by which public
authorities must submit their reports to various committees of the New
York State Senate and Assembly and to various elected officials, receive
feedback from said figures, and then update their reports based on that
feedback.
Section 4 states the effective date.
 
JUSTIFICATION:
This bill would require public authorities to analyze the long-term
fiscal implications relative to the privatizization of critical trans-
portation infrastructure.
Public authorities should be required to show rational and demonstrable
proof that a onetime cash infusion resulting from selling public assets
is preferable to the decades of future income and tighter control of
price increases that may currently exist. The possibili:y exiss :ha:
taxpayers will be left with higher tolls and poorer service when private
entities begin seeking greater profits from privatized infrastructure.
The legislature needs the specific details of any and all deals that
have or would privatize infrastructure in New York State so we may craft
a comprehensive policy that protects the state.
 
PRIOR LEGISLATIVE HISTORY:
S.6296-A of 2017-18.
2021-2022: S5528
 
FISCAL IMPACT:
None.
 
EFFECTIVE DATE:
This act shall take effect on the ninetieth day after it shall have
become a law, except that any rule or regulation necessary for the time-
ly implementation of this act on its effective date shall be promulgated
on or before, such date.