BILL NUMBER: S5060
SPONSOR: SEPULVEDA
 
TITLE OF BILL:
An act to amend the economic development law and the state finance law,
in relation to establishing a public transportation expansion fund
 
PURPOSE:
To create a Public transportation expansion fund to reimburse transit
authorities established pursuant to section eighty-eight-a of the state
finance law for expenses of expanding transit to publicly funded econom-
ic development projects outside their currently offered service area.
 
SUMMARY OF PROVISIONS:
Section 1. Short title
Section 2 adds a new section 233 to the economic development law direct-
ing the Commissioners of the Economic Development and Transportation to
develop and jointly administer a public transportation expansion fund
for the purpose of ensuring access to public transportation for publicly
funded economic development project and sets eligibility for access to
the fund.
Section 3 adds a new section 88-e to the State Finance Law to establish
the Public Transportation Expansion Fund.
 
JUSTIFICATION:
Major publicly funded economic development projects across the State
need public transit to connect to workforce development in these
regions. The location of the new facilities publicly funded through
incentives from Empire State Development, IDAs, or other Federal, State,
and local subsidies are often outside the existing public transportation
service areas of Transportation Authorities.
However, these new facilities need access to workforce in the region
which often requires expansion of public transit service. The addition
and continued operation of these new routes can cost millions of dollars
annually to the Transportation Authority.
The Public Transportation Expansion Fund would help these Authorities
cover both the initial cost of the service as well as the ongoing cost
to maintain it. Given how much economic development activity is underway
and planned for the future, it is important the State contemplates how
it will connect transit dependent individuals with these unprecedented
economic opportunities.
Perhaps most importantly, the Public Transit Equity Fund would promote
workforce development and social equity throughout the State by ensuring
that disadvantaged populations have equal access to employment at these
new and growing employers.
 
LEGISLATIVE HISTORY:
2023-24: S.8563 - Investigations and Government Operations
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect immediately.