S 5578: Provides for a 75-25 percent split in the New York city transit authority's operating surplus between the authority and the Metropolitan transit authority where previously the split was 50-50.

  
  STATE OF NEW YORK ________________________________________________________________________ 5578 2025-2026 Regular Sessions  IN SENATE February 25, 2025 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation AN ACT to amend the public authorities law, in relation to the formula for New York city transit authority operating surplus revenue The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (b) of subdivision 2 of section 1219-a of the 2 public authorities law, as amended by section 19 of part O of chapter 61 3 of the laws of 2000, is amended to read as follows: 4 (b) Promptly upon the making of the certification of its operating 5 surplus, if any, for its fiscal year ending December thirty-first, nine- 6 teen hundred seventy-two and for each of its subsequent fiscal years, 7 triborough bridge and tunnel authority, at the direction of metropolitan 8 transportation authority, shall transfer such operating surplus (1) to 9 the metropolitan transportation authority for deposit into one or more 10 funds or accounts to be used as contemplated by section twelve hundred 11 seventy-d of this article, or (2) to the authority and the metropolitan 12 transportation authority solely for application to the payment of the 13 expenses of operation. For purposes of determining the proportional 14 allocation of the operating surplus as between the authority and the 15 metropolitan transportation authority, the following formula shall 16 apply: (i) twenty-four million dollars plus [fifty] seventy-five percen- 17 tum of the balance of such operating surplus shall be allocable to the 18 authority, and (ii) the remainder shall be allocable to metropolitan 19 transportation authority on behalf of the commuter railroads operated by 20 it, by its subsidiary corporations or by others under joint arrange- 21 ments. 22 § 2. This act shall take effect on the sixtieth day after it shall 23 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09655-01-5