How S 4367 changes current law

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This bill amends 1 section(s) of the New York Consolidated Laws: Section 1269-c of the public authorities law.

• Section 1269-c of the public authorities law

  d. On or before October first, two thousand twenty-nine, and on or before October first of every fifth year thereafter, the authority shall submit to the metropolitan transportation authority capital program review board a twenty-year capital needs assessment. Such assessment shall begin with the period commencing January first, two thousand thir- ty-one, and begin each assessment with every fifth year thereafter, and describe capital investments over the succeeding twenty years. Such assessment shall: (1) set forth broad long-term capital investments to be made throughout the district; and (2) establish a non-binding basis to be used by the authority in the planning of strategic investments involving capital elements in its five-year capital plans. Such assess- ment shall not require a vote of the metropolitan transportation author- ity capital program review board and shall be for informational purposes only. For purposes of this section, "broad long-term capital invest- ments" shall include but not be limited to: system rebuilding, enhance- ment, and expansion needs; agency needs broken down by capital element or investment category; and projected future trends and network impli- cations. Such assessment shall be certified by the chair of the authori- ty and shall be entered into the permanent record of the minutes of the review board. italics

  amended