Bill > A03908

This bill establishes a new "public transportation expansion fund" to support public transit infrastructure and access for economic development projects across New York State. The fund will be jointly administered by the commissioners of economic development and transportation, with transportation authorities in each economic development region eligible to receive up to $5 million per fiscal year. These funds can be used for establishing new transit services, improving transportation facilities, purchasing equipment and property, and covering capital and operating expenses related to economic development projects. A "publicly funded economic development project" is defined as a project receiving funding or incentives from various government entities like the urban development corporation, federal economic development administration, or municipal industrial development agencies. The fund will be created in the joint custody of the tax commissioner and state comptroller, and will consist of appropriated moneys, grants, gifts, and bequests. The primary goal is to ensure better transportation access for economic development initiatives across different regions of New York, with specific rules and regulations to be developed by the commissioners to guide the fund's implementation.

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https://www.nysenate.gov/legislation/bills/2025/A3908