Bill > S04203

This bill updates and permanently establishes value capture mechanisms for municipal corporations working with the Metropolitan Transportation Authority (MTA) in New York, focusing on transparency and funding for mass transportation capital projects. The bill requires municipal corporations to publish detailed analyses before establishing transportation project districts, including revenue projections and transportation engineering assessments, with specific requirements for data presentation and public engagement. These analyses must demonstrate how the project will benefit the public and include machine-readable data explaining the methodology and assumptions used. The bill expands the methods municipal corporations can use to generate revenue for transportation projects, such as special transportation assessments, land value taxation, and other revenue-generating techniques, while ensuring that the taxes and charges are proportionate to the actual benefit each property will receive. Additionally, the bill removes previous sunset provisions that would have ended these value capture mechanisms in April 2025, effectively making these provisions permanent. The goal is to provide more transparent and flexible funding mechanisms for local governments to support transportation infrastructure improvements in collaboration with the MTA.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S4203