Bill > S05060

This bill establishes a public transportation expansion fund designed to improve transportation access for economic development projects. The fund will be jointly administered by the commissioners of economic development and transportation, and it will provide up to $5 million annually to transportation authorities in each economic development region. Eligible projects can include establishing new transit services, improving transportation facilities, purchasing equipment or real property, and covering capital and operating expenses. A "publicly funded economic development project" is defined as any 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 established in the joint custody of the commissioner of taxation and finance and the state comptroller, and it can receive appropriations, grants, and gifts. Money from the fund will be specifically used to ensure public transportation access for economic development projects, with the goal of supporting infrastructure and transit connectivity in areas undergoing economic development.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5060