N.Y. Transp. Law § 480

Current through 2024 NY Law Chapter 456

Section 480 - Expenditure of moneys

1. In accordance with the provisions of the rebuild and renew New York transportation bond act of two thousand five authorizing the creation of general obligation debt in the amount of two billion nine hundred million dollars ($2,900,000,000), the moneys received by the state from the sale of bonds and/or notes shall be expended for uses eligible pursuant to the rebuild and renew New York transportation bond act of two thousand five pursuant to annual appropriations as follows:

(a) One billion four hundred fifty million dollars ($1,450,000,000) as authorized by subdivision two of this section; and

(b) One billion four hundred fifty million dollars ($1,450,000,000) as authorized by subdivision two of section twelve hundred seventy-f of the public authorities law.

2. Program distribution. The moneys received by the state from the sale of bonds sold pursuant to the rebuild and renew New York transportation bond act of two thousand five for uses eligible pursuant to subdivision a of section four of the rebuild and renew New York transportation bond act of two thousand five shall be expended for the following transportation programs, pursuant to annual appropriations:

One billion four hundred fifty million dollars ($1,450,000,000) for the construction, reconstruction, replacement, improvement, reconditioning, rehabilitation and preservation, including engineering, construction management, site preparation, clearances, the preparation of designs, plans, specifications, estimates, environmental impact statements, appraisals and surveys, and the acquisition of real property and interests therein required or expected to be required in connection therewith, of: state highways, bridges and parkways; highways and bridges off the state highway system necessary or reasonably expected to be necessary as a project component or incidental to projects otherwise authorized by this paragraph in relation to the canal system and appurtenances thereto; highways and bridges either on or off the state highway system necessary or reasonably expected to be necessary as a project component or incidental to projects otherwise authorized by this paragraph in relation to airports and aviation facilities, ports, omnibus, mass transit, rapid transit and rail projects; border crossing enhancements either on or off the state highway system; the improvement and/or elimination of highway-railroad grade crossings either on or off the state highway system; pedestrian and/or bicycle trails, pathways and bridges that serve transportation needs; the canal system and appurtenances thereto, including moveable bridges that cross over the canal system, canal infrastructure improvement and enhancement projects, and improvement and enhancement of canal harbors, service ports, marine terminals and marine transportation facilities on the canal system; airports and aviation facilities, equipment and related projects, exclusive of those airports and facilities under the jurisdiction of the port authority of New York and New Jersey or operated by the state of New York; ports, marine terminals and marine transportation facilities exclusive of those under the jurisdiction of the port authority of New York and New Jersey; omnibus, mass transit and rapid transit systems, facilities, and equipment, including acquisition, exclusive of those operated or acquired by or under the jurisdiction of the metropolitan transportation authority and its subsidiaries, the New York city transit authority and its subsidiaries and the Triborough bridge and tunnel authority; urban, commuter and intercity passenger rail, freight rail, and intermodal passenger and freight facilities and equipment, including alterations necessary to improve track clearances, and also including facilities used jointly by commuter railroad companies and freight railroad companies, but otherwise exclusive of those operated by or under the jurisdiction of the metropolitan transportation authority and its subsidiaries, the New York city transit authority and its subsidiaries and the Triborough bridge and tunnel authority.

N.Y. Transp. Law § 480