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| Re: Cuomo - Blow up the MTA (1499551) | |||
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Re: Cuomo - Blow up the MTA |
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Posted by Marc A. Rivlin on Wed Jan 9 19:25:26 2019, in response to Re: Cuomo - Blow up the MTA, posted by VictorM on Wed Jan 9 16:55:44 2019. If the laws governing the TBTA state that it must set tolls to maintain a certain level of surplus and that a certain amount of that surplus must be given to the agency operating the NYC buses and subways and a certain amount must go to the LIRR and Metro North, then the TBTA (i.e.: its board) has no say on the distribution of those funds. It's up to the legislature and the governor to set the parameters as long as those parameters do not violate the state constitution or the terms of outstanding TBTA bonds (e.g.: requiring payment to the transit agencies before debt service due the bondholders). I don't think there is anything in, for example, public authority law, that would make a single agency necessary for there to be a subsidy.My recollection of the history of the TBTA and the MTA's creation is that the TBTA was brought under the new MTA both to get the TBTA out from any bond restrictions that would have limited the use of TBTA surpluses from subsidizing transit and for political expediency in getting the TBTA out from under the control of Robert Moses and its board. It could have been done differently. It just looked better to have it all in one agency. |
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