Updates value capture mechanisms for NYC and the MTA, including transparency requirements; extends such provisions of law until April 1, 2031.

New York S04203 amends the general municipal law to update value capture mechanisms for New York City and the Metropolitan Transportation Authority (MTA), including transparency requirements. The bill extends these provisions until April 1, 2031. It mandates that municipal corporations or the MTA must produce and publish analyses on their websites at least 45 days before a public hearing. These analyses must include revenue projections, explanations of special transportation assessments, project costs, funding sources, and other relevant details.

Updates value capture mechanisms for NYC and the MTA, including transparency requirements; extends such provisions of law until April 1, 2031.

New York S04203 amends the general municipal law to update value capture mechanisms for New York City and the Metropolitan Transportation Authority (MTA), including transparency requirements. The bill extends these provisions until April 1, 2031. It mandates that municipal corporations or the MTA must produce and publish analyses on their websites at least 45 days before a public hearing. These analyses must include revenue projections, explanations of special transportation assessments, project costs, funding sources, and other relevant details.