Statement on Passage of Transit Lockbox II Bill

June 19, 2013

Statement on passage of Statewide Transit Lockbox Bill S5084-2013/A3837-2013

Albany, New York

Reinvent Albany congratulates Assemblyman Jim Brennan(D) and State Senator Marty Golden (R) for winning overwhelming passage of the Statewide Transit Lockbox bill. Congratulations also goes to the large coalition of labor unions, business groups, transit and environmental advocates and good government groups that supported passage of the bill this session, and identical bills in 2011.

The Lockbox Bill is good for transit riders and taxpayers. It discourages the diversion of dedicated transit funds, and increases fiscal transparency and accountability.

In practical terms, the Transit Lockbox is intended to make it politically more difficult to raid dedicated transit funds. It does this with an innovative “diversion impact statement,” which highlights the impact of transit raids on service, safety and maintenance.

“The Transit Lockbox bill is good for both transit riders and tax payers. It increases fiscal transparency, and makes it harder for Albany to break the promise to taxpayers that transit dedicated taxes will be spent solely on transit.” Said John Kaehny, executive director of Reinvent Albany, a group which advocates for fiscal transparency and accountability.