New state law requires MTA to post financial plansPosted: Updated:
ALBANY (AP) - A new state law in New York seeks to shine a light on the New York City subway system's finances.
The measure, signed into law last week by Democratic Gov. Andrew Cuomo, will require the Metropolitan Transportation Authority to post its financial plans online before the agency's board can call a vote.
The MTA has in the past approved multi-year, billion-dollar spending plans with little public oversight.
Democratic state Assemblyman David Buchwald of Westchester County sponsored the new law.
He says the public deserves to know how the MTA is spending its money and that the new rule ensures the agency won't be able to leave the public in the dark.