DOWNSTATE PUBLIC TRANS

Amends the Downstate Public Transportation Act. Provides that a municipality or local mass transit district serving a nonurbanized area and receiving federal rural public transportation assistance on or before December 31, 2003 (instead of June 30, 2002) is a "participant" for public transportation assistance. Beginning July 1, 2005, increases the amount paid by the Department of Revenue into the Downstate Public Transportation Fund each month to 3/32 (now 2/32) of 80% of the net revenue realized under certain State tax Acts within any municipality or county located within the boundaries of each participant in the Fund. Requires the Department of Revenue to allocate the entire amount paid into the Metro-East Public Transportation Fund to the District serving primarily the County of Madison (now, 55% is allocated to the District serving primarily the counties of Monroe and St. Clair and 45% is allocated to the District serving primarily the County of Madison). Provides that, beginning July 1, 2005, with respect to the District serving primarily the counties of Monroe and St. Clair: (i) the District is no longer included for new appropriation funding purposes as part of the Metro-East Public Transportation Fund and is instead included for new appropriation funding purposes as part of the Downstate Public Transportation Fund, provided that the District remains eligible for previously appropriated funds to which it would otherwise be entitled; (ii) the amount transferred from the General Revenue Fund to the Downstate Public Transportation Fund shall be 3/32 (now, 2/32) of 80% of the net revenue realized from within the boundaries of Monroe and St. Clair counties under certain State tax Acts; (iii) certain provisions with respect to allocations to Metro-East Mass Transit Districts of the amount paid into the Metro-East Public Transportation Fund do not apply to the District serving primarily the counties of Monroe and St. Clair with respect to fiscal year 2006 and succeeding fiscal years; and (iv) authorizes the District to file a request each fiscal year for a monthly payment of 1/12 of the amount appropriated for that fiscal year, except that the total amount of payments in a fiscal year shall not exceed the lesser of (i) 55% of the District's eligible operating expenses for that fiscal year or (ii) the total amount appropriated to the District for that fiscal year. Effective immediately.