Enacts the statewide transportation authority reinvestment (STAR) act

This bill, S 4371 (STAR Act), removes a fee that mass transit authorities pay when issuing bonds. It directly affects major agencies like the MTA, NYC Transit, Triborough Bridge Authority, and regional transit authorities across New York State. The key provision exempts these authorities from paying up to 1% of bond value as a fee, freeing funds that can now be used for maintaining service or funding infrastructure projects instead of paying the state. The change takes effect immediately upon enactment.