Authorizes the city of New York to provide for a residential parking permit system

This bill authorizes the City of New York to create a residential parking permit system in specific neighborhoods of Brooklyn to address traffic hazards, congestion, and pollution. Under the new rules, residents in designated areas would need to purchase permits to park on local streets, while commercial zones, metered spaces, and vehicles registered under specific programs would remain exempt. The legislation mandates that at least 20% of parking spots stay open for non-residents with short-term access and requires all permit fees to be collected and transferred to the city's mass transit agency. A public hearing must be held before any local ordinance is adopted, and the authority to implement this system is set to expire on December 1, 2030.