Updates value capture mechanisms for NYC and the MTA

This bill updates how New York City and local municipalities can capture value from mass transportation projects, making transparency requirements permanent. It requires cities to publish two analyses before public hearings: property value projections showing increased tax revenue from projects, and transportation service benefits, both in machine-readable formats. Municipalities may then use specific value-capture methods like tax increment financing, special transportation assessments, or land value taxation to fund projects, with revenue limits tied to actual property benefits. The bill directly affects NYC and local governments contracting with the MTA to finance transportation capital projects benefiting specific districts.