Establishes the metropolitan transportation authority control board

S 2714 creates a five-member Metropolitan Transportation Authority (MTA) Control Board to address the MTA's fiscal crisis. The board, appointed by the governor with input from legislative leaders, must approve all major MTA projects and financing before the authority can commit funds or incur debt. Key provisions require the board to verify sufficient funding commitments - such as revenue projections or collateral - before approving projects, and to coordinate with the state comptroller within a seven-day review window. This bill directly affects the MTA's ability to fund infrastructure projects, aiming to ensure long-term fiscal stability and protect taxpayers from unsustainable costs.