NY S05660

Increases the maximum surcharge rate that the Sandy Hook pilots surcharge board may set from $125 per ship to $300 per ship.

Establishes that the capital expense fund surcharge can be used for funding capital expenditures including pilot boat repairs, bulkhead and pier rebuilding, new pilot launches, and extraordinary capital expenses approved by the surcharge board.

Authorizes the surcharge board to reduce or suspend the surcharge if monies for pilot capital needs are obtained from sources other than tariffs and surcharges.

Limits surcharge rate increases to no more than 10 percent of the maximum authorized amount per year for the two years following the act's effective date, unless the surcharge board declares an emergency need.

Takes effect immediately upon enactment.