Taxicab Medallion Disclosure Requirement
Rule status: Adopted
Effective date: November 6, 2022
Proposed Rule Full Text
Adopted Rule Full Text
Adopted rule summary:
The Taxi and Limousine Commission (“TLC”) is promulgating amendments to its rules governing Medallion Taxicab Licenses implementing Local Law 109 of 2020 which creates an annual disclosure requirement for each person that has any interest in a taxicab medallion.
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Online comments: 1
I am a medallion owner, who agrees with proposed the TLC amendments to the rules that would create a taxi flat fare of $39 for trips between LaGuardia Airport and Manhattan, south of West 110th St and East
96th St, and increase the taxi flat fare for trips between Kennedy Airport and Manhattan to $65. In addition, I would like the TLC increased a fare for all yellow taxis by 20% because the last time the fare was increased on Sept. 6, 2012 year, almost 10-years ago. It is time comes to increase a fare for all yellow taxi medallion as the expenses of riding a yellow taxi medallion have risen significantly with an inflation right now close to 8%. The medallion owners are facing default to credit union because they are not able to pay their enormous medallion loans to credit unions.