Source: Bloomberg -

Governors Chris Christie and Andrew Cuomo vetoed legislation passed unanimously in both of their state legislatures that would change the management structure at the Port Authority of New York & New Jersey.

Instead, Christie, New Jersey’s Republican governor, and Cuomo, a New York Democrat, said they accepted revisions recommended by a special panel to reorganize the agency, and urged their respective legislatures and the Port Authority to implement them, according to a joint statement released today.

The report’s recommendations include consolidating the agency under a single chief executive officer; the appointment of a chief ethics and compliance officer; making public-records rules consistent with state laws; divesting real-estate holdings that aren’t vital to the agency’s mission, including commercial properties at the World Trade Center; and building a new bus terminal in Manhattan, according to the governors’ statement.

New Jersey Assemblywoman Holly Schepisi, a Republican from Westwood who served on the panel investigating the closings and sponsored the bill, said she was surprised by the governors’ moves.

“Am I disappointed that the bill was vetoed? Yes,” she said in a telephone interview after the announcement. “A lot of us worked very hard on it from both sides of the aisle. That being said, I’m going to reserve judgment on the overall rationale and the reason until I have a chance to review” the report.

The bills would have directed the Port Authority to file annual audits, protect whistle-blowers and require officials to appear before legislative committees. They also would have ordered the authority to hold at least six public hearings before raising tolls, required commissioners to file financial-disclosure statements and maintain records of all lobbying contacts, and made the authority subject to state open-records laws.