-Allows the permit system to operate within a one-mile radius of the state capitol building and for the specific boundaries to be described in a local ordinance adopted by the city council (Sec. 2).
-Prohibits the permit system from being implemented on streets where adjacent properties are zoned for commercial, office, or retail use (Sec. 2).
-Establishes certain guidelines for the permit system, including that it should describe the times and dates during which permit requirements are in effect, that not less than 20 percent of spaces within the permit area should be short-term parking available to non-residents, and that not more than 2,750 of the approximately 9,000 parking spaces should be set aside for resident parking by permit (Sec. 2).
-Provides that the bill takes effect immediately, and that it expires 730 days after the city of Albany finalizes and implements its program (Sec. 3).