Bill Text: NY A04138 | 2021-2022 | General Assembly | Introduced

New York Assembly Bill 4138 (Prior Session Legislation)

Introduced

Bill Title: Relates to requiring a certain percentage of the dedicated highway and bridge trust fund's revenue be disbursed on a pay-as-you-go basis for capital projects.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2021-12-10 - enacting clause stricken [A04138 Detail]

Download: New_York-2021-A04138-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          4138

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 1, 2021
                                       ___________

        Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
          Committee on Ways and Means

        AN ACT to amend the state finance law, in relation  to  capital  project
          spending by the dedicated highway and bridge trust fund

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 89-b of the state finance law is amended by  adding
     2  a new subdivision 12 to read as follows:
     3    12.  (a) By the year two thousand twenty-four, thirty percent of dedi-
     4  cated revenue remaining after  debt  service  has  been  paid  shall  be
     5  disbursed  on  a pay-as-you-go basis from the fund for capital projects.
     6  By the year two thousand thirty,  forty  percent  of  dedicated  revenue
     7  remaining  after debt service has been paid shall be disbursed on a pay-
     8  as-you-go basis from the fund for capital  projects.  By  the  year  two
     9  thousand  forty,  fifty percent of all dedicated revenue remaining after
    10  debt service has been paid shall be disbursed on a  pay-as-you-go  basis
    11  from the fund for capital projects.
    12    (b)  During  years  in which total dedicated revenue is twenty percent
    13  less than the previous year, these disbursement  requirements  shall  be
    14  deemed waived for that year.
    15    § 2. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03036-01-1