Bill Text: NY S00874 | 2013-2014 | General Assembly | Amended

New York Senate Bill 874 (Prior Session Legislation)

Bill Title: Provides that special revenue funds shall not be transferred or loaned temporarily without specific statutory authority.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO FINANCE [S00874 Detail]

Download: New_York-2013-S00874-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        874--A
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  Sens.  GRISANTI,  MARCELLINO  --  read twice and ordered
         printed, and when printed to be committed to the Committee on  Finance
         --  committee  discharged,  bill amended, ordered reprinted as amended
         and recommitted to said committee
       AN ACT to amend the state finance law, in relation to the  transfer  and
         temporary loan of special revenue funds
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 4 of the state finance law is amended by  adding  a
    2  new subdivision 11 to read as follows:
    3    11. (A) NO MONEY OR OTHER FINANCIAL RESOURCES OF SPECIAL REVENUE FUNDS
    4  SHALL  BE  PROVIDED FROM JULY FIRST, TWO THOUSAND FIFTEEN AND THEREAFTER
    5  FOR TRANSFER OR TEMPORARY LOAN WITHOUT SPECIFIC STATUTORY AUTHORITY  FOR
    6  SUCH  TRANSFER OR TEMPORARY LOAN. THE STATE COMPTROLLER SHALL BE AUTHOR-
    7  IZED TO LOAN SPECIAL REVENUE FUNDS MONEY ONLY AFTER  STATUTORY  APPROVAL
    8  FOR  SUCH  ACTION.  THE  DIRECTOR  OF  THE  DIVISION OF BUDGET SHALL NOT
    9  AUTHORIZE OR PROVIDE ANY CERTIFICATES OF AUTHORIZATION.  SUCH  STATUTORY
   10  AUTHORIZATION REQUIREMENT SHALL NOT BE SUPERSEDED, OVERRULED OR OBVIATED
   11  BY ANY PROVISION OF LAW CONTAINING NOTWITHSTANDING LANGUAGE.
   12    (B)  THE  DIVISION  OF  BUDGET,  IN  CONSULTATION WITH THE STATE COMP-
   13  TROLLER, SHALL DEVELOP PLANS FOR THE REPAYMENT OVER FIVE YEARS OF MONIES
   14  TRANSFERRED FROM SUCH SPECIAL REVENUE FUNDS TO THE GENERAL FUND.  BEFORE
   15  THE ADOPTION OF SUCH PLANS THE DIVISION OF BUDGET SHALL CONDUCT A SERIES
   16  OF PUBLIC HEARINGS IN CONJUNCTION WITH THE APPROPRIATE AGENCIES, OFFICES
   17  OR DEPARTMENTS ON SUCH PLANS. SUCH PLANS SHALL BE POSTED ON THE HOMEPAGE
   18  OF THE WEBSITE MAINTAINED BY SUCH DIVISION. IF THE  DIVISION  OF  BUDGET
   19  FAILS  TO PRODUCE SUCH PLANS WITHIN ONE HUNDRED EIGHTY DAYS OF AUTHORIZ-
   20  ING SUCH TRANSFERS, THEN THE DIVISION OF BUDGET SHALL PROVIDE NOTICE  OF
   21  SUCH FAILURE ON SUCH HOMEPAGE AND CONDUCT A TIMELY PUBLIC HEARING ON THE
   22  FAILURE  TO  PRODUCE SUCH PLANS. THE DIRECTOR OF THE BUDGET SHALL SUBMIT
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04608-02-3
       S. 874--A                           2
    1  SUCH PLANS TO THE GOVERNOR, THE TEMPORARY PRESIDENT OF THE  SENATE,  THE
    2  SPEAKER OF THE ASSEMBLY, THE CHAIRPERSON OF THE SENATE FINANCE COMMITTEE
    3  AND  THE  CHAIRPERSON  OF  THE  ASSEMBLY WAYS AND MEANS COMMITTEE WITHIN
    4  FIFTEEN DAYS OF ADOPTION.
    5    S 2. This act shall take effect immediately.