Bill Text: NY S03549 | 2011-2012 | General Assembly | Amended

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Bill Title: Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-06-21 - COMMITTED TO RULES [S03549 Detail]

Download: New_York-2011-S03549-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        3549--A
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                   February 25, 2011
                                      ___________
       Introduced  by  Sen.  LANZA  -- 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 restriction on
         raising, extending, imposing and revising state taxes,  fees,  assess-
         ments, surcharges and levies
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 3 of section 92 of the state  finance  law,  as
    2  separately  amended  by  chapters  405  and  957 of the laws of 1981, is
    3  amended to read as follows:
    4    3. At the close of each fiscal year any cash surplus remaining in  the
    5  general  fund  over  and  above  the  norm for such fiscal year shall be
    6  transferred from or retained in such fund as hereinafter in this  subdi-
    7  vision  provided.  There  shall  be transferred to the tax stabilization
    8  reserve fund all of such surplus moneys, up to and including  an  amount
    9  equivalent  to  two-tenths  of  one per centum of such norm, unless such
   10  transfer would increase such reserve fund to an amount in excess of  two
   11  per  centum  of  the  amount  of the norm for such fiscal year, in which
   12  event such transfer shall be limited to such  amount  as  will  increase
   13  such reserve fund to such two per centum limitation. Any balance of such
   14  surplus  moneys,  thereafter  remaining  in  the  general fund, shall be
   15  retained in such fund and be available for the reduction of state taxes.
   16  IF A BALANCE OF SUCH SURPLUS MONEYS EXISTS IN THE  GENERAL  FUND,  THERE
   17  SHALL BE NO INCREASE, EXTENSION, IMPOSITION OR REVIVAL OF ANY STATE TAX,
   18  FEE, ASSESSMENT, SURCHARGE OR OTHER LEVY OR COLLECTION ENACTED IN OR FOR
   19  THE FOLLOWING STATE FISCAL YEAR.
   20    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02721-02-1