Bill Text: NY S04118 | 2021-2022 | General Assembly | Introduced

New York Senate Bill 4118 (Prior Session Legislation)

Introduced

Bill Title: Relates to investment of moneys in the state fish and game trust account.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO FINANCE [S04118 Detail]

Download: New_York-2021-S04118-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          4118

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 2, 2021
                                       ___________

        Introduced  by  Sens.  GRIFFO, O'MARA -- read twice and ordered printed,
          and when printed to be committed to the Committee on Finance

        AN ACT to amend the state finance law,  in  relation  to  investment  of
          moneys in the state fish and game trust account

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

     1    Section 1. Subparagraph (i) of  paragraph  4  of  subdivision  (a)  of
     2  section  83 of the state finance law, as amended by section 1 of part AA
     3  of chapter 58 of the laws of 2015, is amended to read as follows:
     4    (i) There is hereby created a special account within the  conservation
     5  fund  to be known as the state fish and game trust account to consist of
     6  all moneys received by the state from  the  sale  of  lifetime  hunting,
     7  fishing,  and trapping licenses, and lifetime archery and muzzle-loading
     8  privileges pursuant to section 11-0702 of the environmental conservation
     9  law except those moneys deposited in the habitat conservation and access
    10  account pursuant to section eighty-three-a of  this  [chapter]  article.
    11  The state comptroller shall invest the moneys in such account in securi-
    12  ties  as  defined by section ninety-eight-a of this article or as other-
    13  wise deemed appropriate by the comptroller to maximize  income  for  the
    14  account consistent with the provisions of subdivision b of section thir-
    15  teen of the retirement and social security law. Any income earned by the
    16  investment of such moneys, except income transferred to the conservation
    17  fund pursuant to subparagraph (iii) of this paragraph, shall be added to
    18  and  become  a  part  of,  and  shall  be  used for the purposes of such
    19  account.
    20    § 2. This act shall take effect on the thirtieth day  after  it  shall
    21  have become a law. Effective immediately, the addition, amendment and/or
    22  repeal  of  any  rule  or regulation necessary for the implementation of
    23  this act on its effective date are authorized to be made  and  completed
    24  on or before such effective date.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04101-01-1