Bill Text: NY S04575 | 2017-2018 | General Assembly | Introduced

New York Senate Bill 4575 (Prior Session Legislation)

Introduced

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

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Engrossed - Dead) 2018-06-04 - referred to environmental conservation [S04575 Detail]

Download: New_York-2017-S04575-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          4575
                               2017-2018 Regular Sessions
                    IN SENATE
                                    February 17, 2017
                                       ___________
        Introduced  by  Sen.  GRIFFO -- 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.  The  state
    11  comptroller  shall  invest  the  moneys in such account in securities as
    12  defined by section ninety-eight-a of this article or as otherwise deemed
    13  appropriate by the  comptroller  to  maximize  income  for  the  account
    14  consistent  with  the provisions of subdivision b of section thirteen of
    15  the retirement and social security law. Any income earned by the invest-
    16  ment of such moneys, except income transferred to the conservation  fund
    17  pursuant  to subparagraph (iii) of this paragraph, shall be added to and
    18  become a part of, and shall be used for the purposes of such account.
    19    § 2. This act shall take effect on the thirtieth day  after  it  shall
    20  have  become  a law; provided, however, that, effective immediately, the
    21  addition, amendment and/or repeal of any rule  or  regulation  necessary
    22  for  the implementation of this act on its effective date are authorized
    23  and directed to be made and completed on or before such effective date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08984-01-7