Bill Text: NY S04836 | 2021-2022 | General Assembly | Introduced
Bill Title: Requires the director of the budget to provide monthly budget updates to the legislature including a detailed description of revenue shortfalls, spending overages, and any proposed adjustments to appropriations or disbursements pursuant to authorization granted in the two thousand twenty-one-twenty-two enacted budget.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-01-05 - REFERRED TO FINANCE [S04836 Detail]
Download: New_York-2021-S04836-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4836 2021-2022 Regular Sessions IN SENATE February 16, 2021 ___________ Introduced by Sen. BIAGGI -- 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 requiring the director of the budget to provide monthly budget updates to the legis- lature; and providing for the repeal of such provisions upon the expi- ration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The state finance law is amended by adding a new section 2 22-d to read as follows: 3 § 22-d. Monthly financial updates. 1. On or before the first of each 4 month, the director of the budget shall provide monthly updates on the 5 economic and revenue outlook of the state. Such updates shall include, 6 but not be limited to, a detailed description of revenue shortfalls, 7 spending overages, cash flows, borrowing, and any proposed adjustments 8 to appropriations or disbursements pursuant to authorization granted in 9 the two thousand twenty-one--twenty-two enacted budget. A copy of such 10 updates shall be sent to the temporary president of the senate and the 11 speaker of the assembly. Such updates shall also be posted conspicuous- 12 ly on the division of budget's website. 13 2. The director of the budget shall provide a means by which any 14 stakeholder or member of the public may submit comments or suggestions 15 on such updates. The director of the budget shall take such comments and 16 suggestions into consideration when making any adjustments to appropri- 17 ations and disbursements pursuant to authorization granted in the two 18 thousand twenty-one--twenty-two enacted budget. 19 3. The director of the budget may provide any additional updates as he 20 or she deems appropriate. Such additional updates shall be done pursuant 21 to the process established in this section. 22 § 2. This act shall take effect immediately and shall expire and be 23 deemed repealed April 1, 2022. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01706-01-1