Bill Text: NY S07360 | 2011-2012 | General Assembly | Introduced
Bill Title: Prohibits increase in state general fund spending in any fiscal year following a fiscal year in which the state has a surplus.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2012-05-02 - REFERRED TO FINANCE [S07360 Detail]
Download: New_York-2011-S07360-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
7360
I N S E N A T E
May 2, 2012
___________
Introduced by Sen. BALL -- 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 establishing a
state expenditure limitation for certain state fiscal years
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 S 22-D. SPENDING LIMITATION. IN ANY FISCAL YEAR THAT IMMEDIATELY
4 FOLLOWS A FISCAL YEAR IN WHICH THE CASH SURPLUS FROM THE GENERAL FUND
5 WAS TRANSFERRED TO THE TAX STABILIZATION RESERVE FUND PURSUANT TO
6 SECTION NINETY-TWO OF THIS CHAPTER, THE GOVERNOR SHALL NOT SUBMIT, AND
7 THE LEGISLATURE SHALL NOT ACT UPON, A BUDGET IN WHICH STATE SPENDING IN
8 SUCH FISCAL YEAR EXCEEDS THE AMOUNT OF SPENDING IN THE IMMEDIATELY PRIOR
9 FISCAL YEAR IN WHICH SUCH SURPLUS OCCURRED. FOR PURPOSES OF THIS
10 SECTION, STATE SPENDING SHALL NOT INCLUDE AMOUNTS APPROPRIATED TO OR
11 DISTRIBUTED FROM ANY FUND OF THE STATE OTHER THAN THE GENERAL FUND.
12 S 2. This act shall take effect immediately and shall apply to state
13 fiscal years beginning on and after April 1, 2013.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15117-01-2
