Bill Text: NY S07875 | 2009-2010 | General Assembly | Introduced
Bill Title: Requires the comptroller to transfer money into the environmental protection fund whenever such fund has insufficient money to meet its obligations.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2010-05-19 - REFERRED TO FINANCE [S07875 Detail]
Download: New_York-2009-S07875-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 7875 I N S E N A T E May 19, 2010 ___________ Introduced by Sen. MARCELLINO -- 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 the environmental protection fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Subdivision 9 of section 92-s of the state finance law, as 2 amended by section 1 of part B of chapter 59 of the laws of 2008, is 3 amended to read as follows: 4 9. Notwithstanding any other law to the contrary and in accordance 5 with section four of this chapter, the comptroller is hereby authorized 6 at the direction of the director of the division of the budget to trans- 7 fer moneys from the general fund to the environmental protection fund 8 for the purpose of maintaining the solvency of the environmental 9 protection fund. If, in any fiscal year, moneys in the environmental 10 protection fund are deemed insufficient by the director of the division 11 of the budget [to meet actual and anticipated disbursements from enacted 12 appropriations or reappropriations made pursuant to this section], the 13 comptroller shall [at the direction of the director of the division of 14 the budget,] transfer SUFFICIENT MONEYS from the general fund to the 15 environmental protection fund [moneys sufficient to meet such disburse- 16 ments]. Such transfers shall be made only upon certification [of need] 17 by the director of the division of the budget, with copies of such 18 certification filed with the chairperson of the senate finance commit- 19 tee, the chairperson of the assembly ways and means committee and the 20 state comptroller. The aggregate amount of all transfers shall not 21 exceed four hundred forty-seven million one hundred seventy-one thousand 22 dollars. FOR THE PURPOSES OF THIS SUBDIVISION, THE TERM INSUFFICIENT 23 SHALL MEAN THAT THERE IS NOT AN ADEQUATE CASH BALANCE TO FINANCE ALL 24 CURRENT FISCAL YEAR APPROPRIATIONS AND ANY OUTSTANDING PRIOR YEAR OBLI- 25 GATIONS. 26 S 2. This act shall take effect April 1, 2012. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15430-01-0