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S00668 Summary:

BILL NOS00668
 
SAME ASNo Same As
 
SPONSORKENNEDY
 
COSPNSRDILAN
 
MLTSPNSR
 
Amd 10-c, Hway L
 
Relates to indexing of appropriations; provides that on and after January first, two thousand nineteen and on each following January first, the commissioner shall index the level of such appropriations for subsequent state fiscal years based on the national highway construction cost index for the most recent twelve month period; provides that the commissioner shall increase appropriations by the rate of inflation for the most recent twelve month period that is available at the time the adjusted rate is calculated and announced using the national highway construction cost index, or a successor index as calculated by the United States federal highway administration, if such rate of inflation is greater than zero percent.
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S00668 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           668
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                     January 4, 2017
                                       ___________
 
        Introduced  by  Sens.  KENNEDY, DILAN -- read twice and ordered printed,
          and when printed to be committed to the Committee on Finance
 
        AN ACT to amend the highway law, in relation to indexing appropriations
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Subdivision  2  of  section  10-c  of the highway law, as
     2  amended by chapter 355 of the laws  of  1999,  is  amended  to  read  as
     3  follows:
     4    2.  On  or  before  the twenty-fifth day of April, June, September and
     5  November of each state fiscal year commencing with the state fiscal year
     6  beginning on April first, nineteen hundred eighty-four  there  shall  be
     7  distributed  and  paid to counties, cities, towns and villages an amount
     8  equal to the moneys  appropriated  for  the  purposes  of  this  section
     9  divided  by  the number of payment dates in that state fiscal year. Such
    10  amounts shall be distributed and paid pursuant to subdivision  three  of
    11  this  section.   Provided, however, that on and after January first, two
    12  thousand nineteen and on each following January first, the  commissioner
    13  shall index the level of such appropriations for subsequent state fiscal
    14  years based on the national highway construction cost index for the most
    15  recent  twelve  month  period. The commissioner shall increase appropri-
    16  ations by the rate of inflation for the most recent twelve month  period
    17  that  is  available  at  the  time  the  adjusted rate is calculated and
    18  announced using the national  highway  construction  cost  index,  or  a
    19  successor  index  as  calculated  by  the  United States federal highway
    20  administration, if such rate of inflation is greater than zero percent.
    21    § 2. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00648-01-7
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