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Adjusted Executive Legislative
Approp. Request Approp.
1999-00 2000-01 2000-01 Change
DEBT SERVICE
General Fund 250,250,000 248,500,000 248,500,000 0
Fiduciary 25,000,000 30,000,000 30,000,000 0
Debt Service Fund 3,895,500,000 4,072,550,000 4,082,650,000 10,100,000
Internal Service Fund 210,000,000 205,000,000 205,000,000 0
Capital Projects Fund - Other
366,500,000 950,000,000 950,000,000 0
Total for DEBT SERVICE:
4,747,250,000 5,506,050,00 05,516,150,000 10,100,000
General Fund
Local Assistance Account
State Purposes Account
Payments of Rebates to
Federal Government 10,000,000 15,000,000 15,000,000 0
Interest on Short Term
Notes and Bond
Anticipation Notes 15,250,000 8,500,000 8,500,000 0
Redemption of Serial Bonds
225,000,000 225,000,000 225,000,000 0
Fiduciary
School Capital Facilities Financing Reserve Fund
Principal and Interest on
Serial Bonds 25,000,000 30,000,000 30,000,000 0
Debt Service Fund
Mental Health Services Fund
Financing Agreement 345,000,000 360,000,000 360,000,000 0
General Debt Service Fund
Principal and Interest on
Serial Bonds 741,500,000 703,000,000 703,000,000 0
Financing Agreements
2,031,100,000 2,242,200,000 2,250,800,000 8,600,000
Lease Purchase Payments57,900,000 61,400,000 62,900,000 1,500,000
Housing Debt Fund
Principal and Interest on
Serial Bonds 36,000,000 31,000,000 31,000,000 0
Health Income Fund
Financing Agreements 36,250,000 37,250,000 37,250,000 0
Financing Agreements 1,750,000 2,000,000 2,000,000 0
Emergency Highway Reconditioning and Preservation Fund
Financing Agreements 32,000,000 32,000,000 32,000,000 0
State University Dormitory Income Fund
Financing Agreements 45,000,000 53,500,000 53,500,000 0
Emergency Highway Construction and Reconstruction Fund
Financing Agreements 32,000,000 32,000,000 32,000,000 0
Local Government Assistance Tax Fund
Financing Agreements537,000,000 518,200,000 518,200,000 0
Internal Service Fund
Centralized Services Fund
Financing Agreements210,000,000 205,000,000 205,000,000 0
Capital Projects Fund - Other
Debt Reduction Reserve Fund
Debt Reduction 0 500,000,000 500,000,000 0
Dedicated Highway and Bridge Trust Fund
Financing Agreements366,500,000 450,000,000 450,000,000 0
LEGISLATIVE ACTION
Legislative Additions
The Legislature increases the appropriation from the General Debt
Service Fund by $1,500,000 to reflect bonds to be issued for the
Judicial Training Center at Pace University.
The Legislature increases the appropriation from the General Debt
Service Fund by $500,000 to reflect an estimated increase in bonds to
be issued for housing programs by the Housing Finance Agency, as
supplemented by the Legislature.
The Legislature increases the appropriation from the General Debt
Service Fund by $3,000,000 to reflect an estimated increase in the
costs of debt service on bonds to be issued for economic development
and parks and recreation projects by the Urban Development
Corporation.
The Legislature increases the appropriation from the General Debt
Service Fund by $1,500,000 to reflect an increase in the costs of debt
service on bonds issued for the Upstate Community Colleges by the
Dormitory Authority.
The Legislature increases the appropriation from the General Debt
Service Fund by $2,000,000 to reflect an increase in bonds to be sold
by the Dormitory Authority for biomedical research and manufacturing
facilities.
The Legislature increases the appropriation from the General Debt
Service Fund by $1,600,000 to reflect an increase in the costs of debt
service due to market conditions and shortened maturity of bonds sold
by the Environmental Facilities Corporation.
The Legislature appropriates $500,000,000 from the Debt Reduction
Reserve Fund for the purpose of retiring or defeasing bonds and/or to
increase pay-as-you-go capital spending.
Debt Reform Act of 2000
The Legislature enacts the Debt Reform Act of 2000 for the purpose of
establishing a comprehensive debt reform plan that provides statutory
changes to the State`s borrowing practices.
The key points of the plan are as follow:
-- Cap on all new state-supported debt of 4 percent of New York
State Personal Income, phased in starting at seventy five
hundredths of one percent in State Fiscal Year 2000-01;
-- Cap on all new debt service payments of 5 percent of New York
State`s All Fund Receipts, phased in starting at seventy five
hundredths of one percent in State Fiscal Year 2000-01;
-- Restrict the issuance of debt to capital works and purposes;
and
-- Limit the terms of all new state-supported debt to a maximum
maturity of 30 years.
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