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A05134 Summary:

BILL NOA05134
 
SAME ASSAME AS S00365
 
SPONSORKearns (MS)
 
COSPNSRHarris
 
MLTSPNSRGiglio, Raia
 
Add Art 17 §§244 - 246, amd §92-cc, St Fin L
 
Establishes an annual spending growth cap and increases the maximum capacity of the rainy day fund.
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A05134 Actions:

BILL NOA05134
 
02/06/2017referred to ways and means
12/15/2017enacting clause stricken
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A05134 Committee Votes:

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A05134 Floor Votes:

There are no votes for this bill in this legislative session.
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A05134 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5134
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 6, 2017
                                       ___________
 
        Introduced  by M. of A. KEARNS -- Multi-Sponsored by -- M. of A. RAIA --
          read once and referred to the Committee on Ways and Means
 
        AN ACT to amend the state finance law, in  relation  to  establishing  a
          spending cap and increasing the maximum capacity of the rainy day fund
 
          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 article 17
     2  to read as follows:
     3                                 ARTICLE 17
     4                       ANNUAL SPENDING GROWTH CAP ACT
     5  Section 244. Definitions.
     6          245. Establishment of annual spending growth cap.
     7          246. Provisions regarding declaration of emergency.
     8    § 244. Definitions. As used in this article, the following terms shall
     9  have the following meanings, unless otherwise specified:
    10    1. "Annual spending growth cap" shall mean a percentage determined  by
    11  adding  the  inflation rates from each of the three calendar years imme-
    12  diately prior to the commencement of a given fiscal year and then divid-
    13  ing that sum by three.
    14    2. "State operating funds spending" shall mean annual disbursements of
    15  all governmental fund types included in the cash-basis financial plan of
    16  the state,  excluding  disbursements  from  federal  funds  and  capital
    17  project funds.
    18    3.  "Inflation  rate"  shall mean the percentage change in the twelve-
    19  month average of the consumer price index for  all  urban  consumers  as
    20  published  by  the  United  States  department of labor, bureau of labor
    21  statistics or any successor agency for a given calendar year compared to
    22  the prior calendar year.
    23    4.  "Executive budget" shall mean the budget submitted annually by the
    24  governor pursuant to section one of article VII of the  state  constitu-
    25  tion.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02919-02-7

        A. 5134                             2
 
     1    5.   "State budget as enacted" shall mean the budget acted upon by the
     2  legislature in a given fiscal year, as subject to section four of  arti-
     3  cle VII of the state constitution and section seven of article IV of the
     4  state constitution.
     5    6.  "Emergency" shall mean an extraordinary, unforeseen, or unexpected
     6  occurrence, or combination of circumstances, including but  not  limited
     7  to a natural disaster, invasion, terrorist attack, or economic calamity.
     8    § 245. Establishment of annual spending growth cap.  1. There is here-
     9  by established an annual spending growth cap.
    10    2.  The  governor  shall not submit, and the legislature shall not act
    11  upon, a budget that contains a percentage increase over the prior fiscal
    12  year in state operating funds spending which exceeds the annual spending
    13  growth cap.
    14    3. The governor shall certify in writing that  state  operating  funds
    15  spending  in  the  executive  budget does not exceed the annual spending
    16  growth cap. If final inflation rate data for the prior calendar year  is
    17  not  yet available at the time the governor submits his or her executive
    18  budget, he or she shall furnish a  reasonable  estimate  of  such  prior
    19  calendar year inflation rate.
    20    4.  The  comptroller  shall provide, within five days of action by the
    21  legislature upon the budget, a determination as  to  whether  the  state
    22  operating  funds  spending  as  set forth in the state budget as enacted
    23  exceeds the annual spending growth cap.
    24    5. If the comptroller finds that state operating funds spending as set
    25  forth in the state budget as enacted exceeds the annual spending  growth
    26  cap, the governor shall take corrective action to ensure that funding is
    27  limited to the amount of the annual spending cap.
    28    § 246. Provisions regarding declaration of emergency.  1. Upon a find-
    29  ing  of an emergency by the governor, he or she may declare an emergency
    30  by an executive order which shall set forth the reasons for such  decla-
    31  ration.
    32    2.  Based  upon  such  declaration,  the  governor may submit, and the
    33  legislature may authorize,  by  a  two-thirds  supermajority,  a  budget
    34  containing  a  percentage  increase  over the prior fiscal year in state
    35  operating funds spending that exceeds the annual spending growth cap.
    36    § 2. Subdivision 2 of section 92-cc  of  the  state  finance  law,  as
    37  amended  by section 12-a of part I of chapter 60 of the laws of 2015, is
    38  amended to read as follows:
    39    2. Such fund shall have a maximum balance not to exceed [five] ten per
    40  centum of the aggregate amount projected to be disbursed from the gener-
    41  al fund during the fiscal year immediately  following  the  then-current
    42  fiscal  year.  At  the  request of the director of the budget, the state
    43  comptroller shall transfer monies to the rainy day reserve  fund  up  to
    44  and including an amount equivalent to seventy-five one-hundredths of one
    45  per  centum  of  the aggregate amount projected to be disbursed from the
    46  general fund during the then-current fiscal year, unless  such  transfer
    47  would increase the rainy day reserve fund to an amount in excess of five
    48  per  centum  of  the aggregate amount projected to be disbursed from the
    49  general fund during the fiscal year immediately following the  then-cur-
    50  rent  fiscal year, in which event such transfer shall be limited to such
    51  amount as will increase the rainy day reserve  fund  to  such  five  per
    52  centum limitation.
    53    §  3.  This  act shall take effect on the thirtieth day after it shall
    54  have become a law.
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