A07440 Summary:
| BILL NO | A07440 |
| SAME AS | SAME AS S01256 |
| SPONSOR | Hawley |
| COSPNSR | McDonough, DeStefano |
| MLTSPNSR | |
| Add §73-a, St Fin L | |
| Prohibits the transfer of unexpended moneys from funds receiving moneys from a dedicated fee into any other fund. | |
A07440 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 7440 2025-2026 Regular Sessions IN ASSEMBLY March 27, 2025 ___________ Introduced by M. of A. HAWLEY -- read once and referred to the Committee on Ways and Means AN ACT to amend the state finance law, in relation to prohibiting the transfer of unexpended moneys from funds receiving moneys from a dedi- cated fee into any other 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 section 2 73-a to read as follows: 3 § 73-a. Transfer of funds. Notwithstanding any provision of law to 4 the contrary, unexpended moneys in any fund that: 5 1. receives revenues from a dedicated fee; 6 2. provides that moneys in the fund shall be kept separate from and 7 shall not be commingled with other moneys in the custody of the comp- 8 troller; and 9 3. provides that moneys in the fund shall be expended only for the 10 purpose designated in the fund 11 shall not be transferred to any other fund or account or used for any 12 purpose other than that designated by the fund. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02545-01-5