STATE OF NEW YORK
________________________________________________________________________
S. 9002--A A. 10002--A
SENATE - ASSEMBLY
January 20, 2026
___________
IN SENATE -- A BUDGET BILL, submitted by the Governor pursuant to arti-
cle seven of the Constitution -- read twice and ordered printed, and
when printed to be committed to the Committee on Finance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
IN ASSEMBLY -- A BUDGET BILL, submitted by the Governor pursuant to
article seven of the Constitution -- read once and referred to the
Committee on Ways and Means -- committee discharged, bill amended,
ordered reprinted as amended and recommitted to said committee
AN ACT making appropriations for the legal requirements of the state
debt service and lease purchase payments and other special contractual
obligations
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The several sums specified in this section, or so much
2 thereof as may be sufficient to accomplish in full the purposes desig-
3 nated by the appropriations, are hereby appropriated to be paid as here-
4 in provided for the funds and purposes specified and are made available
5 for the fiscal year beginning April 1, 2026.
6 DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND
7 Maintenance undistributed
8 For the legal requirements of principal, interest, and
9 related expenses on general obligation bonds, special
10 contractual and revenue bond obligations, as issued
11 pursuant to articles 5-C and 5-F of the state finance
12 law and payments for interest rate exchange and similar
13 agreements, in accordance with the following schedule .. 9,014,000,000
14 ==============
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD12652-02-6
S. 9002--A 2 A. 10002--A
1 SCHEDULE
2 GENERAL OBLIGATION PAYMENTS
3 The sum of $405,000,000, or so much thereof as may be
4 necessary, is hereby appropriated for payment by the
5 state comptroller for general obligation bonds issued in
6 connection with pure waters, environmental quality,
7 transportation capital facilities, rail preservation,
8 outdoor recreation development, energy conservation
9 through improved transportation, parks and recreation
10 land acquisition, rebuild New York through transporta-
11 tion infrastructure renewal, accelerated capacity and
12 transportation improvements of the nineties, clean
13 water/clean air, rebuild and renew New York transporta-
14 tion, smart schools purposes, and clean air, clean water
15 and green jobs purposes, in accordance with the follow-
16 ing schedule ............................................. 405,000,000
17 --------------
18 SCHEDULE
19 Debt Service Funds
20 General Debt Service Fund
21 General Debt Service Fund - 40150
22 Debt service payments (85551) (60400) ........ 400,000,000
23 Related expenses (80467) (51000) ............... 5,000,000
24 --------------
25 Total of schedule .......................... 405,000,000
26 ==============
27 SPECIAL CONTRACTUAL OBLIGATION PAYMENTS
28 The several sums, or so much thereof as may be sufficient
29 to accomplish in full the purposes designated by the
30 appropriations, are hereby appropriated and are, subject
31 to the issuance of certificates of approval of avail-
32 ability by the director of the budget, available for the
33 purpose of making payments for special contractual obli-
34 gations, in accordance with the following schedule ........ 56,000,000
35 --------------
36 SCHEDULE
37 Debt Service Funds
38 General Debt Service Fund
39 Debt Service Lease Payments Fund - 40151
40 For payment to the City University
41 Construction Fund for City University
42 senior colleges and for community
43 colleges. Moneys hereby appropriated, or
44 portions thereof, are for payments net of
45 all interest and investment earnings on
46 senior and community college payments and
47 other excess earnings held by the City
48 University Construction Fund, in accord-
S. 9002--A 3 A. 10002--A
1 ance with the following sub-schedule
2 (80622) (60400) ............................. 21,000,000
3 sub-schedule
4 City University senior
5 colleges ...................... 20,000,000
6 City University community
7 colleges ....................... 1,000,000
8 --------------
9 Total of sub-schedule ......... 21,000,000
10 --------------
11 For payment to the Gateway Development
12 Commission for the payment of principal
13 and interest pursuant to an agreement or
14 agreements between the Gateway Development
15 Commission and the State .................... 10,000,000
16 --------------
17 Total of debt service schedule ................ 31,000,000
18 --------------
19 For payment of related expenses in accord-
20 ance with the following schedule ............ 25,000,000
21 --------------
22 SCHEDULE
23 Debt Service Funds
24 General Debt Service Fund
25 Debt Service Lease Payments - 40151
26 Dormitory Authority (80634) (51000) ............ 5,000,000
27 Dormitory Authority Capital Expenses (80635)
28 (51000) ..................................... 15,000,000
29 Gateway Development Commission ................. 5,000,000
30 --------------
31 Total of schedule ........................... 25,000,000
32 --------------
33 Total of schedules ............................ 56,000,000
34 ==============
35 REVENUE BOND FINANCING AGREEMENT PAYMENTS
36 The several sums, or so much thereof as may be necessary,
37 are hereby appropriated for payment to the dormitory
38 authority, the environmental facilities corporation, the
39 housing finance agency, the thruway authority, and the
40 urban development corporation and are, subject to the
41 issuance of certificates of approval of availability by
42 the director of the budget, available for the purpose of
43 making financing agreement payments related to personal
44 income tax revenue note and bond obligations, as author-
45 ized pursuant to article 5-C of the state finance law
46 and in accordance with the following schedule .......... 7,050,000,000
S. 9002--A 4 A. 10002--A
1 --------------
2 SCHEDULE
3 Debt Service Funds
4 General Debt Service Fund
5 Revenue Bond Tax Fund - 40152
6 Debt Service Payment (80364) (60400) ....... 4,000,000,000
7 Subordinate Note Payments (80364) (60400) .. 3,000,000,000
8 Related Expenses (80602) (51000) .............. 50,000,000
9 --------------
10 Total of schedule ........................ 7,050,000,000
11 ==============
12 REVENUE BOND FINANCING AGREEMENT PAYMENTS
13 The several sums, or so much thereof as may be necessary,
14 are hereby appropriated for payment to the dormitory
15 authority, the thruway authority, and the urban develop-
16 ment corporation and are, subject to the issuance of
17 certificates of approval of availability by the director
18 of the budget, available for the purpose of making
19 financing agreement payments related to sales tax reven-
20 ue bond obligations, as authorized pursuant to article
21 5-F of the state finance law and in accordance with the
22 following schedule ..................................... 1,503,000,000
23 --------------
24 SCHEDULE
25 Debt Service Funds
26 General Debt Service Fund
27 Sales Tax Revenue Bond Tax Fund - 40154
28 Debt Service Payments (80364) (60400) ...... 1,500,000,000
29 Related Expenses (80602) (51000) ............... 3,000,000
30 --------------
31 Total of schedule ........................ 1,503,000,000
32 ==============
33 Total of schedule ........................................ 9,014,000,000
34 ==============
35 DEBT SERVICE FUND--HEALTH INCOME FUND
36 For debt service and related expenses in accordance with
37 the following schedule .................................... 11,000,000
38 --------------
39 SCHEDULE
40 Debt Service Funds
41 Department of Health Income Fund
42 NYC Veterans' Home Income Fund - 40302
43 The sum of $1,000,000, or so much thereof as
44 may be necessary of operating revenues
S. 9002--A 5 A. 10002--A
1 received from the New York City Veterans'
2 Home, is hereby appropriated for payment
3 by the state comptroller of all obli-
4 gations under the terms of agreements
5 between the health department and the
6 dormitory authority (80426) (60400) .......... 1,000,000
7 --------------
8 Debt Service Funds
9 Department of Health Income Fund
10 Health Income Fund - 40301
11 The sum of $4,000,000, or so much thereof as
12 may be necessary of operating revenues
13 received from department of health facili-
14 ties other than the New York City Veter-
15 ans' Home, is hereby appropriated for
16 payment by the state comptroller of all
17 obligations under the terms of agreements
18 between the health department and the
19 dormitory authority (80427) (60400) .......... 4,000,000
20 Related expenses (80425) (51000) ............... 3,000,000
21 Capital expenses (80424) (51000) ............... 3,000,000
22 --------------
23 Total of schedule ........................... 11,000,000
24 ==============
25 TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES
26 FINANCING RESERVE FUND
27 The sum of $17,000,000, or so much thereof as may be
28 necessary, is hereby appropriated for payment by the
29 state comptroller to the dormitory authority for the
30 purpose of meeting the terms of any contractual agree-
31 ments between the dormitory authority and participating
32 special act school districts listed in chapter 566 of
33 the laws of 1967, as amended, state-supported schools
34 for blind and deaf students and children with other
35 handicapping conditions pursuant to article 85 of the
36 education law, and private not-for-profit schools
37 approved by the commissioner of education pursuant to
38 article 89 of the education law, in accordance with the
39 following schedule ........................................ 17,000,000
40 --------------
41 SCHEDULE
42 Fiduciary Funds
43 School Capital Facilities Financing Reserve Fund
44 School Capital Facilities Financing Reserve Fund - 60050
45 Debt service payments (80418) (60400) ......... 15,000,000
46 Related expenses (80418) (51000) ............... 1,000,000
47 Capital expenses (80417) (51000) ............... 1,000,000
48 --------------
S. 9002--A 6 A. 10002--A
1 Total of schedule ........................... 17,000,000
2 ==============
3 DEBT REDUCTION RESERVE FUND
4 Debt Service Funds
5 Debt Reduction Reserve Fund
6 Debt Reduction Reserve Fund - 40001
7 The sum of $500,000,000, or so much thereof as may be
8 necessary, is hereby appropriated from the debt
9 reduction reserve fund for the purposes of principal,
10 interest, and related expenses, for retiring or defeas-
11 ing bonds previously issued, including any accrued
12 interest or other expenses related thereto, for any
13 state-related bonding program or programs and for trans-
14 fer, upon request of the director of the budget, to
15 various capital projects funds as designated by the
16 director of the budget for the funding of capital
17 projects, equipment acquisitions, or similar expenses
18 which have been authorized by law to be financed through
19 the issuance of bonds, notes, or other obligations
20 (80415) (60400) .......................................... 500,000,000
21 ==============
22 CONTINGENT AND OTHER APPROPRIATIONS
23 § 2. The several sums specified in this section, or so much thereof as
24 may be sufficient to accomplish in full the purposes designated by the
25 appropriations, are hereby appropriated to be paid as herein provided
26 for the funds and purposes specified and are made available for the
27 fiscal year beginning April 1, 2026.
28 GENERAL FUND--STATE PURPOSES ACCOUNT
29 General Fund
30 State Purposes Account - 10050
31 The sum of $20,000,000, or so much thereof as may be
32 necessary, is hereby appropriated from the general fund
33 to the credit of the state purposes account solely for
34 the purpose of making payments of rebates to the federal
35 government to maintain the exemption from federal income
36 taxation of the interest paid to the holders of state
37 obligations issued pursuant to sections 55 and 57 of the
38 state finance law (80414) (51000) ......................... 20,000,000
39 ==============
40 General Fund
41 State Purposes Account - 10050
42 The sum of $225,000,000, or so much thereof as may be
43 necessary, is hereby appropriated from the general fund
44 to the credit of the state purposes account solely for
45 the purpose of redeeming general obligation bonds issued
46 by the state of New York, provided, however, that the
S. 9002--A 7 A. 10002--A
1 amount to be expended from this appropriation shall be
2 limited to the amount, as determined by the comptroller,
3 to be necessary to maintain the exemption from federal
4 taxation of the interest paid to the holders of state
5 obligations issued pursuant to sections 55 and 57 of the
6 state finance law (80413) (60400) ........................ 225,000,000
7 ==============
8 ALL FUNDS
9 For payment of principal and interest, including but not
10 limited to reserve fund credit facilities on variable
11 rate obligations and interest rate exchange and similar
12 agreements, for state-supported debt or for transfer to
13 any other appropriation, in accordance with the follow-
14 ing schedule ............................................. 851,000,000
15 --------------
16 SCHEDULE
17 All Funds
18 Debt service payments (80626) (60400) ........ 800,000,000
19 Related expenses (80626) (51000) .............. 50,000,000
20 Interest rate exchange and similar agree-
21 ments (80359) (60400) ........................ 1,000,000
22 --------------
23 Total of schedule .......................... 851,000,000
24 ==============
