Establishes the water resiliency projects fund for flood mitigation, stormwater mitigation and other water related resiliency projects; makes an appropriation therefor.
STATE OF NEW YORK
________________________________________________________________________
9121
IN ASSEMBLY
February 7, 2024
___________
Introduced by M. of A. OTIS -- read once and referred to the Committee
on Environmental Conservation
AN ACT to amend the state finance law, in relation to establishing the
water resiliency projects fund; and making an appropriation therefor
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 99-rr to read as follows:
3 § 99-rr. Water resiliency projects fund. 1. There is hereby estab-
4 lished in the joint custody of the state comptroller and commissioner of
5 taxation and finance a special fund to be known as the "water resiliency
6 projects fund".
7 2. Such fund shall consist of all moneys appropriated thereto from any
8 other fund or source pursuant to law. Nothing contained in this section
9 shall prevent the state from receiving grants, gifts or bequests for the
10 purposes of the fund as defined in this section and depositing them into
11 the fund according to law.
12 3. All moneys deposited in the water resiliency projects fund shall be
13 available for projects undertaken for flood mitigation, stormwater miti-
14 gation and other water-related resiliency projects.
15 4. Moneys shall be payable from the fund on the audit and warrant of
16 the comptroller on vouchers approved and certified by the commissioner
17 of environmental conservation.
18 § 2. The sum of five hundred million dollars ($500,000,000), or so
19 much thereof as may be necessary, is hereby appropriated to the water
20 resiliency projects fund established pursuant to section 99-rr of the
21 state finance law from any moneys in the state treasury in the New York
22 climate action fund established pursuant to section 99-qq of the state
23 finance law not otherwise appropriated for the purposes of carrying out
24 the provisions of this act. Such sum shall be payable on the audit and
25 warrant of the state comptroller on vouchers certified or approved by
26 the commissioner of environmental conservation in the manner provided by
27 law.
28 § 3. This act shall take effect on the one hundred eightieth day after
29 it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13630-02-3
