S T A T E O F N E W Y O R K
________________________________________________________________________
5687
2009-2010 Regular Sessions
I N A S S E M B L Y
February 17, 2009
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Introduced by M. of A. CONTE, BURLING, FINCH, GIGLIO, KOLB, McDONOUGH,
RAIA, SPANO, TOBACCO, THIELE, TOWNSEND, WALKER, SALADINO -- Multi-
Sponsored by -- M. of A. BARCLAY, CROUCH, DUPREY, MOLINARO, SAYWARD --
read once and referred to the Committee on Ways and Means
AN ACT to amend the state finance law, in relation to allocating a
percentage of any state revenue surplus to the school tax relief fund,
and creating a fund for elderly pharmaceutical insurance coverage
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 97-rrr of the state finance law, as amended by
section 8 of part F of chapter 109 of the laws of 2006, is amended by
adding a new subdivision 3-a to read as follows:
3-A. FOR THE PURPOSE OF THIS SUBDIVISION "TOTAL STATE REVENUES" SHALL
MEAN ALL REVENUES RECEIVED BY THE STATE DURING ANY FISCAL YEAR WHICH ARE
INCLUDED IN THE CASH BASIS FINANCIAL PLAN OF THE STATE, EXCLUDING THE
PROCEEDS OF GENERAL OBLIGATION BONDS AND BOND ANTICIPATION NOTES AUTHOR-
IZED BY THE VOTERS OF THE STATE AND ISSUED BY THE COMPTROLLER PURSUANT
TO SECTION TEN OR ELEVEN OF ARTICLE SEVEN OF THE STATE CONSTITUTION,
EXCLUDING FEDERAL GRANTS RECEIVED BY THE STATE AND EXCLUDING AMOUNTS
NECESSARY FOR THE PAYMENT OF TAX REFUNDS DURING SUCH FISCAL YEAR.
NOTWITHSTANDING ANY OTHER CONTRARY PROVISION OF LAW, IN ANY STATE FISCAL
YEAR WHEN TOTAL STATE REVENUES ARE IN EXCESS OF THE STATE SPENDING,
TWENTY-FIVE PERCENT OF SUCH SURPLUS REVENUES SHALL BE CREDITED OR TRANS-
FERRED, PURSUANT TO APPROPRIATION, TO THE SCHOOL TAX RELIEF FUND ESTAB-
LISHED BY THIS SECTION.
S 2. The state finance law is amended by adding a new section 96-a to
read as follows:
S 96-A. ELDERLY PHARMACEUTICAL DEDUCTIBLE RELIEF FUND. 1. THERE IS
HEREBY ESTABLISHED IN THE JOINT CUSTODY OF THE COMPTROLLER AND THE
COMMISSIONER OF TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN AS THE
ELDERLY PHARMACEUTICAL DEDUCTIBLE RELIEF FUND.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04288-01-9
A. 5687 2
2. SUCH FUND SHALL CONSIST OF ALL MONIES CREDITED OR TRANSFERRED THER-
ETO FROM THE GENERAL FUND OR FROM ANY OTHER FUND OR SOURCES PURSUANT TO
LAW.
3. FOR THE PURPOSE OF THIS SECTION, "TOTAL STATE REVENUES" SHALL MEAN
ALL REVENUES RECEIVED BY THE STATE DURING ANY FISCAL YEAR WHICH ARE
INCLUDED IN THE CASH BASIS FINANCIAL PLAN OF THE STATE, EXCLUDING THE
PROCEEDS OF GENERAL OBLIGATION BONDS AND BOND ANTICIPATION NOTES AUTHOR-
IZED BY THE VOTERS OF THE STATE AND ISSUED BY THE COMPTROLLER PURSUANT
TO SECTION TEN OR ELEVEN OF ARTICLE SEVEN OF THE STATE CONSTITUTION,
EXCLUDING FEDERAL GRANTS RECEIVED BY THE STATE AND EXCLUDING AMOUNTS
NECESSARY FOR THE PAYMENT OF TAX REFUNDS DURING SUCH FISCAL YEAR.
NOTWITHSTANDING ANY OTHER CONTRARY PROVISION OF LAW, IN ANY STATE FISCAL
YEAR WHEN TOTAL STATE REVENUES ARE IN EXCESS OF THE STATE SPENDING,
TWENTY-FIVE PERCENT OF SUCH SURPLUS REVENUES SHALL BE CREDITED OR TRANS-
FERRED THERETO, PURSUANT TO APPROPRIATION, FOR THE PURPOSE OF REDUCING
OR ELIMINATING ANY DEDUCTIBLE EXPENSES TO PARTICIPANTS IN THE ELDERLY
PHARMACEUTICAL INSURANCE COVERAGE SET FORTH IN PARAGRAPHS (A) AND (B) OF
SUBDIVISION TWO OF SECTION TWO HUNDRED FORTY-EIGHT OF THE ELDER LAW.
4. ALL PAYMENTS FROM THE FUND SHALL BE MADE ON THE AUDIT AND WARRANT
OF THE COMPTROLLER.
S 3. This act shall take effect immediately.