Assembly Bill A4976A

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4976--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 9, 2011
                               ___________

Introduced  by  M.  of  A.  SCHIMMINGER -- read once and referred to the
  Committee on Ways and Means --  committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

            CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY

proposing  an amendment to article 7 of the constitution, in relation to
  limiting the growth on New York state  disbursements  and  creating  a
  revenue stabilization tax reduction and debt repayment fund; repealing
  section  17  of  article 7 of the constitution relating to authorizing
  the establishment of a fund to aid in the stabilization of tax  reven-
  ues

  Section  1.  Resolved  (if  the  Senate concur), That article 7 of the
constitution be amended by adding a new section 7-a to read as follows:
  S 7-A. 1. EXCEPT IN THE CASE OF AN EMERGENCY, THE GOVERNOR  SHALL  NOT
SUBMIT  ANY  APPROPRIATION  BILL OR BILLS, NOR SHALL THE LEGISLATURE ACT
UPON ANY SUCH APPROPRIATION BILL OR SUPPLEMENTAL APPROPRIATION  BILL  OR
BILLS FOR THE SUPPORT OF GOVERNMENT WHICH AUTHORIZE AN INCREASE IN TOTAL
STATE  SPENDING  OVER THE PRECEDING STATE FISCAL YEAR WHICH IS IN EXCESS
OF THE PRODUCT OF THE TOTAL STATE SPENDING FOR THE PRECEDING FISCAL YEAR
AND THE LESSER OF ONE HUNDRED TWENTY PERCENT OF THE  INFLATION  RATE  OR
TWO PERCENT.
  2. UPON A FINDING AND DECLARATION OF AN EMERGENCY BY THE GOVERNOR WITH
CONCURRENCE OF THE COMPTROLLER, THE GOVERNOR MAY SUBMIT AN APPROPRIATION
BILL  OR  BILLS  WHICH  AUTHORIZE  TOTAL STATE SPENDING IN EXCESS OF THE
LIMITATION PROVIDED IN SUBDIVISION ONE OF THIS SECTION.
  3. FOR PURPOSES OF THIS SECTION:
  A. "TOTAL STATE SPENDING" SHALL MEAN  ALL  STATE  FUNDS,  WHICH  SHALL
CONSTITUTE: (I) GENERAL FUNDS; (II) SPECIAL REVENUE FUNDS; (III) CAPITAL
PROJECT FUNDS; (IV) DEBT SERVICE FUNDS.
  B.  "INFLATION  RATE"  SHALL  MEAN THE ANNUAL PERCENTAGE CHANGE IN THE
CONSUMER PRICE INDEX, ALL URBAN, AS PUBLISHED BY  THE  BUREAU  OF  LABOR
STATISTICS, OR ANY SUCCESSOR AGENCY, FOR THE PREVIOUS TWELVE MONTH PERI-
OD ENDING OCTOBER THIRTY-FIRST.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD89094-03-1

A. 4976--A                          2

  C.  "EMERGENCY"  SHALL MEAN AN EXTRAORDINARY, UNFORESEEN OR UNEXPECTED
OCCURRENCE OR COMBINATION OF CIRCUMSTANCES IN A GIVEN FISCAL YEAR  WHICH
REQUIRES  IMMEDIATE  AND SUDDEN FISCAL ACTION OF A DRASTIC BUT TEMPORARY
NATURE.
  S  2. Resolved (if the Senate concur), That section 17 of article 7 of
the constitution be REPEALED and a new section 17 be added  to  read  as
follows:
  S  17.  IN ANY STATE FISCAL YEAR IF TOTAL STATE REVENUES ARE IN EXCESS
OF THE STATE SPENDING LIMITATION PURSUANT TO SUBDIVISION ONE OF  SECTION
SEVEN-A  OF  THIS  ARTICLE,  ONE-HALF  OF THE REVENUES IN EXCESS OF SUCH
STATE SPENDING LIMITATION MUST BE DEPOSITED INTO THE  TAX  STABILIZATION
RESERVE  FUND.  THE  REMAINDER  SHALL  BE  RETURNED TO NEW YORK RESIDENT
TAXPAYERS IN PROPORTION TO PERSONAL INCOME TAX LIABILITY.
  S 3. Resolved (if the Senate concur), That the foregoing amendments be
referred to the first regular legislative session  convening  after  the
next  succeeding  general  election  of members of the assembly, and, in
conformity with  section  1  of  article  19  of  the  constitution,  be
published for 3 months previous to the time of such election.