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Assembly Bill A7051

2011-2012 Legislative Session

Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2011-A7051 - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd §92, St Fin L

2011-A7051 - Summary

Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund.

2011-A7051 - Bill Text download pdf 

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

                                  7051

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 11, 2011
                               ___________

Introduced by M. of A. CUSICK -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to  amend  the state finance law, in relation to restriction on
  raising, extending, imposing and revising state taxes,  fees,  assess-
  ments, surcharges and levies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 3 of section 92 of the state  finance  law,  as
separately  amended  by  chapters  405  and  957 of the laws of 1981, is
amended to read as follows:
  3. At the close of each fiscal year any cash surplus remaining in  the
general  fund  over  and  above  the  norm for such fiscal year shall be
transferred from or retained in such fund as hereinafter in this  subdi-
vision  provided.  There  shall  be transferred to the tax stabilization
reserve fund all of such surplus moneys, up to and including  an  amount
equivalent  to  two-tenths  of  one per centum of such norm, unless such
transfer would increase such reserve fund to an amount in excess of  two
per  centum  of  the  amount  of the norm for such fiscal year, in which
event such transfer shall be limited to such  amount  as  will  increase
such reserve fund to such two per centum limitation. Any balance of such
surplus  moneys,  thereafter  remaining  in  the  general fund, shall be
retained in such fund and be available for the reduction of state taxes.
IF A BALANCE OF SUCH SURPLUS MONEYS EXISTS IN THE  GENERAL  FUND,  THERE
SHALL BE NO INCREASE, EXTENSION, IMPOSITION OR REVIVAL OF ANY STATE TAX,
FEE, ASSESSMENT, SURCHARGE OR OTHER LEVY OR COLLECTION ENACTED IN OR FOR
THE FOLLOWING STATE FISCAL YEAR.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02721-03-1

2011-A7051A (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd §92, St Fin L

2011-A7051A (ACTIVE) - Summary

Provides that state taxes, fees, assessments and surcharges shall not be raised, extended, imposed or revived if there is surplus money in the general fund.

2011-A7051A (ACTIVE) - Bill Text download pdf 

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

                                 7051--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 11, 2011
                               ___________

Introduced by M. of A. CUSICK -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to  amend  the state finance law, in relation to restriction on
  raising, extending, imposing and revising state taxes,  fees,  assess-
  ments, surcharges and levies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 3 of section 92 of the state  finance  law,  as
separately  amended  by  chapters  405  and  957 of the laws of 1981, is
amended to read as follows:
  3. At the close of each fiscal year any cash surplus remaining in  the
general  fund  over  and  above  the  norm for such fiscal year shall be
transferred from or retained in such fund as hereinafter in this  subdi-
vision  provided.  There  shall  be transferred to the tax stabilization
reserve fund all of such surplus moneys, up to and including  an  amount
equivalent  to  two-tenths  of  one per centum of such norm, unless such
transfer would increase such reserve fund to an amount in excess of  two
per  centum  of  the  amount  of the norm for such fiscal year, in which
event such transfer shall be limited to such  amount  as  will  increase
such reserve fund to such two per centum limitation. Any balance of such
surplus  moneys,  thereafter  remaining  in  the  general fund, shall be
retained in such fund and be available for the reduction of state taxes.
IF AT THE CLOSE OF ANY FISCAL YEAR THERE EXISTS ANY CASH SURPLUS REMAIN-
ING IN THE GENERAL FUND OVER AND ABOVE THE NORM, IN THE FOLLOWING  STATE
FISCAL  YEAR  THERE  SHALL  NOT BE ENACTMENT OF ANY INCREASE, EXTENSION,
IMPOSITION OR REVIVAL OF ANY STATE TAX, FEE,  ASSESSMENT,  SURCHARGE  OR
OTHER LEVY WHICH EFFECTS REVENUES IN SUCH FISCAL YEAR.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02721-05-2

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