Senate Bill S716

2011-2012 Legislative Session

Establishes an annual spending growth cap and increases the maximum capacity of the rainy day fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-S716 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§244 - 246, amd §92-cc, St Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: S5916
2013-2014: S3770
2015-2016: S5507
2017-2018: S365
2019-2020: S7622
2021-2022: S1756
2023-2024: S681

2011-S716 (ACTIVE) - Summary

Establishes an annual spending growth cap and increases the maximum capacity of the rainy day fund.

2011-S716 (ACTIVE) - Sponsor Memo

2011-S716 (ACTIVE) - Bill Text download pdf

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

                                   716

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  ROBACH -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in  relation  to  establishing  a
  spending cap and increasing the maximum capacity of the rainy day fund

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

  Section 1. The state finance law is amended by adding a new article 17
to read as follows:
                               ARTICLE 17
                     ANNUAL SPENDING GROWTH CAP ACT
SECTION 244. DEFINITIONS.
        245. ESTABLISHMENT OF ANNUAL SPENDING GROWTH CAP.
        246. PROVISIONS REGARDING DECLARATION OF EMERGENCY.
  S 244. DEFINITIONS. AS USED IN THIS ARTICLE, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS, UNLESS OTHERWISE SPECIFIED:
  1. "ANNUAL SPENDING GROWTH CAP" SHALL MEAN A PERCENTAGE DETERMINED  BY
ADDING  THE  INFLATION RATES FROM EACH OF THE THREE CALENDAR YEARS IMME-
DIATELY PRIOR TO THE COMMENCEMENT OF A GIVEN FISCAL YEAR AND THEN DIVID-
ING THAT SUM BY THREE.
  2. "STATE OPERATING FUNDS SPENDING" SHALL MEAN ANNUAL DISBURSEMENTS OF
ALL GOVERNMENTAL FUND TYPES INCLUDED IN THE CASH-BASIS FINANCIAL PLAN OF
THE STATE,  EXCLUDING  DISBURSEMENTS  FROM  FEDERAL  FUNDS  AND  CAPITAL
PROJECT FUNDS.
  3.   "INFLATION   RATE"  SHALL  MEAN  THE  PERCENTAGE  CHANGE  IN  THE
TWELVE-MONTH AVERAGE OF THE CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS
AS PUBLISHED BY THE UNITED STATES DEPARTMENT OF LABOR, BUREAU  OF  LABOR
STATISTICS OR ANY SUCCESSOR AGENCY FOR A GIVEN CALENDAR YEAR COMPARED TO
THE PRIOR CALENDAR YEAR.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01943-01-1

              

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