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Assembly Bill A10195

2015-2016 Legislative Session

Relates to the payment of portions of certain settlement funds to the state's general debt service fund

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Archive: Last Bill Status - In Assembly Committee

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2015-A10195 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd ยง72, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A6030
2019-2020: A5904
2021-2022: A5015
2023-2024: A3270
2025-2026: A2353

2015-A10195 (ACTIVE) - Summary

Relates to the payment of 5% of settlement funds totaling $1,000,000 or more to the principal balance of the state's general debt service fund.

2015-A10195 (ACTIVE) - Bill Text download pdf 

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

                                  10195

                          I N  A S S E M B L Y

                              May 16, 2016
                               ___________

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

AN ACT to amend the state finance law, in relation  to  the  payment  of
  portions  of  certain  settlement  funds  to  the state's general debt
  service fund

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

  Section  1.  Subdivision  4  of section 72 of the state finance law is
amended by adding a new paragraph (c) to read as follows:
  (C) FIVE PERCENT OF ANY SETTLEMENT MONEY, TOTALING ONE MILLION DOLLARS
OR MORE, PAID TO THE STATE, SHALL BE DIRECTLY APPLIED TO THE DEBT  PRIN-
CIPAL IN THE STATE'S GENERAL DEBT SERVICE FUND.
  S 2. This act shall take effect immediately.








 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15185-01-6

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