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Assembly Bill A3577

2015-2016 Legislative Session

Relates to requiring a certain percentage of the dedicated highway and bridge trust fund's revenue to be disbursed on a pay-as-you-go basis for capital projects

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Archive: Last Bill Status - In Assembly Committee

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2015-A3577 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd ยง89-b, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A705
2019-2020: A2668
2021-2022: A4138

2015-A3577 (ACTIVE) - Summary

Relates to requiring a certain percentage of the dedicated highway and bridge trust fund's revenue be disbursed on a pay-as-you-go basis for capital projects.

2015-A3577 (ACTIVE) - Bill Text download pdf 

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

                                  3577

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2015
                               ___________

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

AN ACT to amend the state  finance  law,  in  relation  to  the  capital
  project spending by the dedicated highway and bridge trust fund

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

  Section 1. Section 89-b of the state finance law is amended by  adding
a new subdivision 12 to read as follows:
  12. (A) BY THE YEAR TWO THOUSAND EIGHTEEN, THIRTY PERCENT OF DEDICATED
REVENUE REMAINING AFTER DEBT SERVICE HAS BEEN PAID SHALL BE DISBURSED ON
A  PAY-AS-YOU-GO  BASIS FROM THE FUND FOR CAPITAL PROJECTS.  BY THE YEAR
TWO THOUSAND TWENTY-SIX, FORTY PERCENT OF  DEDICATED  REVENUE  REMAINING
AFTER  DEBT  SERVICE HAS BEEN PAID SHALL BE DISBURSED ON A PAY-AS-YOU-GO
BASIS FROM THE FUND FOR CAPITAL PROJECTS. BY THE YEAR TWO THOUSAND THIR-
TY-SIX, FIFTY PERCENT OF ALL  DEDICATED  REVENUE  REMAINING  AFTER  DEBT
SERVICE  HAS  BEEN PAID SHALL BE DISBURSED ON A PAY-AS-YOU-GO BASIS FROM
THE FUND FOR CAPITAL PROJECTS.
  (B) DURING YEARS IN WHICH TOTAL DEDICATED REVENUE  IS  TWENTY  PERCENT
LESS  THAN  THE  PREVIOUS YEAR, THESE DISBURSEMENT REQUIREMENTS SHALL BE
DEEMED WAIVED FOR THAT 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.
                                                           LBD01019-01-5

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