assembly Bill A4964

2015-2016 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
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to ways and means
Feb 10, 2015 referred to ways and means

Co-Sponsors

A4964 (ACTIVE) - Details

Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§244 - 246, amd §92-cc, St Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9557
2017-2018: A5134

A4964 (ACTIVE) - Summary

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

A4964 (ACTIVE) - Bill Text download pdf

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

                                  4964

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 10, 2015
                               ___________

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

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.
  4.  "EXECUTIVE BUDGET" SHALL MEAN THE BUDGET SUBMITTED ANNUALLY BY THE
GOVERNOR PURSUANT TO SECTION ONE OF ARTICLE VII OF THE  STATE  CONSTITU-
TION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08406-01-5

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