senate Bill S365

2017-2018 Legislative Session

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

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 09, 2018 referred to ways and means
delivered to assembly
passed senate
Jan 08, 2018 ordered to third reading cal.1
committee discharged and committed to rules
Jan 03, 2018 referred to finance
returned to senate
died in assembly
Jan 09, 2017 referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1
committee discharged and committed to rules
Jan 04, 2017 referred to finance

Votes

view votes

Jan 8, 2018 - Rules committee Vote

S365
17
8
committee
17
Aye
8
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Rules committee vote details

Jan 9, 2017 - Rules committee Vote

S365
17
8
committee
17
Aye
8
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Rules committee vote details

Co-Sponsors

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S365 - 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:
2009-2010: S5916
2011-2012: S716
2013-2014: S3770
2015-2016: S5507

S365 - Summary

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

S365 - Sponsor Memo

S365 - Bill Text download pdf


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

                                   365

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 4, 2017
                               ___________

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.
  § 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.
                                                           LBD02919-01-7

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