S T A T E O F N E W Y O R K
________________________________________________________________________
2668
2019-2020 Regular Sessions
I N A S S E M B L Y
January 24, 2019
___________
Introduced by M. of A. RODRIGUEZ -- Multi-Sponsored by -- M. of A.
CROUCH -- read once and referred to the Committee on Ways and Means
AN ACT to amend the state finance law, in relation to 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 TWENTY-TWO, THIRTY PERCENT OF DEDI-
CATED 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 THIRTY, 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 FORTY, 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.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07016-01-9