Assembly Bill A7338

2019-2020 Legislative Session

Relates to enacting a balanced budget requirement and creates the New York state governmental accounting review board

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-A7338 (ACTIVE) - Details

See Senate Version of this Bill:
S3980
Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add Art 3-A §§35 - 37, amd §22, St Fin L; amd §54, Leg L
Versions Introduced in Other Legislative Sessions:
2009-2010: S7284
2011-2012: S414
2013-2014: S3420
2015-2016: S2662
2017-2018: S5017
2021-2022: A6635, S1438
2023-2024: S3563

2019-A7338 (ACTIVE) - Summary

Enacts a balanced budget requirement and creates the New York state governmental accounting review board.

2019-A7338 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7338
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 25, 2019
                                ___________
 
 Introduced  by M. of A. GALEF -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the state  finance  law  and  the  legislative  law,  in
   relation  to  enacting  a balanced budget requirement and creating the
   New York state governmental accounting review board

   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
 3-A to read as follows:
                               ARTICLE III-A
                     BUDGETING ACCORDING TO GENERALLY
                      ACCEPTED ACCOUNTING PRINCIPLES
 SECTION 35. DEFINITIONS.
         36. DEVELOPMENT OF THE EXECUTIVE BUDGET SUBMISSION  AND  ENACTED
               BUDGET.
         37. NEW YORK STATE GOVERNMENTAL ACCOUNTING REVIEW BOARD.
   §  35.  DEFINITIONS.  AS USED IN THIS ARTICLE, THE FOLLOWING WORDS AND
 TERMS SHALL HAVE THE FOLLOWING MEANINGS  UNLESS  THE  CONTEXT  OTHERWISE
 REQUIRES.
   1.  "BOARD"  MEANS NEW YORK STATE GOVERNMENTAL ACCOUNTING REVIEW BOARD
 PURSUANT TO SECTION THIRTY-SEVEN OF THIS ARTICLE.
   2. "REVENUES" MEAN ALL TAXES,  RENTS,  FEES,  CHARGES,  PAYMENTS,  ALL
 PROCEEDS  FROM  BORROWINGS AND OTHER INCOME AND RECEIPTS PAID OR PAYABLE
 TO OR FOR THE STATE'S TREASURY.
   3.  "GENERALLY  ACCEPTED  ACCOUNTING  PRINCIPLES"  MEANS  THE  SET  OF
 ACCOUNTING  PRINCIPLES FOR FINANCIAL REPORTING ESTABLISHED BY THE FINAN-
 CIAL ACCOUNTING STANDARDS ADVISORY BOARD AND GOVERNED  BY  THE  AMERICAN
 INSTITUTE  OF  CERTIFIED  PUBLIC ACCOUNTANTS FOR FEDERAL REPORTING ENTI-
 TIES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08615-01-9

              

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