|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to finance|
|Feb 21, 2019||referred to finance|
senate Bill S3910
Current Bill Status - In Senate Committee Finance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3910 (ACTIVE) - Details
S3910 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3910 SPONSOR: JACOBS TITLE OF BILL: An act to amend the state finance law, in relation to prohibiting the transfer of dedicated highway and bridge trust fund balances to the general fund PURPOSE: This bill aims to restore the Dedicated Highway and Bridge Trust Fund as a reliable, predictable system for investment in long-term transporta- tion assets. SUMMARY OF SPECIFIC PROVISIONS: Section one: adds a new subdivision 6-a to section 89-b of the state finance law prohibiting diversion of funds dedicated to the Dedicated Highway and Bridge Trust Fund, to the general fund or otherwise.
S3910 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3910 2019-2020 Regular Sessions I N S E N A T E February 21, 2019 ___________ Introduced by Sen. JACOBS -- 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 prohibiting the transfer of dedicated highway and bridge trust fund balances to the general 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 6-a to read as follows: 6-A. (A) NOTWITHSTANDING ANY OTHER PROVISION OF LAW, DIVERSION OF FUNDS DEDICATED TO THE DEDICATED HIGHWAY AND BRIDGE TRUST FUND, IS PROHIBITED. (B) ALL STATE OFFICERS WITH RESPONSIBILITY FOR THE CUSTODY OR INVEST- MENT OF THE DEDICATED HIGHWAY AND BRIDGE TRUST FUND OR OF ITS ASSETS SHALL BE PROHIBITED FROM DIVERTING FUND ASSETS INTO THE GENERAL FUND OF THE STATE OR INTO ANY OTHER FUND MAINTAINED FOR THE SUPPORT OF ANOTHER GOVERNMENTAL PURPOSE. NO DIVERSION OF FUNDS CAN OCCUR CONTRARY TO THIS SECTION BY AN ADMINISTRATIVE ACT OF THE STATE OFFICERS WITH RESPONSIBIL- ITY FOR THE CUSTODY OR INVESTMENT OF THE FUND, OR ANY OTHER PERSON IN THE EXECUTIVE BRANCH UNLESS A STATUTE IS ENACTED INTO LAW AUTHORIZING A DIVERSION THAT WOULD OTHERWISE BE PROHIBITED BY THIS SECTION. (C) IF ANY DIVERSION OF FUND ASSETS OCCURS BY PASSAGE OF LEGISLATION DURING A REGULAR OR EXTRAORDINARY SESSION OF THE LEGISLATURE OR THE BUDGET, DIVERTING FUNDS SHALL INCLUDE A DIVERSION IMPACT STATEMENT WHICH INCLUDES THE FOLLOWING INFORMATION: (I) THE AMOUNT OF THE DIVERSION FROM THE FUND; (II) THE CUMULATIVE AMOUNT OF DIVERSION FROM THE FUND SINCE INCEPTION; AND (III) THE DATE OR DATES WHEN THE DIVERSION IS TO OCCUR. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05790-01-9
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