senate Bill S4196

Signed By Governor
2019-2020 Legislative Session

Relates to certain variations from generally accepted accounting principles as applied to the budget and accounts of the city of New York

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor


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

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 23, 2019 signed chap.406
Oct 21, 2019 delivered to governor
Jun 19, 2019 returned to senate
passed assembly
ordered to third reading rules cal.452
substituted for a6294a
May 30, 2019 referred to cities
delivered to assembly
passed senate
May 22, 2019 advanced to third reading
May 21, 2019 2nd report cal.
May 20, 2019 1st report cal.792
Mar 04, 2019 referred to local government

Votes

view votes

May 20, 2019 - Local Government committee Vote

S4196
5
1
committee
5
Aye
1
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: May 20, 2019

nay (1)
aye wr (1)

S4196 (ACTIVE) - Details

See Assembly Version of this Bill:
A6294
Law Section:
General Municipal Law
Laws Affected:
Add §25, Gen Muni L; amd §8, Chap 868 of 1975

S4196 (ACTIVE) - Summary

Establishes permitted variations from generally accepted accounting principles for the purposes of determining a deficit with respect to the budget and accounts of the city of New York.

S4196 (ACTIVE) - Sponsor Memo

S4196 (ACTIVE) - Bill Text download pdf


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

                                  4196

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              March 4, 2019
                               ___________

Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the general municipal law and the New York state  finan-
  cial  emergency  act  for the city of New York, in relation to certain
  variations from generally accepted accounting principles as applied to
  the budget and accounts of the city of New York

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  general  municipal  law  is  amended by adding a new
section 25 to read as follows:
  § 25.  TREATMENT  OF  CAPITAL  COSTS  AND  RESTRICTED  FUND  BALANCES.
NOTWITHSTANDING  THE  PROVISIONS  OF ANY GENERAL OR SPECIAL STATE LAW OR
LOCAL LAW TO THE CONTRARY, INCLUDING BUT NOT LIMITED  TO  THE  NEW  YORK
CITY  CHARTER,  THE FOLLOWING SHALL APPLY WITH RESPECT TO THE BUDGET AND
ACCOUNTS OF THE CITY OF NEW YORK:
  1. ALL COSTS THAT WOULD BE CAPITAL COSTS IN ACCORDANCE WITH  GENERALLY
ACCEPTED  ACCOUNTING PRINCIPLES, BUT FOR THE APPLICATION OF GOVERNMENTAL
ACCOUNTING STANDARDS BOARD STATEMENT NUMBER FORTY-NINE, SHALL BE  DEEMED
TO BE CAPITAL COSTS FOR PURPOSES OF THIS CHAPTER AND ANY OTHER PROVISION
OF  STATE  OR  LOCAL LAW, INCLUDING BUT NOT LIMITED TO THE NEW YORK CITY
CHARTER, RELEVANT TO THE TREATMENT OF SUCH COSTS; AND
  2. THE DETERMINATION AS TO THE EXISTENCE OF A DEFICIT PURSUANT TO  THE
NEW  YORK  STATE FINANCIAL EMERGENCY ACT FOR THE CITY OF NEW YORK, WHILE
SUCH ACT REMAINS IN EFFECT, AND ANY OTHER PROVISION OF  STATE  OR  LOCAL
LAW,  INCLUDING  BUT  NOT LIMITED TO THE NEW YORK CITY CHARTER, SHALL BE
MADE WITHOUT REGARD TO CHANGES IN RESTRICTED FUND BALANCES,  AS  DEFINED
BY  THE  GOVERNMENTAL  ACCOUNTING STANDARDS BOARD, WHERE RESTRICTIONS IN
RELATION TO SUCH FUND BALANCES ARE IMPOSED BY STATE OR  FEDERAL  LAW  OR
REGULATION,  OR  OTHERWISE BY PRIVATE OR GOVERNMENTAL PARTIES OTHER THAN
THE CITY OF NEW YORK, AND WITHOUT REGARD TO FUNDS  HELD  IN  THE  HEALTH

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10407-01-9

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