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Senate Bill S4836

2021-2022 Legislative Session

Relates to requiring the director of the budget to provide monthly budget updates to the legislature

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Archive: Last Bill Status - In Senate Committee Finance Committee

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2021-S4836 (ACTIVE) - Details

See Assembly Version of this Bill:
A102
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add §22-d, St Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S8376, A10501
2023-2024: S4373

2021-S4836 (ACTIVE) - Summary

Requires the director of the budget to provide monthly budget updates to the legislature including a detailed description of revenue shortfalls, spending overages, and any proposed adjustments to appropriations or disbursements pursuant to authorization granted in the two thousand twenty-one-twenty-two enacted budget.

2021-S4836 (ACTIVE) - Sponsor Memo

2021-S4836 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4836
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 16, 2021
                                ___________
 
 Introduced  by  Sen.  BIAGGI -- 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  requiring  the
   director of the budget to provide monthly budget updates to the legis-
   lature; and providing for the repeal of such provisions upon the expi-
   ration thereof
 
   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  section
 22-d to read as follows:
   §  22-D.  MONTHLY FINANCIAL UPDATES. 1. ON OR BEFORE THE FIRST OF EACH
 MONTH, THE DIRECTOR OF THE BUDGET SHALL PROVIDE MONTHLY UPDATES  ON  THE
 ECONOMIC  AND  REVENUE OUTLOOK OF THE STATE. SUCH UPDATES SHALL INCLUDE,
 BUT NOT BE LIMITED TO, A DETAILED  DESCRIPTION  OF  REVENUE  SHORTFALLS,
 SPENDING  OVERAGES,  CASH FLOWS, BORROWING, AND ANY PROPOSED ADJUSTMENTS
 TO APPROPRIATIONS OR DISBURSEMENTS PURSUANT TO AUTHORIZATION GRANTED  IN
 THE  TWO  THOUSAND TWENTY-ONE--TWENTY-TWO ENACTED BUDGET. A COPY OF SUCH
 UPDATES SHALL BE SENT TO THE TEMPORARY PRESIDENT OF THE SENATE  AND  THE
 SPEAKER OF THE ASSEMBLY.  SUCH UPDATES SHALL ALSO BE POSTED CONSPICUOUS-
 LY ON THE DIVISION OF BUDGET'S WEBSITE.
   2.  THE  DIRECTOR  OF  THE  BUDGET  SHALL PROVIDE A MEANS BY WHICH ANY
 STAKEHOLDER OR MEMBER OF THE PUBLIC MAY SUBMIT COMMENTS  OR  SUGGESTIONS
 ON SUCH UPDATES. THE DIRECTOR OF THE BUDGET SHALL TAKE SUCH COMMENTS AND
 SUGGESTIONS  INTO CONSIDERATION WHEN MAKING ANY ADJUSTMENTS TO APPROPRI-
 ATIONS AND DISBURSEMENTS PURSUANT TO AUTHORIZATION GRANTED  IN  THE  TWO
 THOUSAND TWENTY-ONE--TWENTY-TWO ENACTED BUDGET.
   3. THE DIRECTOR OF THE BUDGET MAY PROVIDE ANY ADDITIONAL UPDATES AS HE
 OR SHE DEEMS APPROPRIATE. SUCH ADDITIONAL UPDATES SHALL BE DONE PURSUANT
 TO THE PROCESS ESTABLISHED IN THIS SECTION.
   §  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed April 1, 2022.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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