Assembly Bill A5893

2023-2024 Legislative Session

Establishes an annual spending growth cap

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Current 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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2023-A5893 (ACTIVE) - Details

See Senate Version of this Bill:
S681
Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§244 - 246, St Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: S5916
2011-2012: S716
2013-2014: S3770
2015-2016: S5507
2017-2018: S365
2019-2020: S7622
2021-2022: S1756

2023-A5893 (ACTIVE) - Summary

Establishes an annual spending growth cap.

2023-A5893 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5893
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 24, 2023
                                ___________
 
 Introduced by M. of A. JENSEN -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT  to  amend  the state finance law, in relation to establishing a
   spending cap
 
   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 17
 to read as follows:
                                ARTICLE 17
                      ANNUAL SPENDING GROWTH CAP ACT
 SECTION 244. DEFINITIONS.
         245. ESTABLISHMENT OF ANNUAL SPENDING GROWTH CAP.
         246. PROVISIONS REGARDING DECLARATION OF EMERGENCY.
   § 244. DEFINITIONS. AS USED IN THIS ARTICLE, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS, UNLESS OTHERWISE SPECIFIED:
   1.  "ANNUAL SPENDING GROWTH CAP" SHALL MEAN A PERCENTAGE DETERMINED BY
 ADDING THE INFLATION RATES FROM EACH OF THE THREE CALENDAR  YEARS  IMME-
 DIATELY PRIOR TO THE COMMENCEMENT OF A GIVEN FISCAL YEAR AND THEN DIVID-
 ING THAT SUM BY THREE OR TWO PERCENT, WHICHEVER IS LESS.
   2. "STATE OPERATING FUNDS SPENDING" SHALL MEAN ANNUAL DISBURSEMENTS OF
 ALL GOVERNMENTAL FUND TYPES INCLUDED IN THE CASH-BASIS FINANCIAL PLAN OF
 THE  STATE,  EXCLUDING  DISBURSEMENTS  FROM  FEDERAL  FUNDS  AND CAPITAL
 PROJECT FUNDS.
   3. "INFLATION RATE" SHALL MEAN THE PERCENTAGE CHANGE  IN  THE  TWELVE-
 MONTH  AVERAGE  OF  THE  CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS AS
 PUBLISHED BY THE UNITED STATES DEPARTMENT  OF  LABOR,  BUREAU  OF  LABOR
 STATISTICS OR ANY SUCCESSOR AGENCY FOR A GIVEN CALENDAR YEAR COMPARED TO
 THE PRIOR CALENDAR YEAR.
   4.  "EXECUTIVE BUDGET" SHALL MEAN THE BUDGET SUBMITTED ANNUALLY BY THE
 GOVERNOR  PURSUANT  TO SECTION ONE OF ARTICLE VII OF THE STATE CONSTITU-
 TION.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03491-01-3
              

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