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Assembly Bill A2353

2025-2026 Legislative Session

Relates to the payment of portions of certain settlement funds to the state's general debt service fund

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Current Bill Status - In Assembly Committee

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2025-A2353 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Amd §72, St Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10195
2017-2018: A6030
2019-2020: A5904
2021-2022: A5015
2023-2024: A3270

2025-A2353 (ACTIVE) - Summary

Relates to the payment of 5% of settlement funds totaling $1,000,000 or more to the principal balance of the state's general debt service fund.

2025-A2353 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2353
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 16, 2025
                                ___________
 
 Introduced  by M. of A. RA, BARCLAY, TAGUE, MORINELLO, BRABENEC, MANKTE-
   LOW, HAWLEY, WALSH, BLUMENCRANZ --  read  once  and  referred  to  the
   Committee on Ways and Means
 
 AN  ACT  to  amend  the state finance law, in relation to the payment of
   portions of certain settlement  funds  to  the  state's  general  debt
   service fund

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 4 of section 72 of the  state  finance  law  is
 amended by adding a new paragraph (c) to read as follows:
   (C) FIVE PERCENT OF ANY SETTLEMENT MONEY, TOTALING ONE MILLION DOLLARS
 OR  MORE, PAID TO THE STATE, SHALL BE DIRECTLY APPLIED TO THE DEBT PRIN-
 CIPAL IN THE STATE'S GENERAL DEBT SERVICE FUND.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05712-01-5

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