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This entry was published on 2014-09-22
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Report on financial support of research institutes
State Finance (STF) CHAPTER 56, ARTICLE 4
§ 53-c. Report on financial support of research institutes. If any
state agency agrees to provide financial support or any other assistance
to cover any operating loss for a research institute, such agency shall
submit to the chairs of the senate committee on finance and the assembly
committee on ways and means a report on the calculation of such loss.
This calculation shall include all revenue of the corporation from
whatever source and all expenses of the corporation. If such calculation
results in an operating surplus, such surplus shall be paid to the state
and may be credited to the budget of the affiliated agency subject to an
appropriation by the legislature.