Legislation
SECTION 99-E
State university stabilization account
State Finance (STF) CHAPTER 56, ARTICLE 6
§ 99-e. State university stabilization account. 1. There is hereby
established in the joint custody of the state comptroller and the
commissioner of taxation and finance an account in the miscellaneous
special revenue fund to be known as the state university stabilization
account.
2. Such account shall consist (a) of any and all unexpended and
unencumbered moneys received by the state university of New York from
tuition, fees, user charges, or other sources and deposited into the
income offset account, and (b) any other undisbursed balance of the
general fund appropriation as of the last day of the state university
fiscal year as reduced pursuant to subparagraph six of paragraph c of
subdivision four of section three hundred fifty-five of the education
law to reflect any aggregate amount established by the director of the
budget less than the amount appropriated. Such moneys shall be
transferred by the state comptroller into the stabilization account on
or before September fifteenth within thirty days of such date. In
addition, all or a portion of the account balances in other state
university income accounts, except the dormitory income reimbursable
account, shall be transferred by the state comptroller, at the request
of the state university, to the stabilization account.
3. Moneys of the account shall only be available to the state
university of New York and following appropriation by the legislature,
shall be credited to the state operated institutions, statutory or
contract colleges, hospitals and/or system administration stabilization
subaccounts from which the savings were achieved. Notwithstanding
section forty of this chapter, section three hundred fifty-five of the
education law or any other law to the contrary, all appropriations made
from this account to the state university of New York shall remain in
full force and effect for two years from July first of the effective
year of the chapter in which the appropriations were made. Moneys shall
be paid out of the account on the audit and warrant of the state
comptroller on vouchers certified or approved by the chancellor of the
state university of New York or his or her designee.
established in the joint custody of the state comptroller and the
commissioner of taxation and finance an account in the miscellaneous
special revenue fund to be known as the state university stabilization
account.
2. Such account shall consist (a) of any and all unexpended and
unencumbered moneys received by the state university of New York from
tuition, fees, user charges, or other sources and deposited into the
income offset account, and (b) any other undisbursed balance of the
general fund appropriation as of the last day of the state university
fiscal year as reduced pursuant to subparagraph six of paragraph c of
subdivision four of section three hundred fifty-five of the education
law to reflect any aggregate amount established by the director of the
budget less than the amount appropriated. Such moneys shall be
transferred by the state comptroller into the stabilization account on
or before September fifteenth within thirty days of such date. In
addition, all or a portion of the account balances in other state
university income accounts, except the dormitory income reimbursable
account, shall be transferred by the state comptroller, at the request
of the state university, to the stabilization account.
3. Moneys of the account shall only be available to the state
university of New York and following appropriation by the legislature,
shall be credited to the state operated institutions, statutory or
contract colleges, hospitals and/or system administration stabilization
subaccounts from which the savings were achieved. Notwithstanding
section forty of this chapter, section three hundred fifty-five of the
education law or any other law to the contrary, all appropriations made
from this account to the state university of New York shall remain in
full force and effect for two years from July first of the effective
year of the chapter in which the appropriations were made. Moneys shall
be paid out of the account on the audit and warrant of the state
comptroller on vouchers certified or approved by the chancellor of the
state university of New York or his or her designee.