Legislation

Search OpenLegislation Statutes
This entry was published on 2017-08-25
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 99-L*2
Love your library fund
State Finance (STF) CHAPTER 56, ARTICLE 6
* § 99-l. Love your library fund. 1. There is hereby established in
the joint custody of the state comptroller and the commissioner of
taxation and finance a special fund to be known as the "love your
library fund."

2. Such fund shall consist of all revenues received by the department
of motor vehicles pursuant to section four hundred four-v of the vehicle
and traffic law, as added by chapter three hundred three of the laws of
two thousand four, all the revenues received by the department of
taxation and finance pursuant to sections two hundred nine-K and six
hundred thirty-e of the tax law and all other moneys appropriated,
credited, or transferred thereto from any other fund or source pursuant
to law.

2-a. On or before the first day of February each year, the
commissioner of the department of education shall provide a written
report to the temporary president of the senate, speaker of the
assembly, chair of the senate finance committee, chair of the assembly
ways and means committee, the state comptroller and the public. Such
report shall include how the monies of the fund were utilized during the
preceding calendar year, and shall include:

(i) the amount of money disbursed from the fund and the award process
used for such disbursements;

(ii) recipients of awards from the fund;

(iii) the amount awarded to each;

(iv) the purposes for which such awards were granted; and

(v) a summary financial plan for such monies which shall include
estimates of all receipts and all disbursements for the current and
succeeding fiscal years, along with the actual results from the prior
fiscal year.

3. Moneys of the fund, following appropriation by the legislature
shall be expended only for the purposes of providing funding for the
statewide summer reading program set forth in subdivision ten of section
two hundred seventy-three of the education law. Moneys shall be paid out
of the fund on the audit and warrant of the state comptroller on
vouchers approved and certified by the commissioner of education. Any
interest received by the comptroller on moneys on deposit in the love
your library fund shall be retained in and become part of such fund.

* NB There are 2 § 99-l's