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NY A05334
Bill
Status
2/16/2011
Primary Sponsor
James Tedisco
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AI Summary
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State agencies with surplus appropriated funds on April 1st must notify the Governor, Comptroller, and Legislature by April 15th of the amount remaining.
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The Legislature and Governor may enact legislation by May 31st to authorize use or transfer of surplus funds to other agencies, subject to Comptroller approval by June 30th.
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Surplus funds not authorized for use by May 31st, or not approved by the Comptroller by June 30th, are automatically transferred to the General Fund to reduce state debt.
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State agencies intending to spend more than their annual appropriation must notify the Governor, Comptroller, and Legislature in advance with a detailed explanation before such over-expenditure occurs.
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The Legislature and Governor may enact legislation to appropriate additional funds for over-expenditures, with all such appropriations requiring Comptroller approval.
Legislative Description
Enacts the "over-expenditure, under-expenditure, transfer notification (OUT) act" to provide for the use of surplus appropriated funds and over-expenditure approval.
Last Action
held for consideration in ways and means
6/19/2012