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NY A05370
Bill
Status
Introduced
2/16/2011
Primary Sponsor
Brian Kolb
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AI Summary
- Establishes an annual spending growth cap calculated by averaging inflation rates from the three calendar years immediately before a fiscal year
- Prohibits the Governor from submitting and the Legislature from enacting budgets that increase state operating funds spending beyond the annual spending growth cap
- Requires the Governor to certify that executive budget spending complies with the cap and the Comptroller to verify compliance within five days of legislative budget action
- Allows the Governor to declare an emergency by executive order and permits the Legislature to authorize spending exceeding the cap with a two-thirds supermajority vote
- Increases the maximum balance of the rainy day fund from three percent to ten percent of projected general fund disbursements for the following fiscal year
Legislative Description
Establishes a spending cap and increases the maximum capacity of the rainy day fund.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means2/16/2011
Full Bill Text
No bill text available