NY A04333

Creates a General Budget Conference Committee comprised of 10 legislators (4 appointed by Senate Temporary President, 4 by Assembly Speaker, 1 by Senate Minority Leader, 1 by Assembly Minority Leader) that must convene by March 15 each year to resolve budget differences between houses, with all meetings required to be public.

Establishes Budget Conference Subcommittees under the General Committee to resolve specific budget areas, with each subcommittee reporting estimated financial impacts for the current and next two fiscal years.

Increases the tax stabilization reserve fund cap from 2% to 5% of the general fund norm, and increases the annual deposit threshold from 0.2% to 0.5% of the norm.

Prohibits the legislature from considering any bills other than appropriations after the fiscal year begins until all appropriation bills and budget legislation are enacted, with limited exceptions.

Limits total all-funds state spending growth to the rate of inflation (measured by CPI-W), with allowances only for unexpected federal funds received by the state.

Requires the Division of the Budget to prepare and publicly distribute a plain language summary report of enacted appropriation bills at least 48 hours before final passage by each house.