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NY A02437
Bill
Status
1/16/2015
Primary Sponsor
James Tedisco
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AI Summary
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Requires state agencies with surplus appropriated funds on April 1st to notify the Governor, Comptroller, and Legislature by April 15th of the amount of surplus funds.
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Allows the Legislature and Governor to enact legislation by May 31st directing how surplus funds may be used by the agency or transferred to another agency, subject to Comptroller approval by June 30th.
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Directs any surplus appropriated funds not authorized for use or approved by June 30th to be transferred to the General Fund and used solely for reducing state debt.
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Requires state agencies intending to expend funds in excess of their fiscal year appropriation to notify the Governor, Comptroller, and Legislature with a detailed explanation prior to such expenditure.
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Allows the Legislature and Governor to enact legislation authorizing additional appropriations for over-expenditures, subject to 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
6/14/2016