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NY A10195

Bill

Official Source

Status

Introduced

5/16/2016

Primary Sponsor

Robert Oaks

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends Section 72, Subdivision 4 of the State Finance Law to require 5% of settlement money totaling $1,000,000 or more paid to the state be applied directly to debt principal in the state's general debt service fund

  • Applies this requirement to all eligible settlement funds received by the state going forward

  • Takes effect immediately upon enactment

Legislative Description

Relates to the payment of 5% of settlement funds totaling $1,000,000 or more to the principal balance of the state's general debt service fund.

Last Action

held for consideration in ways and means

6/15/2016

Committee Referrals

Ways and Means5/16/2016

Full Bill Text

No bill text available