Enacts the "emergency school relief act"; makes changes in the percentages for disposition of revenue from lottery prize account to increase the percentage directed to state aid for education funding.
Enacts the rainy day act; moves funds from the tax stabilization fund to the rainy day reserve fund; increases the maximum balance; requires certain deposits; prohibits establishment of funds except by statute.
Increases the applicable percentage of the child tax credit allowed in the empire state child tax credit from thirty-three percent to forty-five percent; prescribes how such payment or refund should be made based on amount.