New York Assembly Bill A03579 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 3579 2025-2026 Regular Sessions  IN ASSEMBLY January 28, 2025 ___________ Introduced by M. of A. JONES -- read once and referred to the Committee on Local Governments AN ACT to amend the executive law, in relation to establishing the volunteer fire departments capital fund; and making an appropriation therefor The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The executive law is amended by adding a new section 156-i 2 to read as follows: 3 § 156-i. Volunteer fire departments capital fund. 1. Definitions. As 4 used in this section, the following words and phrases shall have the 5 following meanings: 6 (a) "capital fund" shall mean the volunteer fire departments capital 7 fund authorized to be established by the office and administered pursu- 8 ant to this section. 9 (b) "participating grantee" or "grantee" shall mean a volunteer fire 10 department. 11 2. Capital fund established. (a) The office, within amounts appropri- 12 ated, shall establish the volunteer fire departments capital fund. 13 (b) Monies in the capital fund shall be utilized for the purpose of 14 making grants to qualifying participating grantees based on criteria 15 established by the office. 16 (c) Funds shall be transferred by the commissioner of taxation and 17 finance to the office for deposit in the capital fund in an amount as 18 authorized by appropriation. 19 (d) Monies in the fund shall be: (i) held by the office pursuant to 20 this section as custodian pursuant to an agreement with the comptroller 21 until transferred to the grantee pursuant to this section; and (ii) 22 invested by the office in accordance with the investment guidelines of 23 the comptroller during said custodial period. All investment income 24 shall be credited to, and shall be deposited in, the capital fund. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07673-01-5 
 A. 3579 2 1 3. Administration. The custody of, and responsibility for, the capital 2 fund shall be taken up by the office, in compliance with all applicable 3 laws, rules, regulations and other requirements. Such administration of 4 the capital fund shall include, but not be limited to: 5 (a) the office shall be responsible for the receipt, management and 6 expenditure of monies held in the capital fund; 7 (b) the office shall maintain books and records pertaining to all 8 monies received and disbursed pursuant to this section and the agree- 9 ment; 10 (c) monies in such capital fund shall be utilized for the purpose of 11 making grants to qualifying participating grantees for purposes deter- 12 mined by the office; 13 (d) participating grantees shall be chosen by the office through an 14 application process approved by the office and the comptroller; 15 (e) eligible uses of funds so granted to participating grantees shall 16 be determined by the office; 17 (f) the office administering the capital fund shall report quarterly 18 on the transactions in the capital fund in a form and manner specified 19 by the comptroller in consultation with the commissioner of taxation and 20 finance, including but not limited to: receipts or deposits to the fund; 21 disbursements; loans or credit enhancement made from the fund; invest- 22 ment income; and the balance on hand as of the end of the month for each 23 such quarter; 24 (g) the office shall be required to invest monies on deposit in the 25 fund in accordance with investment guidelines meeting the requirements 26 of the comptroller, and all investment income shall be credited to the 27 revolving capital fund, and spent therefrom only for the purposes set 28 forth in this section; 29 (h) capital fund monies shall be held in trust and used for the bene- 30 fit of eligible grantees; and 31 (i) any other term or condition as determined by the office and the 32 comptroller, in consultation with the commissioner of taxation and 33 finance. 34 4. Grant documentation. Grants from the capital fund shall be made 35 pursuant to a written agreement between the office and the participating 36 grantee, specifying the terms of the grant. The grant agreement shall be 37 in such form and content as shall be acceptable to the comptroller and 38 the office, and may include such other written documentation and/or 39 agreements as shall be required in the judgment of the comptroller and 40 the office. Terms may include rescission of grants if a grantee does not 41 use grant funds in accordance with this section or the terms of the 42 grantee's agreement with the office. 43 § 2. The sum of one hundred million dollars ($100,000,000), or so much 44 thereof as may be necessary, is hereby appropriated to the office of 45 fire prevention and control out of any moneys in the state treasury in 46 the general fund, not otherwise appropriated, and made immediately 47 available, for the purpose of carrying out the provisions of this act. 48 Such moneys shall be payable on the audit and warrant of the comptroller 49 on vouchers certified or approved by the state fire administrator in the 50 manner prescribed by law. 51 § 3. This act shall take effect immediately.