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| 1 | 1 | <STYLE><!--U {color: Green}S {color: RED} I {color: DARKBLUE; background-color:yellow} P.brk {page-break-before:always}--></STYLE> <BASEFONT SIZE=3> <PRE WIDTH="94"> <FONT SIZE=5><B> STATE OF NEW YORK</B></FONT> ________________________________________________________________________ 7951 2025-2026 Regular Sessions <FONT SIZE=5><B> IN ASSEMBLY</B></FONT> April 16, 2025 ___________ Introduced by M. of A. BEEPHAN -- read once and referred to the Commit- tee on Governmental Operations AN ACT to amend the state finance law, in relation to requiring state agencies to expend funds no later than ninety days after receipt of a certificate of approval from the director of the budget <B><U>The People of the State of New York, represented in Senate and Assem-</U></B> <B><U>bly, do enact as follows:</U></B> 1 Section 1. Section 179-ee of the state finance law is amended by 2 adding a new subdivision 4 to read as follows: 3 <B><U>4. A state agency shall expend funds to the organization approved to</U></B> 4 <B><U>receive such funds no later than ninety days after such agency's receipt</U></B> 5 <B><U>of the certificate of approval authorizing the expenditure of such</U></B> 6 <B><U>funds. If an agency expends funds later than ninety days after receipt</U></B> 7 <B><U>of a certificate of approval in violation of this subdivision, such</U></B> 8 <B><U>agency's budget appropriated for the following fiscal year shall be</U></B> 9 <B><U>reduced by one percent of the amount authorized under such certificate</U></B> 10 <B><U>of approval.</U></B> 11 § 2. Subdivision 1 of section 179-y of the state finance law, as 12 amended by chapter 292 of the laws of 2007, is amended to read as 13 follows: 14 1. The state comptroller shall: (a) promulgate such rules and regu- 15 lations as may be necessary to carry out the comptroller's responsibil- 16 ities under this article including provisions for repayment; [<B><S>and</S></B>] (b) 17 develop and implement a procedure for calculating the amount of inter- 18 est, if any, due to any not-for-profit organization pursuant to the 19 provisions of this article<B><U>; and (c) develop and implement a procedure</U></B> 20 <B><U>for calculating and reporting to the governor, the senate finance</U></B> 21 <B><U>committee, and the assembly ways and means committee, the amount of</U></B> 22 <B><U>reduction that shall be applied to a state agency's budget in the upcom-</U></B> 23 <B><U>ing fiscal year due to a failure to timely expend funds pursuant to</U></B> 24 <B><U>subdivision four of section one hundred seventy-nine-ee of this article</U></B>. 25 § 3. This act shall take effect immediately and shall apply to all 26 contracts awarded on and after such date. EXPLANATION--Matter in <B><U>italics</U></B> (underscored) is new; matter in brackets [<B><S> </S></B>] is old law to be omitted. LBD05487-01-5 |