New York Senate Bill S02259 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 2259 2025-2026 Regular Sessions  IN SENATE January 16, 2025 ___________ Introduced by Sen. COONEY -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation AN ACT to amend the highway law, in relation to indexing appropriations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 2 of section 10-c of the highway law, as 2 amended by chapter 355 of the laws of 1999, is amended to read as 3 follows: 4 2. On or before the twenty-fifth day of April, June, September and 5 November of each state fiscal year commencing with the state fiscal year 6 beginning on April first, nineteen hundred eighty-four there shall be 7 distributed and paid to counties, cities, towns and villages an amount 8 equal to the moneys appropriated for the purposes of this section 9 divided by the number of payment dates in that state fiscal year. Such 10 amounts shall be distributed and paid pursuant to subdivision three of 11 this section. Provided, however, that on and after January first, two 12 thousand twenty-seven and on each following January first, the commis- 13 sioner shall index the level of such appropriations for subsequent state 14 fiscal years based on the national highway construction cost index for 15 the most recent twelve month period. The commissioner shall increase 16 appropriations by the rate of inflation for the most recent twelve month 17 period that is available at the time the adjusted rate is calculated and 18 announced using the national highway construction cost index, or a 19 successor index as calculated by the United States federal highway 20 administration, if such rate of inflation is greater than zero percent. 21 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03558-01-5