Bill Text: NY S04836 | 2021-2022 | General Assembly | Introduced

---

Bill Title: Requires the director of the budget to provide monthly budget updates to the legislature including a detailed description of revenue shortfalls, spending overages, and any proposed adjustments to appropriations or disbursements pursuant to authorization granted in the two thousand twenty-one-twenty-two enacted budget.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO FINANCE [S04836 Detail]

Download: New_York-2021-S04836-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                          4836

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 16, 2021
                                       ___________

        Introduced  by  Sen.  BIAGGI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Finance

        AN ACT to amend the state finance law,  in  relation  to  requiring  the
          director of the budget to provide monthly budget updates to the legis-
          lature; and providing for the repeal of such provisions upon the expi-
          ration thereof

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The state finance law is amended by adding  a  new  section
     2  22-d to read as follows:
     3    §  22-d.  Monthly financial updates. 1. On or before the first of each
     4  month, the director of the budget shall provide monthly updates  on  the
     5  economic  and  revenue outlook of the state. Such updates shall include,
     6  but not be limited to, a detailed  description  of  revenue  shortfalls,
     7  spending  overages,  cash flows, borrowing, and any proposed adjustments
     8  to appropriations or disbursements pursuant to authorization granted  in
     9  the  two  thousand twenty-one--twenty-two enacted budget. A copy of such
    10  updates shall be sent to the temporary president of the senate  and  the
    11  speaker of the assembly.  Such updates shall also be posted conspicuous-
    12  ly on the division of budget's website.
    13    2.  The  director  of  the  budget  shall provide a means by which any
    14  stakeholder or member of the public may submit comments  or  suggestions
    15  on such updates. The director of the budget shall take such comments and
    16  suggestions  into consideration when making any adjustments to appropri-
    17  ations and disbursements pursuant to authorization granted  in  the  two
    18  thousand twenty-one--twenty-two enacted budget.
    19    3. The director of the budget may provide any additional updates as he
    20  or she deems appropriate. Such additional updates shall be done pursuant
    21  to the process established in this section.
    22    §  2.  This  act shall take effect immediately and shall expire and be
    23  deemed repealed April 1, 2022.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01706-01-1