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Sponsor's memo
BILL NUMBER:A10415
Title of bill
An act directing the transfer of certain unspent funds into the property tax circuit breaker reserve fund
Purpose or general idea of bill
This bill directs any unspent and uncommitted discretionary funds allocated to a member of the Legislature into the Property Tax Circuit Breaker Reserve fund at the close of the State fiscal year.
Summary of specific provisions
Section 1. Transfers any unspent and uncommitted discretionary funds allocated to a member of the legislature to the Property Tax circuit Breaker Reserve Fund established by Section 92-gg of the State Finance law.
Section 2. Provides the effective date.
Justification
Often times, unspent discretionary funds from a certain fiscal year are carried over into future fiscal years, and are spent at the will of the legislature. This legislation seeks to provide relief to the State's property tax payers, by transferring unspent discretionary funds into the property tax circuit breaker reserve fund.
Prior legislative history
New Bill.
Fiscal implications
To be determined.
Effective date
Same day and in the same manner as Section 3 of Part Q of a Chapter of the Laws of 2010, as proposed in legislative bill numbers S.6610 and A.9710-A
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.