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Sponsors
Senator · Senate District 5
2 Co-sponsors
History
- Reported and committed to finance
- Print number 4440a
- Amend and recommit to environmental conservation
- Referred to environmental conservation
- Reported and committed to finance
- Referred to environmental conservation
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to transfers from the environmental protection fund to the general fund
In Assembly Committee · Environmental Conservation · Sponsor Patricia Fahy
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4440A
Title of bill
An act to amend the environmental conservation law, the state finance law and the tax law, in relation to transfers from the environmental protection fund to the general fund
Purpose
Requires the Division of the Budget and the State Comptroller to develop a plan for repayment to the Environmental Protection Fund (EPF) for monies transferred from the EPF to the general fund over the next 5 years.
Summary of provisions
Adds a new paragraph to section 54-0109 of the Environmental Conserva- tion Law to require the Division of the Budget in consultation with the State Comptroller to develop a plan of repayment for funds that have been previously reallocated to the General Fund from the Environmental Protection Fund.
Adds a subdivision 10 of Section 92-s of the State Finance Law that requires that no later than April 1, 2016 deposits are made pursuant to section 54-0109 and must be completed by April 1, 2021 for those past transfers that were made from the Environmental Protection Fund to the General Fund.
Subdivision 9 of section 92-s of the State Finance Law is amended to define the aggregate amount of all transfers shall not exceed $507,171,000.
Section 1421 of the Tax Law is amended to specify the amount from the Real Estate Transfer Tax of $149 million will be deposited in the EPF for the fiscal year beginning April 1, 2015; the amount $179 million deposited in the EPF on April 1, 2016; the amount $190 million deposited in the EPF on April 1, 2017; the amount $239 million deposited in the EPF for four fiscal years beginning April 1, 2018 and the amount of $272 million deposited in the EPF for the fiscal year April 1, 2019 and each additional year thereafter.
Justification
The Environmental Protection Fund is a treasured and vital money source for hundreds of New York State environmental initiatives. Due to state budgetary needs, funding that was allocated to the EPF has been swept into the general fund, depleting the monies that so many environmental programs rely upon greatly.
Legislative history
2008-09:S. 7523 Passed Senate (similar legislation)
Fiscal implications
None.
Effective date
This law shall take effect April 1, 2015; provided, however, if this act shall become a law after such date it shall take effect immediately and shall be deemed to have been in full force and effect on and after April 1, 2015.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.