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Sponsors
Senator · Senate District 40
No co-sponsors yet.
History
- Referred to finance
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 establishing a state operating funds spending cap
In Assembly Committee · Ways And Means · Sponsor Steven McLaughlin
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6427
Title of bill
An act to amend the state finance law, in relation to capping state spending
Purpose
Relates to establishing a state operating funds spending cap.
Summary of provisions
Section 1. The state finance law is amended by adding a new section 28.
Section 1: Requires state operating funds spending be capped at the rate of inflation averaged over the prior 3 years.
Section 2: Requires the Governor and legislature not act or approve a budget not in accordance with Section 1.
Section 3: Requires the Governor certify that state operating funds spending does not exceed provisions of Section 1.
Section 4: Requires the comptroller to provide a determination within five days as to whether the proposed budget exceeds the cap.
Section 5: If the comptroller finds that the cap has been exceeded the legislature must take corrective action to level within the cap.
Justification
The state legislature has dictated that school districts and local governments must cap their operating budgets, yet, there are no spending controls in place for the state legislature and New York's annual operating budget. Tax dollars are being spent at record levels. The savings of middle-class families continue to be depleted. A state spending cap will ensure a bright future for economic growth and help middle-class New Yorkers save their hard-earned money.
If a state spending cap had been in effect from 2000-2010, New York State would have saved over $30 billion. That's $30 billion in spending paid for by higher taxes on families and job creators. We have a tax problem in New York because the legislature has a spending problem.
While New York State spends more each year on its lavish programs, the state legislature takes over 90 percent of Rensselaer County Executive Kathy Jimino's budget County Executive Jimino has had to make the tough choice between eliminating programs for seniors and cutting services to youth because of Albany mandates, This bill will allow New York State only to raise spending at a level average to the rate of inflation which will provide for better stability and security for New York's middle-class families.
Legislative history
New bill.
Fiscal implications
None to the State
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.