Source: https://www.scribd.com/doc/53353543/oscb4
Timestamp: 2015-11-27 20:58:46
Document Index: 543924692

Matched Legal Cases: ['§ 10', '§ 2', '§ 11', '§ 3', '§ 16', '§ 4', '§ 1', '§ 5', '§ 1', '§ 6', '§ 2', '§ 7', 'art-1', 'art-1']

P. 1oscb4oscb4|Views: 3|Likes: 0Published by nr0823More info:Published by: nr0823 on Apr 19, 2011Copyright:Attribution Non-commercialAvailability:Read on Scribd mobile: iPhone, iPad and Android.download as PDF, TXT or read online from ScribdFlag for inappropriate content|Add to collectionSee moreSee lesshttps://www.scribd.com/doc/53353543/oscb407/15/2014pdftextoriginalIN SENATE____________________________________________________Senate introducer's signature
s20 Adams s44 Farley s58 Kennedy s18 Montgomery s23 Savino
s15 Addabbo s02 Flanagan s34 Klein s54 Nozzolio s28 Serrano
s55 Alesi s08 Fuschillo s26 Krueger s53 O'Mara s51 Seward
s11 Avella s59 Gallivan s27 Kruger s37 Oppenheimer s09 Skelos
s40 Ball s12 Gianaris s24 Lanza s21 Parker s14 Smith
s42 Bonacic s22 Golden s39 Larkin s13 Peralta s25 Squadron
s46 Breslin s47 Griffo s01 LaValle s30 Perkins s16 Stavisky
s38 Carlucci s60 Grisanti s52 Libous s61 Ranzenhofer s35 Stewart-
s50 DeFrancisco s06 Hannon s45 Little s48 Ritchie Cousins
s32 Diaz s36 Hassell- s05 Marcellino s33 Rivera s49 Valesky
s17 Dilan Thompson s07 Martins s56 Robach s57 Young
s29 Duane s10 Huntley s62 Maziarz s41 Saland s03 Zeldin
s31 Espaillat s04 Johnson s43 McDonald s19 Sampson
a049 Abbate a107 Crouch a042 Jacobs a121 Miller, D. a068 Rodriguez
a092 Abinanti a014 Curran a095 Jaffee a102 Miller, J. a067 Rosenthal
a105 Amedore a063 Cusick a057 Jeffries a038 Miller, M. a118 Russell
a084 Arroyo a045 Cymbrowitz a135 Johns a052 Millman a012 Saladino
a035 Aubry a034 DenDekker a112 Jordan a103 Molinaro a113 Sayward
a124 Barclay a116 Destito a099 Katz a015 Montesano a029 Scarborough
a040 Barron a081 Dinowitz a074 Kavanagh a132 Morelle a016 Schimel
a082 Benedetto a114 Duprey a065 Kellner a039 Moya a140 Schimminger
a073 Bing a004 Englebright a100 Kirwan a003 Murray a145 Schroeder
a122 Blankenbush a071 Farrell a129 Kolb a037 Nolan a064 Silver
a055 Boyland a123 Finch a025 Lancman a128 Oaks a036 Simotas
a008 Boyle a007 Fitzpatrick a091 Latimer a069 O'Donnell a146 Smardz
a026 Braunstein a137 Friend a013 Lavine a051 Ortiz a093 Spano
a044 Brennan a143 Gabryszak a050 Lentol a136 Palmesano a079 Stevenson
a131 Bronson a090 Galef a125 Lifton a088 Paulin a011 Sweeney
a046 Brook-Krasny a133 Gantt a072 Linares a141 Peoples- a110 Tedisco
a147 Burling a077 Gibson a127 Lopez, P. Stokes a115 Tenney
a117 Butler a149 Giglio a053 Lopez, V. a058 Perry a002 Thiele
a101 Cahill a066 Glick a001 Losquadro a023 Pheffer a061 Titone
a096 Calhoun a150 Goodell a126 Lupardo a087 Pretlow a031 Titus
a043 Camara a075 Gottfried a111 Magee a021 Ra a062 Tobacco
a106 Canestrari a005 Graf a120 Magnarelli a097 Rabbitt a054 Towns
a089 Castelli a098 Gunther a059 Maisel a009 Raia a041 Weinstein
a086 Castro a130 Hanna a060 Malliotakis a006 Ramos a020 Weisenberg
a138 Ceretto a139 Hawley a030 Markey a134 Reilich a024 Weprin
a033 Clark a148 Hayes a027 Mayersohn a109 Reilly a070 Wright
a047 Colton a083 Heastie a019 McDonough a078 Rivera, J. a094 Zebrowski
a010 Conte a028 Hevesi a104 McEneny a080 Rivera, N.
a032 Cook a048 Hikind a017 McKevitt a076 Rivera, P.
a142 Corwin a018 Hooper a108 McLaughlin a119 Roberts
a085 Crespo a144 Hoyt a022 Meng a056 Robinson
limit on state funded debt and
Const. state debt
the refunding of state debts,
committees, consensus forecasting
04/05/11 2 89124-02-1
1 Section 1. Resolved (if the concur), That section 10 of article
2 7 of the constitution be amended to read as follows:
3 § 10. In addition to the above limited power to contract debts, the
4 state may contract debts to repel invasion, suppress insurrection, [or]
5 defend the state in war, [or] to suppress forest fires or to respond to ________________
6 any other emergency stemming from a disaster including, but not limited ________________________________________________________________________
7 to, a disaster caused by an act of terrorism; but the money arising from ____________________________________________
8 the contracting of such debts shall be applied for the purpose for which
9 it was raised, or to repay such debts, and to no other purpose whatever.
10 No debt shall be contracted pursuant to this section without the concur- ________________________________________________________________________
11 rence of the governor, the comptroller, and a majority of the members ________________________________________________________________________
12 elected to each branch of the legislature; and the governor shall have ________________________________________________________________________
13 power to summon the comptroller and convene the legislature in extraor- ________________________________________________________________________
14 dinary session for the purpose of considering such emergency debt. At ________________________________________________________________________
15 the time, date and place appointed by the governor, no other subject ________________________________________________________________________
16 shall be acted upon until each, in the following order, has given their ________________________________________________________________________
17 approval or any one thereof has given their disapproval of the debt ________________________________________________________________________
18 proposed by the governor to enable the state to respond to such emergen- ________________________________________________________________________
19 cy: the governor, the comptroller, the senate and the assembly. The ________________________________________________________________________
20 proposal of such emergency debt shall be in the form of a resolution ________________________________________________________________________
21 prepared and submitted by the governor to the comptroller, the senate ________________________________________________________________________
22 and the assembly, who shall approve or disapprove such resolution with- ________________________________________________________________________
23 out any changes thereto; and if such resolution is approved by the ________________________________________________________________________
24 governor, the comptroller, and a majority of the members elected to each ________________________________________________________________________
25 branch of the legislature, then such law or laws shall be enacted as may ________________________________________________________________________
26 be necessary or advisable to implement such approval. _____________________________________________________
27 § 2. Resolved (if the concur), That section 11 of article 7 of
28 the constitution be amended to read as follows:
04/05/11 3 89124-02-1
1 § 11. 1. Except the debts or refunding debts specified in sections 9, __
2 10 and 13 of this article, no debt shall be hereafter contracted by or
3 [in] on behalf of the state, unless such debt shall be authorized by law __
4 pursuant to this section, for some single work or purpose, to be ________________________
5 distinctly specified therein. [No such] Debt subject to the provisions ______________________________
6 of this section shall include any debt or obligation, other than debt or ________________________________________________________________________
7 refunding debt incurred pursuant to sections 9, 10 and 13 of this arti- ________________________________________________________________________
8 cle, supported in whole or in part by any financing arrangement whereby ________________________________________________________________________
9 the state agrees, whether by law, contract, or otherwise, to make ________________________________________________________________________
10 payments which are to be used, directly or indirectly, for the payment ________________________________________________________________________
11 of principal, interest, or related payments on indebtedness incurred or ________________________________________________________________________
12 contracted by the state itself for any purpose, or by any state agency, ________________________________________________________________________
13 municipality, individual, public authority or other public or private ________________________________________________________________________
14 corporation or any other entity for state capital or operating purposes ________________________________________________________________________
15 or to finance grants, loans or other assistance payments made or to be ________________________________________________________________________
16 made by or on behalf of the state for any purpose. If the state agrees ________________________________________________________________________
17 or has agreed on or after April first, nineteen hundred ninety-seven to ________________________________________________________________________
18 make future revenues from a specific state source available for the ________________________________________________________________________
19 purpose of supporting debt of any municipality, individual, public or ________________________________________________________________________
20 private corporation or any other entity, or, if on or after such date, a ________________________________________________________________________
21 program of debt is authorized to be issued where state aid is intended ________________________________________________________________________
22 to be the sole source of payment of debt service, such debt shall be ________________________________________________________________________
23 considered to be a debt for the purpose of financing a state grant, loan ________________________________________________________________________
24 or other assistance payment and shall be subject to the provisions of ________________________________________________________________________
25 this section. The provisions of this section shall apply (i) whether or ________________________________________________________________________
26 not the obligation of the state to make payments is subject to appropri- ________________________________________________________________________
27 ation, or (ii) whether or not debt service is to be paid from a revenue ________________________________________________________________________
04/05/11 4 89124-02-1
1 stream transferred by the state to another party that is responsible for ________________________________________________________________________
2 making such payments. _____________________
3 2. The legislature may, by law, authorize the state to contract debt ______________________________________________________________________
4 secured by a pledge of specific state revenues authorized by such law to ________________________________________________________________________
5 be deposited in a dedicated trust fund or funds created for a single ________________________________________________________________________
6 capital work or purpose. The legislature shall, by law, identify the ________________________________________________________________________
7 capital work or purpose to be financed with such debt. Revenues in ________________________________________________________________________
8 excess of the required payments of debt service and related payments on ________________________________________________________________________
9 such debt shall be available for other purposes, as provided by law. ____________________________________________________________________
10 3. Except as provided in subdivision 5 of this section, no law author- __________________________________________________________ _______
11 izing debt to be created by the state pursuant to subdivisions 1 and 2 ________________________________________________________________________
12 of this section shall take effect until it shall, at a general election, _______________
13 have been submitted to the people, and have received a majority of all
14 the votes cast for and against it at such election nor shall it be
15 submitted to be voted on within three months after its passage [nor at
16 any general election when any other law or any bill shall be submitted
17 to be voted for or against] by the legislature. __________________
18 The legislature may, at any time after the approval of such law by the
19 people, if no debt shall have been contracted in pursuance thereof,
20 repeal the same; and may at any time, by law, forbid the contracting of
21 any further debt or liability under such law.
22 4. During the fiscal year beginning April first, two thousand twenty- ______________________________________________________________________
23 one and in every fiscal year thereafter, no debt authorized pursuant to ________________________________________________________________________
24 this section shall be incurred unless the total principal amount of debt ________________________________________________________________________
25 to be incurred pursuant to such law, together with the total principal ________________________________________________________________________
26 amount of debt already outstanding, shall be equal to or less than five ________________________________________________________________________
27 percent of the total personal income of the state as determined by law. ________________________________________________________________________
28 Debt subject to the limit imposed by this section shall include all ________________________________________________________________________
04/05/11 5 89124-02-1
1 debt, whenever issued, described in subdivisions 1 and 2 of this section ________________________________________________________________________
2 but shall not include the debts specified in sections 9, 10 and 13 of ________________________________________________________________________
3 this article. _____________
4 5. During any fiscal year, debt in the combined aggregate amount of ______________________________________________________________________
5 two hundred fifty million dollars may be incurred pursuant to a law or ________________________________________________________________________
6 laws that are not submitted for approval by the people. Such debt shall ________________________________________________________________________
7 be incurred only for critical capital needs. However, in no event shall ________________________________________________________________________
8 debt incurred in fiscal years beginning in two thousand twenty-one and ________________________________________________________________________
9 thereafter pursuant to such law or laws result in a total principal ________________________________________________________________________
10 amount of debt in excess of the limit determined pursuant to subdivision ________________________________________________________________________
11 4 of this section. __________________
12 6. (i) All debt subject to the provisions of this section shall, ______________________________________________________________________
13 except for refunding debt, be incurred only for a capital purpose ________________________________________________________________________
14 authorized by law, and (ii) all debt subject to the provisions of this ________________________________________________________________________
15 section and all debt and refunding debt specified in sections 9, 10 and ________________________________________________________________________
16 13 of this article shall, if incurred on or after the first day of the ________________________________________________________________________
17 first fiscal year beginning at least one year after the date this subdi- ________________________________________________________________________
18 vision shall have taken effect, be in the form of obligations issued by ________________________________________________________________________
19 the comptroller. ________________
20 7. Nothing contained in this section shall invalidate debt obligations ______________________________________________________________________
21 outstanding on the date this subdivision shall have taken effect that ________________________________________________________________________
22 would be subject to the provisions of this section if incurred after the ________________________________________________________________________
23 date this subdivision shall have taken effect, and the state may contin- ________________________________________________________________________
24 ue to provide for payments related to such debt on the same terms under ________________________________________________________________________
25 which such debt was incurred; provided, however, that no such debt shall ________________________________________________________________________
26 be refunded unless such refunding complies in all respects with the ________________________________________________________________________
27 requirements of section 13 of this article. The provisions of section 16 ________________________________________________________________________
28 of this article shall not apply to state payments with respect to any ________________________________________________________________________
04/05/11 6 89124-02-1
1 such outstanding obligations unless such provisions would have applied ________________________________________________________________________
2 prior to the date this subdivision shall have taken effect. ___________________________________________________________
3 8. Debt obligations issued to refund outstanding state debt, regard- ______________________________________________________________________
4 less of whether such outstanding debt was incurred prior to the date ________________________________________________________________________
5 this subdivision shall have taken effect, shall not be counted for the ________________________________________________________________________
6 purposes of the limit imposed by subdivision 3 of this section if such ________________________________________________________________________
7 refunding complies in all respects with section 13 of this article. For ________________________________________________________________________
8 purposes of this subdivision and subdivision 7 of this section, any ________________________________________________________________________
9 refunding debt that does not extend beyond the final maturity of the ________________________________________________________________________
10 debt being refunded shall be deemed to comply with the provisions of ________________________________________________________________________
11 subdivision 6 of section 13 of this article, provided that there is an ________________________________________________________________________
12 actual debt service savings in every year to maturity as a result of the ________________________________________________________________________
13 issuance of the refunding debt. _______________________________
14 9. After the date this section shall have taken effect, the state ______________________________________________________________________
15 shall not, except as specifically authorized in another section of this ________________________________________________________________________
16 constitution, agree to make payments, directly or indirectly, whether or ________________________________________________________________________
17 not subject to appropriation, that are to be available to pay debt ________________________________________________________________________
18 service on any debt incurred by a municipality, individual, public ________________________________________________________________________
19 authority or other public or private corporation or any other entity, ________________________________________________________________________
20 for any purpose, if such payments are expected to be used to pay debt ________________________________________________________________________
21 service only if other sources available for the payment of debt service ________________________________________________________________________
22 are inadequate. Any provision requiring the state to replace monies used ________________________________________________________________________
23 to pay debt service shall be included in the prohibition set forth in ________________________________________________________________________
24 this subdivision. Outstanding debt that would be prohibited by this ________________________________________________________________________
25 subdivision if such debt had been incurred after the date this subdivi- ________________________________________________________________________
26 sion shall have taken effect may be refunded by the entity that incurred ________________________________________________________________________
27 the outstanding debt provided that the provisions of subdivisions 7 and ________________________________________________________________________
04/05/11 7 89124-02-1
1 8 of this section are complied with except the requirement that such ________________________________________________________________________
2 refunding debt obligations be issued by the comptroller. ________________________________________________________
3 10. The legislature may, at any time after the enactment or approval ______________________________________________________________________
4 of law authorizing the state to contract debt pursuant to this section, ________________________________________________________________________
5 if no debt shall have been contracted in pursuance thereof, repeal the ________________________________________________________________________
6 same; and may at any time, by law, forbid the contracting of any further ________________________________________________________________________
7 debt or liability under such law. _________________________________
8 § 3. Resolved (if the concur), That section 16 of article 7 of
9 the constitution be amended to read as follows:
10 § 16. The legislature shall annually provide by appropriation for the
11 payment of the interest upon and installments of principal of all debts
12 or refunding debts created on behalf of the state except those
13 contracted under section 9 of this article, as the same shall fall due,
14 and for the contribution to all of the sinking funds created by law, of
15 the amounts annually to be contributed under the provisions of section
16 12, 13 or 15 of this article. [If] With respect to debt contracted other _____________________________________
17 than pursuant to subdivision 2 of section 11 of this article, if at any ________________________________________________________________
18 time the legislature shall fail to make any such appropriation, the
19 comptroller shall set apart from the first revenues thereafter received,
20 applicable to the general fund of the state, a sum sufficient to pay
21 such interest, installments of principal, or contributions to such sink-
22 ing fund, as the case may be, and shall so apply the moneys thus set
23 apart. If at any time the legislature shall fail to make an appropri- ________________________________________________________________
24 ation for the payment of interest or installments of principal or sink- ________________________________________________________________________
25 ing fund payments or related payments on any debt contracted pursuant to ________________________________________________________________________
26 subdivision 2 of section 11 of this article, the comptroller shall set ________________________________________________________________________
27 apart from the first revenues received and pledged to such payments, a ________________________________________________________________________
28 sum sufficient to pay such interest or installment of principal or ________________________________________________________________________
04/05/11 8 89124-02-1
1 contributions to such sinking fund payments or related payments, and ________________________________________________________________________
2 shall so apply the moneys thus set apart, provided however that such ________________________________________________________________________
3 revenues must be set aside and applied in a manner which ensures that ________________________________________________________________________
4 pledged revenues are applied only to payments on debt for which such ________________________________________________________________________
5 revenues were pledged pursuant to subdivision 2 of section 11 of this ________________________________________________________________________
6 article. The comptroller may be required to set aside and apply such ________
7 revenues as aforesaid, at the suit of any holder of such bonds.
8 Notwithstanding the foregoing provisions of this section, the comp-
9 troller may covenant with the purchasers of any state obligations that
10 they shall have no further rights against the state for payment of such
11 obligations or any interest thereon after an amount or amounts deter-
12 mined in accordance with the provisions of such covenant is deposited in
13 a described fund or with a named or described agency or trustee. In such
14 case, this section shall have no further application with respect to
15 payment of such obligations or any interest thereon after the comp-
16 troller has complied with the prescribed conditions of such covenant.
17 § 4. Resolved (if the concur), That article 7 of the constitu-
18 tion be amended by adding a new section 1-a to read as follows:
19 § 1-a. Within ten days following the submission of the budget by the ______________________________________________________________________
20 governor pursuant to this article, such bills shall be referred to a ________________________________________________________________________
21 joint budget conference committee to consider and reconcile such budget ________________________________________________________________________
22 resolution or budget bills as may be passed by each house. The temporary ________________________________________________________________________
23 president of the senate and the speaker of the assembly shall jointly ________________________________________________________________________
24 convene such joint budget conference committee. Such conference commit- ________________________________________________________________________
25 tee meetings shall be required to meet and shall be open to the public. _______________________________________________________________________
26 § 5. Resolved (if the concur), That article 7 of the constitu-
27 tion be amended by adding a new section 1-b to read as follows:
04/05/11 9 89124-02-1
1 § 1-b. 1. By the end of February in each year, prior to the report ______________________________________________________________________
2 required by subdivision 2 of this section, the chairperson and ranking ________________________________________________________________________
3 minority member of the senate finance committee, the chairperson and ________________________________________________________________________
4 ranking minority member of the assembly ways and means committee and the ________________________________________________________________________
5 director of the budget shall jointly convene a consensus economic and ________________________________________________________________________
6 revenue forecasting conference in the form of a joint legislative-execu- ________________________________________________________________________
7 tive hearing, for the purpose of assisting the governor and the legisla- ________________________________________________________________________
8 ture in reaching the consensus revenue forecast required by subdivision ________________________________________________________________________
9 2 of this section. The conveners of the conference shall invite the ________________________________________________________________________
10 state comptroller and such other participants to the conference as ________________________________________________________________________
11 shall, in their judgment, provide guidance on the current conditions in, ________________________________________________________________________
12 and probable outlook for the performance of, the economy of the state, ________________________________________________________________________
13 as well as the effect of such conditions and such performance on state ________________________________________________________________________
14 receipts. _________
15 2. On or before March first in each year, the director of the budget ______________________________________________________________________
16 and the secretary of the senate finance committee and the secretary of ________________________________________________________________________
17 the assembly ways and means committee shall issue a joint report ________________________________________________________________________
18 containing a consensus forecast of the economy and specific binding ________________________________________________________________________
19 estimates of receipts and any and all other available resources used to ________________________________________________________________________
20 support disbursement for the current and the ensuing state fiscal year. ________________________________________________________________________
21 Such estimates shall include, but not be limited to: expected tax ________________________________________________________________________
22 receipts on an all-funds basis, projected lottery receipts, anticipated ________________________________________________________________________
23 miscellaneous receipts and other financing sources including, but not ________________________________________________________________________
24 limited to, re-estimates that would lower current projected disburse- ________________________________________________________________________
25 ments as well as other resources that would be used to support disburse- ________________________________________________________________________
26 ments. The estimate of receipts for the ensuing fiscal year contained in ________________________________________________________________________
27 the report shall be all receipts from such sources described in this ________________________________________________________________________
28 subdivision available to make disbursements authorized by the the appro- ________________________________________________________________________
04/05/11 10 89124-02-1
1 priation bills submitted by the governor pursuant to section 3 of this ________________________________________________________________________
2 article for the ensuing fiscal year. The comptroller shall comment on ________________________________________________________________________
3 the reasonableness and reliability of the consensus forecast. _____________________________________________________________
4 3. On a failure of the director of the budget, the secretary of the ______________________________________________________________________
5 senate finance committee and the secretary of the assembly ways and ________________________________________________________________________
6 means committee to issue a joint report containing a consensus forecast ________________________________________________________________________
7 as provided in subdivision 2 of this section, or if the state comp- ________________________________________________________________________
8 troller rejects such forecast, the state comptroller shall, on or before ________________________________________________________________________
9 March fifth, provide binding estimates of receipts and other resources ________________________________________________________________________
10 for the current and the ensuing state fiscal year. Such estimates shall ________________________________________________________________________
11 include, but not be limited to, expected tax receipts on an all-funds ________________________________________________________________________
12 basis, projected lottery receipts, miscellaneous receipts, anticipated ________________________________________________________________________
13 miscellaneous receipts and other financing sources including re-esti- ________________________________________________________________________
14 mates that would lower current projected disbursements as well as other ________________________________________________________________________
15 resources that would be used to support disbursements. In rendering his ________________________________________________________________________
16 or her estimate, as required in this subdivision, the comptroller shall ________________________________________________________________________
17 give due consideration to the inherent risks in economic and revenue ________________________________________________________________________
18 forecasting and the interest of the state to maintain budget balance ________________________________________________________________________
19 throughout the fiscal year. The estimate of receipts for the ensuing ________________________________________________________________________
20 fiscal year provided by the state comptroller shall be all receipts and ________________________________________________________________________
21 other resources from such sources available to make disbursements ________________________________________________________________________
22 authorized by the appropriation bills submitted by the governor pursuant ________________________________________________________________________
23 to section 3 of this article for the ensuing fiscal year. _________________________________________________________
24 § 6. Resolved (if the concur), That section 2 of article 7 of
25 the constitution be amended to read as follows:
26 § 2. Annually, on or before the first day of February in each year
27 following the year fixed by the constitution for the election of gover-
28 nor and lieutenant governor, and on or before the second Tuesday follow-
04/05/11 11 89124-02-1
1 ing the first day of the annual meeting of the legislature, in all other
2 years, the governor shall submit to the legislature a budget containing
3 a complete plan of expenditures proposed to be made before the close of
4 the ensuing fiscal year and all moneys and revenues estimated to be
5 available therefor, together with an explanation of the basis of such
6 estimates and recommendations as to proposed legislation, if any, which
7 the governor may deem necessary to provide moneys and revenues suffi-
8 cient to meet such proposed expenditures. It shall also contain such
9 other recommendations and information as the governor may deem proper
10 and such additional information as may be required by law.
11 Annually, as provided by law, the governor shall submit to the legis- ______________________________________________________________________
12 lature a detailed long-term capital program and financing plan concur- ________________________________________________________________________
13 rent with the executive budget. _______________________________
14 § 7. Resolved (if the concur), That the foregoing amendments be
15 referred to the first regular legislative session convening after the
16 next succeeding general election of members of the assembly, and, in
17 conformity with section 1 of article 19 of the constitution, be
18 published for 3 months previous to the time of such election.
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