NY Work Comp L § 27-C (2021)
2021 New York Laws WKC - Workers' Compensation Article 2 - Compensation 27-C - Appropriations to the Aggregate Trust Fund.

§   27-c.   Appropriations   to   the   aggregate   trust   fund.   1.   Notwithstanding any other provision of law, the  aggregate  trust  fund,   hereinafter  referred  to  as  the  fund,  and  all  state officers with   responsibility for the custody or investment of  such  fund  or  of  its   assets,  shall  annually,  no  later  than  November first in each year,   submit to the director of the budget a request for an  appropriation  of   one  hundred  sixty  million  dollars.  The  governor shall include such   amount in a budget bill for  the  next  state  fiscal  year.  The  state   comptroller  shall encumber the amount so appropriated before the end of   the fiscal year for which any such appropriation is  made.  If  for  any   fiscal  year  commencing  on  or  after  April  first,  nineteen hundred   eighty-three, the governor fails to submit a budget bill  containing  an   appropriation  in  the  amount  requested by the fund or the legislature   fails to appropriate the amount  in  a  budget  bill  submitted  by  the   governor   for  such  fiscal  year,  the  amount  appropriated  for  and   encumbered during the preceding fiscal year shall be  payable  forthwith   to  the  fund  on  the  first  day  of  July  of such year in the manner   prescribed by law, provided, however, that such amount shall not  exceed   the  amount  of  moneys  transferred  to  the  general  fund by the fund   pursuant to the provisions of chapter fifty-five of the laws of nineteen   hundred eighty-two and chapter seven of the  laws  of  nineteen  hundred   eighty-nine.2.  Notwithstanding any other provision of law, the fund and all state   officers with responsibility for the custody or investment of such  fund   or  of  its  assets shall annually, no later than November first in each   year, submit to the director of the budget the fund's additional request   for an appropriation of sixty million dollars  and  the  governor  shall   include  such  additional  amount  in  a  budget bill for the next state   fiscal  year.  The  state  comptroller  shall  encumber  the  amount  so   appropriated  before  the  end  of  the  fiscal  year for which any such   appropriation is made. If for any fiscal year  commencing  on  or  after   April  first,  nineteen  hundred  ninety  the governor fails to submit a   budget bill containing an appropriation in the amount requested  by  the   fund or the legislature fails to appropriate the amount in a budget bill   submitted  by the governor for such fiscal year, the amount appropriated   for and encumbered during the preceding fiscal  year  shall  be  payable   forthwith  to  the  fund  on  the  first day of July of such year in the   manner prescribed by law, provided, however, that such amount shall  not   exceed  the amount of moneys transferred to the general fund by the fund   pursuant to the provisions of a chapter of the laws of nineteen  hundred   eighty-nine.3.  It  is  hereby  found  and declared that any appropriation made as   provided for in subdivision one or two of this section shall  be  deemed   an  admitted asset of the aggregate trust fund, and that any transfer of   moneys by the fund to the general fund in accordance with the provisions   of chapter fifty-five  of  the  laws  of  nineteen  hundred  eighty-two,   chapter  seven  of the laws of nineteen hundred eighty-nine or a chapter   of the laws of nineteen hundred  eighty-nine  is  deemed  a  proper  and   prudent  legal undertaking for any state officer with the responsibility   for  the  custody  or  the  investment  of  the  assets  of  the   fund,   notwithstanding any other provision of law to the contrary.