2023 New York Laws › STF - State Finance › Article 6 - Funds of the State › 72 - General Fund.

§  72.  General  fund.  1. Notwithstanding any provision of law to the
contrary, the general fund of this state shall be defined and maintained
in accordance with the provisions of this section and shall account  for
all  financial  resources  of  the  state  except  those  required to be
accounted for in other funds as defined in this chapter.
2. (a) There shall be within the general fund a separate account which
shall be designated and known as the local assistance account and  shall
reflect all expenditures made for local assistance.
(b)  There  shall  be within the general fund a separate account which
shall be designated and known as the state purposes  account  and  shall
reflect all expenditures made for state purposes.
3.  Notwithstanding  any inconsistent provision of subdivision five of
section four of this  chapter,  any  moneys  in  the  general  fund  not
required  for cash disbursements pursuant to general fund appropriations
may, in amounts determined and certified by the director of the  budget,
be transferred to the capital projects fund or any debt service fund for
the purpose of making payments from such fund pursuant to appropriations
by  law,  provided that, any balance of moneys so transferred, remaining
in such fund at the close of each month shall be returned to the general
fund. No such transfer shall be made until a certificate of approval  of
availability  for  so  much  as shall be necessary to make disbursements
pursuant to appropriations by law from such  capital  projects  or  debt
service  fund for the balance of the month shall have been issued by the
budget director and a copy of such certificate of  approval  filed  with
the  state comptroller, the chairman of the senate finance committee and
the chairman of the assembly ways and means committee.
4. (a) Any balance of moneys in any debt service  fund  in  excess  of
both  the  debt principal and interest payments required to be made from
such fund during the current fiscal year, or during future fiscal years,
and any reserve requirement established by statute or by a relevant bond
covenant, shall be transferred to the general fund.
* (b) On or before the beginning of each quarter, the director of  the
budget  may  certify  to  the  state comptroller the estimated amount of
monies that shall be reserved in the general debt service fund  for  the
payment of debt service and related expenses payable by such fund during
each  month  of  the  state fiscal year, excluding payments due from the
revenue bond tax fund. Such certificate may be periodically updated,  as
necessary.  Notwithstanding  any  provision  of law to the contrary, the
state comptroller shall reserve in the general  debt  service  fund  the
amount  of  monies  identified  on such certificate as necessary for the
payment of debt service and related expenses during the current or  next
succeeding  quarter of the state fiscal year. Such monies reserved shall
not be available for  any  other  purpose.  Such  certificate  shall  be
reported  to  the  chairpersons  of the Senate Finance Committee and the
Assembly Ways and Means Committee.  The  provisions  of  this  paragraph
shall expire June thirtieth, two thousand twenty-six.
* NB Expires June 30, 2026