New York A 4483: Establishes an annual spending growth cap

Bill Text

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A04483 Summary:

BILL NOA04483 

&nbsp

SAME ASSAME AS S01296

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SPONSORJensen

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COSPNSR

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MLTSPNSR

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Add Art 17 §§244 - 246, St Fin L

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Establishes an annual spending growth cap.

Go to top A04483 Actions:

BILL NOA04483 

&nbsp

02/04/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA04483 Committee&nbspVotes:

Go to topA04483 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04483 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4483

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 4, 2025
 ___________

 Introduced by M. of A. JENSEN -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the state finance law, in relation to establishing a
 spending cap

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The state finance law is amended by adding a new article 17
 2 to read as follows:
 3 ARTICLE 17
 4 ANNUAL SPENDING GROWTH CAP ACT
 5 Section 244. Definitions.
 6 245. Establishment of annual spending growth cap.
 7 246. Provisions regarding declaration of emergency.
 8 § 244. Definitions. As used in this article, the following terms shall
 9 have the following meanings, unless otherwise specified:
 10 1. "Annual spending growth cap" shall mean a percentage determined by
 11 adding the inflation rates from each of the three calendar years imme-
 12 diately prior to the commencement of a given fiscal year and then divid-
 13 ing that sum by three or two percent, whichever is less.
 14 2. "State operating funds spending" shall mean annual disbursements of
 15 all governmental fund types included in the cash-basis financial plan of
 16 the state, excluding disbursements from federal funds and capital
 17 project funds.
 18 3. "Inflation rate" shall mean the percentage change in the twelve-
 19 month average of the consumer price index for all urban consumers as
 20 published by the United States department of labor, bureau of labor
 21 statistics or any successor agency for a given calendar year compared to
 22 the prior calendar year.
 23 4. "Executive budget" shall mean the budget submitted annually by the
 24 governor pursuant to section one of article VII of the state constitu-
 25 tion.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01635-01-5

 A. 4483 2

 1 5. "State budget as enacted" shall mean the budget acted upon by the
 2 legislature in a given fiscal year, as subject to section four of arti-
 3 cle VII of the state constitution and section seven of article IV of the
 4 state constitution.
 5 6. "Emergency" shall mean an extraordinary, unforeseen, or unexpected
 6 occurrence, or combination of circumstances, including but not limited
 7 to a natural disaster, invasion, terrorist attack, or economic calamity.
 8 § 245. Establishment of annual spending growth cap. 1. There is here-
 9 by established an annual spending growth cap.
 10 2. The governor shall not submit, and the legislature shall not act
 11 upon, a budget that contains a percentage increase over the prior fiscal
 12 year in state operating funds spending which exceeds the annual spending
 13 growth cap.
 14 3. The governor shall certify in writing that state operating funds
 15 spending in the executive budget does not exceed the annual spending
 16 growth cap. If final inflation rate data for the prior calendar year is
 17 not yet available at the time the governor submits their executive budg-
 18 et, the governor shall furnish a reasonable estimate of such prior
 19 calendar year inflation rate.
 20 4. The comptroller shall provide, within five days of action by the
 21 legislature upon the budget, a determination as to whether the state
 22 operating funds spending as set forth in the state budget as enacted
 23 exceeds the annual spending growth cap.
 24 5. If the comptroller finds that state operating funds spending as set
 25 forth in the state budget as enacted exceeds the annual spending growth
 26 cap, the governor shall take corrective action to ensure that funding is
 27 limited to the amount of the annual spending cap.
 28 § 246. Provisions regarding declaration