Senate Bill S3980

2019-2020 Legislative Session

Relates to enacting a balanced budget requirement and creates the New York state governmental accounting review board

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-S3980 (ACTIVE) - Details

See Assembly Version of this Bill:
A7338
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add Art 3-A §§35 - 37, amd §22, St Fin L; amd §54, Leg L
Versions Introduced in Other Legislative Sessions:
2009-2010: S7284
2011-2012: S414
2013-2014: S3420
2015-2016: S2662
2017-2018: S5017
2021-2022: S1438, A6635
2023-2024: S3563

2019-S3980 (ACTIVE) - Summary

Enacts a balanced budget requirement and creates the New York state governmental accounting review board.

2019-S3980 (ACTIVE) - Sponsor Memo

2019-S3980 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3980
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 22, 2019
                                ___________
 
 Introduced by Sens. KRUEGER, MONTGOMERY, SERRANO, STAVISKY -- read twice
   and ordered printed, and when printed to be committed to the Committee
   on Finance
 
 AN  ACT  to  amend  the  state  finance  law and the legislative law, in
   relation to enacting a balanced budget requirement  and  creating  the
   New York state governmental accounting review board

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The state finance law is amended by adding  a  new  article
 3-A to read as follows:
                               ARTICLE III-A
                     BUDGETING ACCORDING TO GENERALLY
                      ACCEPTED ACCOUNTING PRINCIPLES
 SECTION 35. DEFINITIONS.
         36. DEVELOPMENT  OF  THE EXECUTIVE BUDGET SUBMISSION AND ENACTED
               BUDGET.
         37. NEW YORK STATE GOVERNMENTAL ACCOUNTING REVIEW BOARD.
   § 35. DEFINITIONS. AS USED IN THIS ARTICLE, THE  FOLLOWING  WORDS  AND
 TERMS  SHALL  HAVE  THE  FOLLOWING MEANINGS UNLESS THE CONTEXT OTHERWISE
 REQUIRES.
   1. "BOARD" MEANS NEW YORK STATE GOVERNMENTAL ACCOUNTING  REVIEW  BOARD
 PURSUANT TO SECTION THIRTY-SEVEN OF THIS ARTICLE.
   2.  "REVENUES"  MEAN  ALL  TAXES,  RENTS, FEES, CHARGES, PAYMENTS, ALL
 PROCEEDS FROM BORROWINGS AND OTHER INCOME AND RECEIPTS PAID  OR  PAYABLE
 TO OR FOR THE STATE'S TREASURY.
   3.  "GENERALLY  ACCEPTED  ACCOUNTING  PRINCIPLES"  MEANS  THE  SET  OF
 ACCOUNTING PRINCIPLES FOR FINANCIAL REPORTING ESTABLISHED BY THE  FINAN-
 CIAL  ACCOUNTING  STANDARDS  ADVISORY BOARD AND GOVERNED BY THE AMERICAN
 INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS FOR  FEDERAL  REPORTING  ENTI-
 TIES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08615-01-9
              

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