S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4929
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by M. of A. JONES -- read once and referred to the Committee
   on Local Governments
 
 AN ACT to amend the executive  law,  in  relation  to  establishing  the
   volunteer  fire  departments capital fund; and making an appropriation
   therefor
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The executive law is amended by adding a new section 156-i
 to read as follows:
    § 156-I. VOLUNTEER FIRE DEPARTMENTS CAPITAL FUND. 1.  DEFINITIONS. AS
 USED IN THIS SECTION, THE FOLLOWING WORDS AND  PHRASES  SHALL  HAVE  THE
 FOLLOWING MEANINGS:
   (A)  "CAPITAL  FUND" SHALL MEAN THE VOLUNTEER FIRE DEPARTMENTS CAPITAL
 FUND AUTHORIZED TO BE ESTABLISHED BY THE OFFICE AND ADMINISTERED  PURSU-
 ANT TO THIS SECTION.
   (B)  "PARTICIPATING  GRANTEE" OR "GRANTEE" SHALL MEAN A VOLUNTEER FIRE
 DEPARTMENT.
   2. CAPITAL FUND ESTABLISHED. (A) THE OFFICE, WITHIN AMOUNTS  APPROPRI-
 ATED, SHALL ESTABLISH THE VOLUNTEER FIRE DEPARTMENTS CAPITAL FUND.
   (B)  MONIES  IN  THE CAPITAL FUND SHALL BE UTILIZED FOR THE PURPOSE OF
 MAKING GRANTS TO QUALIFYING PARTICIPATING  GRANTEES  BASED  ON  CRITERIA
 ESTABLISHED BY THE OFFICE.
   (C)  FUNDS  SHALL  BE  TRANSFERRED BY THE COMMISSIONER OF TAXATION AND
 FINANCE TO THE OFFICE FOR DEPOSIT IN THE CAPITAL FUND IN  AN  AMOUNT  AS
 AUTHORIZED BY APPROPRIATION.
   (D)  MONIES  IN  THE FUND SHALL BE: (I) HELD BY THE OFFICE PURSUANT TO
 THIS SECTION AS CUSTODIAN PURSUANT TO AN AGREEMENT WITH THE  COMPTROLLER
 UNTIL  TRANSFERRED  TO  THE  GRANTEE  PURSUANT TO THIS SECTION; AND (II)
 INVESTED BY THE OFFICE IN ACCORDANCE WITH THE INVESTMENT  GUIDELINES  OF
 THE  COMPTROLLER  DURING  SAID  CUSTODIAL  PERIOD. ALL INVESTMENT INCOME
 SHALL BE CREDITED TO, AND SHALL BE DEPOSITED IN, THE CAPITAL FUND.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05498-01-3
              

 A. 4929                             2
 
   3. ADMINISTRATION. THE CUSTODY OF, AND RESPONSIBILITY FOR, THE CAPITAL
 FUND SHALL BE TAKEN UP BY THE OFFICE, IN COMPLIANCE WITH ALL  APPLICABLE
 LAWS,  RULES, REGULATIONS AND OTHER REQUIREMENTS. SUCH ADMINISTRATION OF
 THE CAPITAL FUND SHALL INCLUDE, BUT NOT BE LIMITED TO:
   (A)  THE  OFFICE  SHALL BE RESPONSIBLE FOR THE RECEIPT, MANAGEMENT AND
 EXPENDITURE OF MONIES HELD IN THE CAPITAL FUND;
   (B) THE OFFICE SHALL MAINTAIN BOOKS  AND  RECORDS  PERTAINING  TO  ALL
 MONIES  RECEIVED  AND  DISBURSED PURSUANT TO THIS SECTION AND THE AGREE-
 MENT;
   (C) MONIES IN SUCH CAPITAL FUND SHALL BE UTILIZED FOR THE  PURPOSE  OF
 MAKING  GRANTS  TO QUALIFYING PARTICIPATING GRANTEES FOR PURPOSES DETER-
 MINED BY THE OFFICE;
   (D) PARTICIPATING GRANTEES SHALL BE CHOSEN BY THE  OFFICE  THROUGH  AN
 APPLICATION PROCESS APPROVED BY THE OFFICE AND THE COMPTROLLER;
   (E)  ELIGIBLE USES OF FUNDS SO GRANTED TO PARTICIPATING GRANTEES SHALL
 BE DETERMINED BY THE OFFICE;
   (F) THE OFFICE ADMINISTERING THE CAPITAL FUND SHALL  REPORT  QUARTERLY
 ON  THE  TRANSACTIONS IN THE CAPITAL FUND IN A FORM AND MANNER SPECIFIED
 BY THE COMPTROLLER IN CONSULTATION WITH THE COMMISSIONER OF TAXATION AND
 FINANCE, INCLUDING BUT NOT LIMITED TO: RECEIPTS OR DEPOSITS TO THE FUND;
 DISBURSEMENTS; LOANS OR CREDIT ENHANCEMENT MADE FROM THE  FUND;  INVEST-
 MENT INCOME; AND THE BALANCE ON HAND AS OF THE END OF THE MONTH FOR EACH
 SUCH QUARTER;
   (G)  THE  OFFICE  SHALL BE REQUIRED TO INVEST MONIES ON DEPOSIT IN THE
 FUND IN ACCORDANCE WITH INVESTMENT GUIDELINES MEETING  THE  REQUIREMENTS
 OF  THE  COMPTROLLER, AND ALL INVESTMENT INCOME SHALL BE CREDITED TO THE
 REVOLVING CAPITAL FUND, AND SPENT THEREFROM ONLY FOR  THE  PURPOSES  SET
 FORTH IN THIS SECTION;
   (H)  CAPITAL FUND MONIES SHALL BE HELD IN TRUST AND USED FOR THE BENE-
 FIT OF ELIGIBLE GRANTEES; AND
   (I) ANY OTHER TERM OR CONDITION AS DETERMINED BY THE  OFFICE  AND  THE
 COMPTROLLER,  IN  CONSULTATION  WITH  THE  COMMISSIONER  OF TAXATION AND
 FINANCE.
   4. GRANT DOCUMENTATION. GRANTS FROM THE CAPITAL  FUND  SHALL  BE  MADE
 PURSUANT TO A WRITTEN AGREEMENT BETWEEN THE OFFICE AND THE PARTICIPATING
 GRANTEE, SPECIFYING THE TERMS OF THE GRANT. THE GRANT AGREEMENT SHALL BE
 IN  SUCH  FORM AND CONTENT AS SHALL BE ACCEPTABLE TO THE COMPTROLLER AND
 THE OFFICE, AND MAY INCLUDE  SUCH  OTHER  WRITTEN  DOCUMENTATION  AND/OR
 AGREEMENTS  AS  SHALL BE REQUIRED IN THE JUDGMENT OF THE COMPTROLLER AND
 THE OFFICE. TERMS MAY INCLUDE RESCISSION OF GRANTS IF A GRANTEE DOES NOT
 USE GRANT FUNDS IN ACCORDANCE WITH THIS SECTION  OR  THE  TERMS  OF  THE
 GRANTEE'S AGREEMENT WITH THE OFFICE.
   § 2. The sum of one hundred million dollars ($100,000,000), or so much
 thereof  as  may  be  necessary, is hereby appropriated to the office of
 fire prevention and control out of any moneys in the state  treasury  in
 the  general  fund,  not  otherwise  appropriated,  and made immediately
 available, for the purpose of carrying out the provisions of  this  act.
 Such moneys shall be payable on the audit and warrant of the comptroller
 on vouchers certified or approved by the state fire administrator in the
 manner prescribed by law.
   § 3. This act shall take effect immediately.