§ 23. Plans and estimates. 1. Capital projects design and construction
plans; preparation, approval and implementation. It shall be the duty of
the division of the budget to coordinate the activities of the several
departments and agencies of the state with respect to the planning and
implementation of state capital projects proposed to be undertaken by
the departments and agencies, and in the discharge of the duty the
director of the budget shall, with the approval of the governor,
establish appropriate procedures with respect to the planning and
implementation. The head of any department or agency of the state
proposing to undertake the design or construction of a capital project
shall apply to the division of the budget and request approval for any
such work to be undertaken. The director of the budget may approve or
disapprove any such application, and if approved, may authorize the
preparation of plans for the project or the advertising for bids for the
construction of the project and may allocate funds therefor from any
moneys appropriated and available for the purpose.

2. Capital projects; initial submissions. So far as may be possible,
the governor shall cause to be submitted to the chairman of the senate
finance committee and the chairman of the assembly ways and means
committee for the use of the committees and the information of the
legislature, at or prior to the time that the budget is submitted,
preliminary plans and estimates relating to each of the capital projects
for which appropriations are recommended in the budget, and in the case
of proposed acquisitions of land, a general approximation of the
location of the land.

3. Financial plans and capital improvement program; revisions. Not
later than thirty days after the legislature has completed action on the
budget bills submitted by the governor and the period for the governor's
review has elapsed, the governor shall cause to be submitted to the
legislature the revisions to the financial plans and the capital plan
required by subdivisions one, two, four and five of section twenty-two
of this article as are necessary to account for all enactments affecting
the financial plans and the capital plan. The financial plan shall also
contain a cash flow analysis of projected receipts and disbursements and
other financing sources or uses for each month of the state's fiscal
year. Notwithstanding any other law to the contrary, such revised plans
and accompanying cash flow analysis shall be submitted to the
legislature and the comptroller in the same form as the plans required
by such subdivisions.

4. Financial plan updates. Quarterly, throughout the fiscal year, the
governor shall submit to the comptroller, the chairs of the senate
finance and the assembly ways and means committees, within thirty days
of the close of the quarter to which it shall pertain, a report which
summarizes the actual experience to date and projections for the
remaining quarters of the current fiscal year and for each of the next
two fiscal years of receipts, disbursements, tax refunds, and repayments
of advances presented in forms suitable for comparison with the
financial plan submitted pursuant to subdivisions one, four, and five,
of section twenty-two of this article and revised in accordance with the
provisions of subdivision three of this section. The governor shall
submit with the budget a similar report that summarizes revenue and
expenditure experience to date in a form suitable for comparison with
the financial plan submitted pursuant to subdivision two of section
twenty-two of this article and revised in accordance with the provisions
of subdivision three of this section. Such reports shall provide an
explanation of the causes of any major deviations from the revised
financial plans and, shall provide for the amendment of the plan or
plans to reflect those deviations. The governor may, if he determines it
advisable, provide more frequent reports to the legislature regarding
actual experience as compared to the financial plans. The quarterly
financial plan update most proximate to October thirty-first of each
year shall include the calculation of the limitations on the issuance of
state-supported debt computed pursuant to the provisions of subdivisions
one and two of section sixty-seven-b of this chapter.

5. Financial information review. Annually on or before November
fifteenth, the governor, temporary president of the senate, the speaker
of the assembly and the comptroller shall cause their respective
appropriate personnel to meet and such meeting shall be open to the
public for the purpose of jointly reviewing available financial
information to facilitate timely adoption of a budget for the next
fiscal year. Such review shall include meetings to discuss the economic
outlook, revenue forecasts, projected spending, the impact of relevant
state and federal statutory provisions, and any other matters deemed
appropriate. Not later than November fifth, such respective appropriate
personnel shall separately prepare and make available reports on
estimated state receipts and state disbursements for the current and
ensuing fiscal years. Each report on estimated state receipts shall
include, but shall not be limited to, estimated tax receipts on an
all-funds basis, estimated lottery receipts, estimated miscellaneous
receipts to be received in the general fund, and the underlying factors
and data upon which such estimated receipts are based. Each report on
estimated state disbursements shall include, but shall not be limited
to, estimates of state disbursements for Medicaid and the underlying
factors and data on which such estimates are based, estimates of state
disbursements for public assistance and the underlying caseload and
other factors and data on which such estimates are based, and estimates
of state disbursements for assistance for elementary and secondary
education and the underlying factors and data on which such estimates
are based. The governor, temporary president of the senate and the
speaker of the assembly shall cause their respective appropriate
personnel to meet annually on or after November fifth to review the
separate reports on estimated state receipts and state disbursements.
The respective appropriate personnel shall identify and evaluate the
differences between the estimates of state receipts and state
disbursements, and the differences between the underlying factors and
data on which such estimates are based, and separately report such
differences and the evaluation thereof to their principals. Not later
than November fifteenth the governor, the temporary president of the
senate and the speaker of the assembly shall jointly prepare and make
available on their internet websites a report on the actual, estimated
and projected state receipts and state disbursements for the prior,
current and ensuing fiscal years, respectively, for all funds of the
state. Subsequent review shall be held within six weeks following the
end of the first quarter of the fiscal year.

6. Consensus economic and revenue forecasting conference; report. (a)
By the end of February in each year, prior to the report required by
paragraph (b) of this subdivision, the chairperson and ranking minority
member of the senate finance committee, the chairperson and ranking
minority member of the assembly ways and means committee and the
director of the budget shall jointly convene a consensus economic and
revenue forecasting conference in the form of a joint
legislative-executive hearing, for the purpose of assisting the governor
and the legislature in reaching the consensus revenue forecast required
by paragraph (b) of this subdivision. The conveners of the conference
shall invite the state comptroller and such other participants to the
conference as shall, in their judgment, provide guidance on the current
conditions in, and probable outlook for the performance of, the economy
of the state, as well as the effect of such conditions and such
performance on state receipts.

(b) On or before March first in each year, the director of the budget
and the secretary of the senate finance committee and the secretary of
the assembly ways and means committee shall issue a joint report
containing a consensus forecast of the economy and estimates of receipts
for the current and the ensuing state fiscal year. Such estimates of
receipts shall include, but not be limited to: expected tax receipts on
an all-funds basis, projected lottery receipts, and anticipated
miscellaneous receipts to be received in the general fund. The estimate
of receipts for the ensuing fiscal year contained in the report, shall
be all receipts from such sources described in this subdivision
available to make disbursements authorized by the appropriation bills
submitted by the governor pursuant to section three of article seven of
the constitution for the ensuing fiscal year.

(c) On a failure of the director of the budget, the secretary of the
senate finance committee and the secretary of the assembly ways and
means committee to issue a joint report containing a consensus forecast
as provided in paragraph (b) of this subdivision, the state comptroller
shall, on or before March fifth, provide estimates of receipts for the
current and the ensuing state fiscal year. Such estimates shall include,
but not be limited to, expected tax receipts on an all-funds basis,
projected lottery receipts, and miscellaneous receipts to be received in
the general fund. In rendering his or her estimate, as required in this
paragraph, the comptroller shall give due consideration to the inherent
risks in economic and revenue forecasting and the interest of the state
to maintain budget balance throughout the fiscal year. The estimate of
receipts for the ensuing fiscal year provided by the state comptroller,
shall be all receipts from such sources available to make disbursements
authorized by the appropriation bills submitted by the governor pursuant
to section three of article seven of the constitution for the ensuing
fiscal year.