§ 92-hh. Health care transformation fund. 1. There is hereby
established in the joint custody of the state comptroller and the
commissioner of taxation and finance a fund to be known as the "health
care transformation fund".

2. Such fund shall consist of moneys paid thereto from (a) contingent
reserves redeployed pursuant to section forty-four hundred sixteen of
the public health law, (b) moneys transferred to such fund pursuant to
law, and (c) contributions, consisting of grants of any money, including
grants or other financial assistance from any agency of government or
any other source, to be paid into this fund.

3. Moneys in the health care transformation fund shall be kept
separate and shall not be commingled with any other moneys in the
custody of the state comptroller and the commissioner of taxation and
finance.

4. Notwithstanding any provision of law to the contrary, moneys of the
health care transformation fund shall be available for transfer to any
other fund of the state as authorized and directed by the director of
the budget to support health care delivery, including for capital
investment, debt retirement or restructuring, housing and other social
determinants of health, or transitional operating support to health care
providers.

5. Within fifteen days after executing or modifying an allocation,
transfer, distribution or other use of the health care transformation
fund, the commissioner shall provide written notice to the chairs of the
senate finance committee, the assembly ways and means committee, the
senate and assembly insurance committees, and the senate and assembly
health committees. Such notice shall include, but shall not be limited
to, information on the amount, date, and purpose of the allocation,
transfer, distribution, or other use, and the methodology used to
distribute the moneys.

6. The director of the budget shall provide quarterly reports to the
chair of the senate finance committee and the chair of the assembly ways
and means committee on the receipts and distributions of the health care
transformation fund, including an itemization of such receipts and
disbursements, the historical and projected expenditures, and the
projected fund balance.