A 7951: Requires state agencies to expend funds no later than ninety days after receipt of a certificate of approval from the director of the budget; reduces the budget of an agency that violates such requirement for the upcoming fiscal year by 1% of the amount of the late award.

  
  STATE OF NEW YORK ________________________________________________________________________ 7951 2025-2026 Regular Sessions  IN ASSEMBLY April 16, 2025 ___________ Introduced by M. of A. BEEPHAN -- read once and referred to the Commit- tee on Governmental Operations AN ACT to amend the state finance law, in relation to requiring state agencies to expend funds no later than ninety days after receipt of a certificate of approval from the director of the budget The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 179-ee of the state finance law is amended by 2 adding a new subdivision 4 to read as follows: 3 4. A state agency shall expend funds to the organization approved to 4 receive such funds no later than ninety days after such agency's receipt 5 of the certificate of approval authorizing the expenditure of such 6 funds. If an agency expends funds later than ninety days after receipt 7 of a certificate of approval in violation of this subdivision, such 8 agency's budget appropriated for the following fiscal year shall be 9 reduced by one percent of the amount authorized under such certificate 10 of approval. 11 § 2. Subdivision 1 of section 179-y of the state finance law, as 12 amended by chapter 292 of the laws of 2007, is amended to read as 13 follows: 14 1. The state comptroller shall: (a) promulgate such rules and regu- 15 lations as may be necessary to carry out the comptroller's responsibil- 16 ities under this article including provisions for repayment; [and] (b) 17 develop and implement a procedure for calculating the amount of inter- 18 est, if any, due to any not-for-profit organization pursuant to the 19 provisions of this article; and (c) develop and implement a procedure 20 for calculating and reporting to the governor, the senate finance 21 committee, and the assembly ways and means committee, the amount of 22 reduction that shall be applied to a state agency's budget in the upcom- 23 ing fiscal year due to a failure to timely expend funds pursuant to 24 subdivision four of section one hundred seventy-nine-ee of this article. 25 § 3. This act shall take effect immediately and shall apply to all 26 contracts awarded on and after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05487-01-5