S 1876: Relates to capping the state budget at fifteen percent of total state gross domestic product for the prior calendar year, as determined by the state comptroller.

  
  STATE OF NEW YORK ________________________________________________________________________ 1876 2025-2026 Regular Sessions  IN SENATE January 14, 2025 ___________ Introduced by Sen. WALCZYK -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing an amendment to section 2 of article 7 of the constitution, in relation to capping the state budget at fifteen percent of total state gross domestic product 1 Section 1. Resolved (if the Assembly concurs), That section 2 of arti- 2 cle 7 of the constitution be amended to read as follows: 3 § 2. Annually, on or before the first day of February in each year 4 following the year fixed by the constitution for the election of gover- 5 nor and lieutenant governor, and on or before the second Tuesday follow- 6 ing the first day of the annual meeting of the legislature, in all other 7 years, the governor shall submit to the legislature a budget containing 8 a complete plan of expenditures proposed to be made before the close of 9 the ensuing fiscal year and all moneys and revenues estimated to be 10 available therefor, together with an explanation of the basis of such 11 estimates and recommendations as to proposed legislation, if any, which 12 the governor may deem necessary to provide moneys and revenues suffi- 13 cient to meet such proposed expenditures. It shall also contain such 14 other recommendations and information as the governor may deem proper 15 and such additional information as may be required by law. The total of 16 such proposed expenditures contained in such budget shall not exceed 17 fifteen percent of the state's gross domestic product for the prior 18 calendar year, as determined by the state comptroller. 19 § 2. Resolved (if the Assembly concurs), That the foregoing be 20 referred to the first regular legislative session convening after the 21 next succeeding general election of members of the assembly, and, in 22 conformity with section 1 of article 19 of the constitution, be 23 published for 3 months previous to the time of such election. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD89064-01-5