N.Y. Public Authorities Law 2566 – Appropriations
§ 2566. Appropriations. 1. To assure the continued operation and solvency of the corporation for the carrying out of the public purposes of this act, there may be, notwithstanding any provision of law to the contrary, annually apportioned and paid to the corporation such sum, if any, as shall be appropriated in the first instance by the state as necessary to enable the corporation to meet all items of expense, including proper maintenance of the convention center, that are approved by the director of the budget to be incurred by the corporation in the next succeeding state fiscal year. The chairman of the corporation shall annually, on or before September fifteenth, make and deliver to the governor and the director of the budget for their approval and for submission to the legislature a budget request for the operations of the corporation. The request shall delineate the total amount needed for corporate purposes, the source and amount of other funds that the corporation expects to receive, and such other information as the director of the budget shall require. The sum or sums appropriated in the first instance, or so much thereof as shall be necessary, shall be apportioned and paid to the corporation during the course of the fiscal year as needed.
Terms Used In N.Y. Public Authorities Law 2566
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Chairman: means the chairman of the dormitory authority. See N.Y. Public Authorities Law 1695
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
2. Notwithstanding the provisions of any general or special law, no part of such appropriation shall be available for the purposes designated until a certificate of approval of availability shall have been issued by the director of the budget and a copy of such certificate filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee. Such certificate may be amended from time to time, subject to the approval of the director of the budget, and a copy of each such amendment shall be filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee.
3. The director of the budget shall not issue any certificate of approval of availability until the corporation has entered into a written agreement with the director of the budget providing for repayment by such corporation to the state of an amount equal to the total amount expended by the state from such appropriation, on terms to be determined by the director of the budget, and a copy of such agreement shall be filed with the state comptroller, the chairman of the senate finance committee and the chairman of the assembly ways and means committee. Notwithstanding the provisions of § 40-a of the state finance law and any other general or special law, such written agreement shall require repayment only to the extent that moneys are available from the convention center operating corporation fund established in accordance with section twenty-five hundred sixty-nine of this title.