N.Y. State Finance Law 99-L*2 – Love your library fund
* § 99-l. Love your library fund. 1. There is hereby established in the joint custody of the state comptroller and the commissioner of taxation and finance a special fund to be known as the "love your library fund."
Terms Used In N.Y. State Finance Law 99-L*2
- 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
- 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. Such fund shall consist of all revenues received by the department of motor vehicles pursuant to § 404-v of the vehicle and traffic law, as added by chapter three hundred three of the laws of two thousand four, all the revenues received by the department of taxation and finance pursuant to sections two hundred nine-K and six hundred thirty-e of the tax law and all other moneys appropriated, credited, or transferred thereto from any other fund or source pursuant to law.
2-a. On or before the first day of February each year, the commissioner of the department of education shall provide a written report to the temporary president of the senate, speaker of the assembly, chair of the senate finance committee, chair of the assembly ways and means committee, the state comptroller and the public. Such report shall include how the monies of the fund were utilized during the preceding calendar year, and shall include:
(i) the amount of money disbursed from the fund and the award process used for such disbursements;
(ii) recipients of awards from the fund;
(iii) the amount awarded to each;
(iv) the purposes for which such awards were granted; and
(v) a summary financial plan for such monies which shall include estimates of all receipts and all disbursements for the current and succeeding fiscal years, along with the actual results from the prior fiscal year.
3. Moneys of the fund, following appropriation by the legislature shall be expended only for the purposes of providing funding for the statewide summer reading program set forth in subdivision ten of § 273 of the education law. Moneys shall be paid out of the fund on the audit and warrant of the state comptroller on vouchers approved and certified by the commissioner of education. Any interest received by the comptroller on moneys on deposit in the love your library fund shall be retained in and become part of such fund.
* NB There are 2 § 99-l's