STATE OF NEW YORK ________________________________________________________________________ 1833 2017-2018 Regular Sessions IN ASSEMBLY January 13, 2017 ___________ Introduced by M. of A. McLAUGHLIN -- read once and referred to the Committee on Ways and Means AN ACT to amend the state finance law, in relation to capping state spending The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The state finance law is amended by adding a new section 28 2 to read as follows: 3 § 28. Establishment of annual spending cap. 1. Notwithstanding any 4 other provision of law to the contrary, there is hereby established a 5 state operating funds state spending cap. Commencing the first state 6 fiscal year after this section shall have become a law state operating 7 funds spending shall be capped at the rate of inflation, as averaged 8 over the prior three years. 9 2. The governor shall not submit, and the legislature shall not act 10 upon, a budget that contains any increase not in accordance with the 11 provisions of subdivision one of this section. 12 3. The governor shall certify in writing that state operating funds 13 spending in the executive budget does not exceed the provisions of 14 subdivision one of this section. 15 4. The comptroller shall provide, within five days of action by the 16 legislature upon the budget, a determination as to whether the state 17 operating funds spending as set forth in the state budget as enacted 18 exceeds the spending cap. 19 5. If the comptroller finds that state operating funds spending as set 20 forth in the state budget as enacted exceeds the spending cap, the 21 legislature shall take corrective action to ensure that funding is 22 limited to the amount of the spending cap. 23 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04294-01-7