Bill Text: NY S05639 | 2017-2018 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Provides that a retirement system or plan of the state shall have fifteen days upon request to provide a fiscal note required for a retirement bill.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S05639 Detail]

Download: New_York-2017-S05639-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5639
                               2017-2018 Regular Sessions
                    IN SENATE
                                     April 24, 2017
                                       ___________
        Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment Operations
        AN ACT to amend the legislative law, in  relation  to  fiscal  notes  on
          retirement bills
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 50 of the legislative law, as added by chapter  503
     2  of the laws of 1971, is amended to read as follows:
     3    § 50. Fiscal  note  in  retirement  bills.  1.  A bill which enacts or
     4  amends any provision of law relating to a retirement system or  plan  of
     5  the  state  of  New  York  or of any of its political subdivisions shall
     6  contain a fiscal note stating the estimated annual cost to the  employer
     7  affected and the source of such estimate.
     8    2.  Notwithstanding any provision of law to the contrary, a retirement
     9  system or plan of the state of New York  or  of  any  of  its  political
    10  subdivisions  that receives a request for a fiscal note that is required
    11  to be contained in a bill pursuant to this section shall have ten  busi-
    12  ness days to provide the fiscal note to the requester.
    13    3. Any retirement system or plan of the state of New York or of any of
    14  its  political  subdivisions  that fails to timely provide a fiscal note
    15  requested pursuant to subdivision two of this section shall be  required
    16  to reimburse the cost of obtaining a fiscal note from an outside source.
    17    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11127-01-7