Bill > S00476

This bill enacts the "Over-Expenditure, Under-Expenditure, Transfer Notification (OUT) Act," which establishes new rules for how state agencies handle surplus and over-budget funds. Under the legislation, any state agency with surplus appropriated funds (money left unspent at the end of a fiscal year) must notify the governor, comptroller, and legislature by April 15th about the amount of surplus. The legislature and governor then have until May 31st to pass legislation specifying how those surplus funds can be used or transferred to another agency, with the state comptroller's approval required. If no legislation is passed, or if the comptroller doesn't approve the fund use by June 30th, the surplus funds will automatically be transferred to the general fund to reduce state debt. Additionally, the bill requires state agencies to notify the same officials if they plan to spend more money than they were originally appropriated, providing a detailed explanation for the over-expenditure. The legislature and governor can then potentially pass legislation to approve additional funding, again subject to the comptroller's approval. The goal of the legislation appears to be increasing transparency and oversight of state agency spending and ensuring efficient use of taxpayer funds.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S476