Bill > S01884

This bill amends the state finance law to require state agencies to spend approved funds within 90 days of receiving a certificate of approval from the budget director. If an agency fails to expend the funds within this 90-day window, its budget for the upcoming fiscal year will be automatically reduced by 1% of the amount originally authorized in the certificate of approval. The state comptroller is tasked with developing and implementing a procedure to calculate and report these budget reductions to the governor, senate finance committee, and assembly ways and means committee. The bill aims to improve the efficiency and timeliness of state agency spending by introducing a financial penalty for delays. The legislation will take effect immediately and apply to all contracts awarded from that point forward, potentially encouraging more prompt fund allocation and expenditure by state agencies.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S1884