Bill > S01876

This bill proposes a constitutional amendment that would limit the state's annual budget to no more than 15 percent of the state's gross domestic product (GDP) for the previous calendar year, as determined by the state comptroller. Currently, the state constitution requires the governor to submit an annual budget with proposed expenditures and estimated revenues, but does not impose a specific spending cap. Under this proposed change, the governor would still be required to submit a budget each year, but the total proposed expenditures would be restricted to 15% of the state's GDP from the prior year. The purpose of this amendment appears to be to create a fiscal constraint that ties state spending directly to the overall economic output of the state, potentially as a mechanism to control government spending and ensure budgetary discipline. The proposed amendment would need to be referred to the next regular legislative session after the next general election and would require publication for three months prior to that election, following the standard constitutional amendment process in the state.

Justice

https://www.nysenate.gov/legislation/bills/2025/S1876