Bill > A02231

This bill introduces several changes related to state debt transparency and fiscal management. It requires that any ballot proposition creating state debt must include an estimate of the amortization period (the time it will take to pay off the debt) and the total expected debt service (total amount to be paid, including interest) in large, readable type. The bill mandates that the state board of elections publish this information in the week before an election, and that any state publications about such propositions also include these debt details. Additionally, the bill modifies the tax stabilization reserve fund rules, changing the maximum fund limit from 2% to 5% of the fiscal year norm, and introduces a new requirement that at least 10% of any cash surplus in the general fund at the end of a fiscal year must be transferred to a debt reduction reserve fund. The goal is to increase transparency about state debt for voters and to create a more structured approach to paying down state obligations.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A2231