Bill > S05730

This bill establishes a new "water resiliency projects fund" within New York state's financial system, designed to support critical water-related infrastructure improvements. The fund will be jointly managed by the state comptroller and the commissioner of taxation and finance, with an initial appropriation of $500 million transferred from the New York climate action fund. The fund can receive additional moneys through appropriations, grants, gifts, or bequests, and is specifically designated to finance projects involving flood mitigation, stormwater mitigation, and other water-related resilience initiatives. Funds will be disbursed through vouchers approved by the commissioner of environmental conservation and audited by the state comptroller. The bill aims to provide dedicated financial resources to help communities better prepare for and manage water-related environmental challenges, with a focus on infrastructure adaptation and risk reduction. The new fund will become operational 180 days after the bill becomes law, giving state agencies time to establish the necessary administrative procedures for managing and distributing the funds.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S5730