Bill > A07951

This bill requires state agencies to spend funds approved by the budget director within 90 days of receiving a certificate of approval, and introduces a financial penalty for agencies that fail to do so. Specifically, if an agency does not expend the approved funds within 90 days, its budget for the following fiscal year will be reduced by 1% of the amount originally authorized in the certificate of approval. The state comptroller is tasked with developing procedures to calculate and report these budget reductions to key government officials, including the governor and legislative finance committees. The bill aims to improve the efficiency and timeliness of state agency spending by creating a direct financial incentive for agencies to promptly utilize approved funds. The legislation will take effect immediately and apply to all contracts awarded from that point forward, potentially encouraging more immediate and strategic use of state financial resources.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A7951