N.Y. Workers’ Compensation Law 87-F – Appropriations to the state insurance fund
§ 87-f. Appropriations to the state insurance fund. 1. Notwithstanding any other provision of law, the state insurance fund, hereinafter referred to as the fund, and all state officers with responsibility for the custody or investment of such fund or of its assets, shall annually, no later than November first in each year, submit to the director of the budget the fund's request for an appropriation of one billion sixty-five million dollars. The governor shall include such amount in a budget bill for the next state fiscal year. The state comptroller shall encumber the amount so appropriated before the end of the fiscal year for which any such appropriation is made. If for any fiscal year commencing on or after April first, nineteen hundred eighty-three, the governor fails to submit a budget bill containing an appropriation in the amount requested by the fund or the legislature fails to appropriate the amount in a budget bill submitted by the governor for such fiscal year, the amount appropriated for and encumbered during the preceding fiscal year shall be payable forthwith to the fund on the first day of July of such year in the manner prescribed by law, provided, however, that such amount shall not exceed the amount of moneys transferred to the general fund, the note repayment account or the capital projects fund by the fund pursuant to the provisions of chapter fifty-five of the laws of nineteen hundred eighty-two, chapter twenty-eight of the laws of nineteen hundred eighty-six, chapter forty-seven of the laws of nineteen hundred eighty-seven and chapter seven of the laws of nineteen hundred eighty-nine.
Terms Used In N.Y. Workers' Compensation Law 87-F
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- compensation: include the benefits in relation to volunteer firefighters or volunteer ambulance workers pursuant to the volunteer firefighters' benefit law or the volunteer ambulance workers' benefit law. See N.Y. Workers' Compensation Law 100
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- fund: shall be deemed to include both the workers' compensation fund and the disability benefits fund unless the context otherwise indicates. See N.Y. Workers' Compensation Law 76
2. Notwithstanding any other provision of law, the fund and all state officers with responsibility for the custody or investment of such fund or of its assets shall annually, no later than November first in each year, submit to the director of the budget the fund's additional request for an appropriation of two hundred thirty million dollars and the governor shall include such additional amount in a budget bill for the next state fiscal year. The state comptroller shall encumber the amount so appropriated before the end of the fiscal year for which any such appropriation is made. If for any fiscal year commencing on or after April first, nineteen hundred ninety the governor fails to submit a budget bill containing an appropriation in the amount requested by the fund or the legislature fails to appropriate the amount in a budget bill submitted by the governor for such fiscal year, the amount appropriated for and encumbered during the preceding fiscal year shall be payable forthwith to the fund on the first day of July of such year in the manner prescribed by law, provided, however, that such amount shall not exceed the amount of moneys transferred to the general fund or the note repayment account by the fund pursuant to the provisions of a chapter of the laws of nineteen hundred ninety entitled "AN ACT to authorize and direct the transfer of hazardous waste remedial fund industry fee transfer account balances and receipts to the general fund; to amend the state finance law, in relation to industry fee surcharges and the calculations relating thereto, to authorize the transfer of state insurance fund balances to the general fund; to amend the workers' compensation law, in relation to the provision of appropriations by the state for the maintenance of reserves of the state insurance fund; and making appropriations relating thereto".
3. It is hereby found and declared that any appropriations made as provided for in subdivision one or two of this section shall be deemed admitted assets of the state insurance fund, and that any transfer of moneys by the fund to the general fund, the note repayment account or the capital projects fund in accordance with the provisions of chapter fifty-five of the laws of nineteen hundred eighty-two, chapter twenty-eight of the laws of nineteen hundred eighty-six, chapter forty-seven of the laws of nineteen hundred eighty-seven, chapter seven of the laws of nineteen hundred eighty-nine or a chapter of the laws of nineteen hundred ninety entitled "AN ACT to authorize and direct the transfer of hazardous waste remedial fund industry fee transfer account balances and receipts to the general fund; to amend the state finance law, in relation to industry fee surcharges and the calculations relating thereto, to authorize the transfer of state insurance fund balances to the general fund; to amend the workers' compensation law, in relation to the provision of appropriations by the state for the maintenance of reserves of the state insurance fund; and making appropriations relating thereto" is deemed a proper and prudent legal undertaking for any state officer with the responsibility for the custody or the investment of the assets of the fund, notwithstanding any other provision of law to the contrary.