N.Y. State Finance Law 53-D – Estimates of fiscal impact
§ 53-d. Estimates of fiscal impact. If an appropriation bill passed by the legislature contains items that the legislature has added in accord with § 4 of the constitution, then such bill must be accompanied by an estimate of the fiscal impact of such legislation on the budget submitted by the governor pursuant to section two of Article 7 of the constitution which shall include, if appropriate, an estimate of moneys and revenues, either in law or in legislation passed by both houses with the budget, sufficient to meet such additions. Such bill shall also include such other recommendations and information as the legislature may deem proper and such additional information as may be required by law. None of the restrictions of this section, however, shall apply to appropriations for the legislature or judiciary.
Terms Used In N.Y. State Finance Law 53-D
- 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