N.Y. STF Law § 66-K

§ 66-k. Certificates of participation; reallocation requirements. 1.\nThis section shall not apply to appropriations made to units of the\nstate university or the city university of New York.\n 2. In those cases where funds have been appropriated to a state\ndepartment or agency for the outright purchase of equipment, and when\nwith the approval of the director of the budget and the state\ncomptroller, a contract is entered into for the lease purchase or\ninstallment purchase of equipment and the lease purchase or installment\npurchase agreement is financed or will be financed by the issuance of\ncertificates of participation pursuant to this article, the director of\nthe budget shall notify the chairs of the senate finance committee and\nthe assembly ways and means committee of the director of the budget's\nand the state comptroller's approval of such contract.\n 3. If the outright purchase cost of the equipment is two million\ndollars or more, the balance of the appropriation for the outright\nequipment purchase not necessary to pay lease purchase or installment\npurchase payments in the then current fiscal year for the equipment\nshall be unallocated by the director of the budget and may be\nreallocated by the director of the budget only in accordance with the\nfollowing procedures, and subject to the following conditions and\nlimitations:\n (a) The chief executive officer of the department or agency to which\nthe appropriation is provided, shall request allocation of the balance\nor portion of the balance by providing a statement to the director of\nthe budget and the chairs of the senate finance committee and the\nassembly ways and means committee certifying to the following (i) the\namount of the requested allocation, (ii) the purpose of the allocation,\nand (iii) the necessary nature of the expenditures.\n (b) The director of the budget may allocate the monies requested only\nafter receiving notification of approval for the allocation from the\nchairs of the senate finance committee and the assembly ways and means\ncommittee.\n 4. If the outright purchase cost of the equipment is less than two\nmillion dollars, the balance of the appropriation for the outright\nequipment purchase not necessary to pay lease purchase or installment\npurchase payments in the then current fiscal year for the equipment may\nbe reallocated by the director of the budget with notification as soon\nas practicable after such reallocation to the chairs of the senate\nfinance committee and the assembly ways and means committee of the\npurpose of the expenditures for which the allocation is made.\n