N.Y. STF Law § 72

§ 72. General fund. 1. Notwithstanding any provision of law to the\ncontrary, the general fund of this state shall be defined and maintained\nin accordance with the provisions of this section and shall account for\nall financial resources of the state except those required to be\naccounted for in other funds as defined in this chapter.\n 2. (a) There shall be within the general fund a separate account which\nshall be designated and known as the local assistance account and shall\nreflect all expenditures made for local assistance.\n (b) There shall be within the general fund a separate account which\nshall be designated and known as the state purposes account and shall\nreflect all expenditures made for state purposes.\n 3. Notwithstanding any inconsistent provision of subdivision five of\nsection four of this chapter, any moneys in the general fund not\nrequired for cash disbursements pursuant to general fund appropriations\nmay, in amounts determined and certified by the director of the budget,\nbe transferred to the capital projects fund or any debt service fund for\nthe purpose of making payments from such fund pursuant to appropriations\nby law, provided that, any balance of moneys so transferred, remaining\nin such fund at the close of each month shall be returned to the general\nfund. No such transfer shall be made until a certificate of approval of\navailability for so much as shall be necessary to make disbursements\npursuant to appropriations by law from such capital projects or debt\nservice fund for the balance of the month shall have been issued by the\nbudget director and a copy of such certificate of approval filed with\nthe state comptroller, the chairman of the senate finance committee and\nthe chairman of the assembly ways and means committee.\n 4. (a) Any balance of moneys in any debt service fund in excess of\nboth the debt principal and interest payments required to be made from\nsuch fund during the current fiscal year, or during future fiscal years,\nand any reserve requirement established by statute or by a relevant bond\ncovenant, shall be transferred to the general fund.\n * (b) On or before the beginning of each quarter, the director of the\nbudget may certify to the state comptroller the estimated amount of\nmonies that shall be reserved in the general debt service fund for the\npayment of debt service and related expenses payable by such fund during\neach month of the state fiscal year, excluding payments due from the\nrevenue bond tax fund. Such certificate may be periodically updated, as\nnecessary. Notwithstanding any provision of law to the contrary, the\nstate comptroller shall reserve in the general debt service fund the\namount of monies identified on such certificate as necessary for the\npayment of debt service and related expenses during the current or next\nsucceeding quarter of the state fiscal year. Such monies reserved shall\nnot be available for any other purpose. Such certificate shall be\nreported to the chairpersons of the Senate Finance Committee and the\nAssembly Ways and Means Committee. The provisions of this paragraph\nshall expire June thirtieth, two thousand twenty-six.\n * NB Expires June 30, 2026\n