§ 97-CCCC*3 — Tobacco revenue guarantee fund

* § 97-cccc. Tobacco revenue guarantee fund. 1. There is hereby\nestablished in the joint custody of the state comptroller and the\ncommissioner of taxation and finance a fund to be known as the tobacco\nrevenue guarantee fund.\n 2. Notwithstanding any inconsistent provision of law, rule or\nregulation to the contrary, the director of the division of the budget\nshall provide to chairpersons of the senate finance and assembly ways\nand means committees, as part of the annual executive budget\nsubmissions, a health care reform act financial plan which shall\ninclude, but not be limited to, quarterly estimates of health care\nreform act receipts and disbursements. Such plan shall be updated on a\nquarterly basis, within thirty days of the quarter to which it shall\npertain, based on the actual experience of receipts, disbursements and\ntransfers, in a form suitable for comparison to the annual financial\nplan. Such plan and quarterly updates shall be delivered to the\ntemporary president of the senate, the speaker of the assembly and the\ncomptroller annually with the submission of the summary financial plan\nas required by section twenty-two of this chapter, and within thirty\ndays after the end of each quarter, respectively.\n 3. During each such quarter, the commissioner of health shall assess\nthe receipts deposited to the credit of the health care reform act\npursuant to a chapter of the laws of two thousand three. At the same\ntime, the director of the division of the budget shall determine the\namount of the payment that would have been due to the state for the\nstate's share of the tobacco master settlement agreement as of April\nthirtieth of each such state fiscal year. The director of the division\nof the budget in consultation with the commissioner of health shall then\ndetermine: (a) whether the actual receipts to be received prior to the\nend of each quarter are less than the greater of the planned receipts or\nestimated disbursements; (b) if such determination results in an\nunderpayment or deficiency, the director of the division of the budget\nshall immediately issue a declaration to the comptroller and the\ncommissioner of health identifying the amount of such underpayment or\ndeficiency; (c) notwithstanding any provision of law, upon receipt of\nsuch declaration of underpayment or deficiency, the comptroller shall\ntransfer from amounts available in the general fund including, but not\nlimited to amounts collected pursuant to article twenty-two of the tax\nlaw, to the tobacco revenue guarantee fund the amount identified as the\nunderpayment or deficiency pursuant to paragraph (b) of this\nsubdivision. Provided, however, that the total amount so transferred to\nthe tobacco revenue guarantee fund during any such state fiscal year\nshall not exceed the amount of the payment that would have been due to\nthe state for the state's share of the tobacco master settlement\nagreement as of April thirtieth of each such state fiscal year.\n 4. At the request of the commissioner of health, the comptroller shall\ntransfer any and all funds in the tobacco revenue guarantee fund to the\ntobacco control and insurance initiatives pool established pursuant to\nsection twenty-eight hundred seven-v of the public health law. No later\nthan the thirty-first day of March, two thousand five, and again on the\nthirty-first day of March, two thousand six, the commissioner of health\nshall issue a report to the chairpersons of the assembly ways and means\ncommittee and the senate finance committee setting forth the\ncalculations performed and the transfers made pursuant to this section.\n 5. Notwithstanding any other provision of this section or any other\ncontrary provision of law, for the period April first, two thousand\nseven through March thirty-first, two thousand eleven, the provisions of\nsubdivision three of this section shall be suspended and have no force\nand effect.\n * NB There are 4 § 97-cccc's\n