§ 99-E — State university stabilization account

New York § 99-E

• Jurisdiction: New York
• Law STF: State Finance
• Art. 6: Funds of the State

Text

§ 99-e. State university stabilization account. 1. There is hereby\nestablished in the joint custody of the state comptroller and the\ncommissioner of taxation and finance an account in the miscellaneous\nspecial revenue fund to be known as the state university stabilization\naccount.\n 2. Such account shall consist (a) of any and all unexpended and\nunencumbered moneys received by the state university of New York from\ntuition, fees, user charges, or other sources and deposited into the\nincome offset account, and (b) any other undisbursed balance of the\ngeneral fund appropriation as of the last day of the state university\nfiscal year as reduced pursuant to subparagraph six of paragraph c of\nsubdivision four of section three hundred fifty-five of the education\nlaw to reflect any aggregate amount established by the director of the\nbudget less than the amount appropriated. Such moneys shall be\ntransferred by the state comptroller into the stabilization account on\nor before September fifteenth within thirty days of such date. In\naddition, all or a portion of the account balances in other state\nuniversity income accounts, except the dormitory income reimbursable\naccount, shall be transferred by the state comptroller, at the request\nof the state university, to the stabilization account.\n 3. Moneys of the account shall only be available to the state\nuniversity of New York and following appropriation by the legislature,\nshall be credited to the state operated institutions, statutory or\ncontract colleges, hospitals and/or system administration stabilization\nsubaccounts from which the savings were achieved. Notwithstanding\nsection forty of this chapter, section three hundred fifty-five of the\neducation law or any other law to the contrary, all appropriations made\nfrom this account to the state university of New York shall remain in\nfull force and effect for two years from July first of the effective\nyear of the chapter in which the appropriations were made. Moneys shall\nbe paid out of the account on the audit and warrant of the state\ncomptroller on vouchers certified or approved by the chancellor of the\nstate university of New York or his or her designee.\n