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New York · Through 2026-09-11

N.Y. State Finance Law § 67-a: Definitions

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Where this section sits in the code
  1. State Finance Law
  2. Article 5-B. Limitations On State-supported Debt

§ 67-a. Definitions. When used in this article the following terms

shall have the meanings set forth below:

1. "State-supported debt" shall mean any bonds or notes, including

bonds or notes issued to fund reserve funds and costs of issuance,

issued by the state or a state public corporation for which the state is

constitutionally obligated to pay debt service or is contractually

obligated to pay debt service subject to an appropriation, except where

the state has a contingent contractual obligation.

2. "Total personal income of the state" shall mean the most recently

published estimate of the immediately preceding calendar year annual

total personal income of the state of New York as published by the

United States department of commerce or any successor agency from which

information is available most proximate and prior to October

thirty-first, two thousand one and to October thirty-first of each year

thereafter. Subsequent revisions of the published estimated dollar

amount for any calendar year estimate employed pursuant to the terms of

this subdivision shall not affect the validity of the determination made

for any fiscal year.

3. "Total governmental funds receipts" shall mean the total amount of

receipts of all governmental funds of the state including general fund,

special revenue funds, capital funds and debt service funds as finally

reported by the state comptroller on a cash basis of accounting for the

state fiscal year, but shall exclude cash transfers between funds and

include any cash management or other related transactions whereby

receipts in a state fiscal year were reduced and maintained for

subsequent use.

4. "Capital work or purpose" shall mean any project involving:

(i) the acquisition, construction, demolition, or replacement of a

fixed asset or assets;

(ii) the major repair or renovation of a fixed asset, or assets which

materially extends its useful life or materially improves or increases

its capacity; or

(iii) the planning or design of the acquisition, construction,

demolition, replacement, major repair or renovation of a fixed asset or

assets, including the preparation and review of plans and specifications

including engineering and other services, field surveys and sub-surface

investigations incidental thereto.

Collected 2026-09-14T19:32:45Z. Source file · JSON

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