N.Y. State Finance Law § 92-hh: Health care transformation fund

§ 92-hh. Health care transformation fund. 1. There is hereby

established in the joint custody of the state comptroller and the

commissioner of taxation and finance a fund to be known as the "health

care transformation fund".

2. Such fund shall consist of moneys paid thereto from (a) contingent

reserves redeployed pursuant to section forty-four hundred sixteen of

the public health law, (b) moneys transferred to such fund pursuant to

law, and (c) contributions, consisting of grants of any money, including

grants or other financial assistance from any agency of government or

any other source, to be paid into this fund.

3. Moneys in the health care transformation fund shall be kept

separate and shall not be commingled with any other moneys in the

custody of the state comptroller and the commissioner of taxation and

finance.

4. Notwithstanding any provision of law to the contrary, moneys of the

health care transformation fund shall be available for transfer to any

other fund of the state as authorized and directed by the director of

the budget to support health care delivery, including for capital

investment, debt retirement or restructuring, housing and other social

determinants of health, or transitional operating support to health care

providers.

5. Within fifteen days after executing or modifying an allocation,

transfer, distribution or other use of the health care transformation

fund, the commissioner shall provide written notice to the chairs of the

senate finance committee, the assembly ways and means committee, the

senate and assembly insurance committees, and the senate and assembly

health committees. Such notice shall include, but shall not be limited

to, information on the amount, date, and purpose of the allocation,

transfer, distribution, or other use, and the methodology used to

distribute the moneys.

6. The director of the budget shall provide quarterly reports to the

chair of the senate finance committee and the chair of the assembly ways

and means committee on the receipts and distributions of the health care

transformation fund, including an itemization of such receipts and

disbursements, the historical and projected expenditures, and the

projected fund balance.