N.Y. State Finance Law § 97-cccc*3: Tobacco revenue guarantee fund

* § 97-cccc. Tobacco revenue guarantee 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 tobacco

revenue guarantee fund.

2. Notwithstanding any inconsistent provision of law, rule or

regulation to the contrary, the director of the division of the budget

shall provide to chairpersons of the senate finance and assembly ways

and means committees, as part of the annual executive budget

submissions, a health care reform act financial plan which shall

include, but not be limited to, quarterly estimates of health care

reform act receipts and disbursements. Such plan shall be updated on a

quarterly basis, within thirty days of the quarter to which it shall

pertain, based on the actual experience of receipts, disbursements and

transfers, in a form suitable for comparison to the annual financial

plan. Such plan and quarterly updates shall be delivered to the

temporary president of the senate, the speaker of the assembly and the

comptroller annually with the submission of the summary financial plan

as required by section twenty-two of this chapter, and within thirty

days after the end of each quarter, respectively.

3. During each such quarter, the commissioner of health shall assess

the receipts deposited to the credit of the health care reform act

pursuant to a chapter of the laws of two thousand three. At the same

time, the director of the division of the budget shall determine the

amount of the payment that would have been due to the state for the

state's share of the tobacco master settlement agreement as of April

thirtieth of each such state fiscal year. The director of the division

of the budget in consultation with the commissioner of health shall then

determine: (a) whether the actual receipts to be received prior to the

end of each quarter are less than the greater of the planned receipts or

estimated disbursements; (b) if such determination results in an

underpayment or deficiency, the director of the division of the budget

shall immediately issue a declaration to the comptroller and the

commissioner of health identifying the amount of such underpayment or

deficiency; (c) notwithstanding any provision of law, upon receipt of

such declaration of underpayment or deficiency, the comptroller shall

transfer from amounts available in the general fund including, but not

limited to amounts collected pursuant to article twenty-two of the tax

law, to the tobacco revenue guarantee fund the amount identified as the

underpayment or deficiency pursuant to paragraph (b) of this

subdivision. Provided, however, that the total amount so transferred to

the tobacco revenue guarantee fund during any such state fiscal year

shall not exceed the amount of the payment that would have been due to

the state for the state's share of the tobacco master settlement

agreement as of April thirtieth of each such state fiscal year.

4. At the request of the commissioner of health, the comptroller shall

transfer any and all funds in the tobacco revenue guarantee fund to the

tobacco control and insurance initiatives pool established pursuant to

section twenty-eight hundred seven-v of the public health law. No later

than the thirty-first day of March, two thousand five, and again on the

thirty-first day of March, two thousand six, the commissioner of health

shall issue a report to the chairpersons of the assembly ways and means

committee and the senate finance committee setting forth the

calculations performed and the transfers made pursuant to this section.

5. Notwithstanding any other provision of this section or any other

contrary provision of law, for the period April first, two thousand

seven through March thirty-first, two thousand eleven, the provisions of

subdivision three of this section shall be suspended and have no force

and effect.

* NB There are 4 § 97-cccc's