N.Y. State Finance Law § 99-e: State university stabilization account

§ 99-e. State university stabilization account. 1. There is hereby

established in the joint custody of the state comptroller and the

commissioner of taxation and finance an account in the miscellaneous

special revenue fund to be known as the state university stabilization

account.

2. Such account shall consist (a) of any and all unexpended and

unencumbered moneys received by the state university of New York from

tuition, fees, user charges, or other sources and deposited into the

income offset account, and (b) any other undisbursed balance of the

general fund appropriation as of the last day of the state university

fiscal year as reduced pursuant to subparagraph six of paragraph c of

subdivision four of section three hundred fifty-five of the education

law to reflect any aggregate amount established by the director of the

budget less than the amount appropriated. Such moneys shall be

transferred by the state comptroller into the stabilization account on

or before September fifteenth within thirty days of such date. In

addition, all or a portion of the account balances in other state

university income accounts, except the dormitory income reimbursable

account, shall be transferred by the state comptroller, at the request

of the state university, to the stabilization account.

3. Moneys of the account shall only be available to the state

university of New York and following appropriation by the legislature,

shall be credited to the state operated institutions, statutory or

contract colleges, hospitals and/or system administration stabilization

subaccounts from which the savings were achieved. Notwithstanding

section forty of this chapter, section three hundred fifty-five of the

education law or any other law to the contrary, all appropriations made

from this account to the state university of New York shall remain in

full force and effect for two years from July first of the effective

year of the chapter in which the appropriations were made. Moneys shall

be paid out of the account on the audit and warrant of the state

comptroller on vouchers certified or approved by the chancellor of the

state university of New York or his or her designee.