2006 New York Code - Authorizing the legislature to establish a fund or funds for tax revenue stabilization reserves; regulating payments thereto and withdrawals therefrom.


 
    §  17.  The  legislature  may  establish a fund or funds to aid in the
  stabilization of the tax revenues of the state available for expenditure
  or distribution. Any law creating such a fund shall specify the  tax  or
  taxes  to  which  such  fund  relates, and shall prescribe the method of
  determining the amount of revenue from any such tax or taxes which shall
  constitute a norm of each fiscal year. Such part as shall be  prescribed
  by  law  of  any  revenue derived from such tax or taxes during a fiscal
  year in excess of such norm shall be paid  into  such  fund.  No  moneys
  shall at any time be withdrawn from such fund unless the revenue derived
  from  such  tax  or taxes during a fiscal year shall fall below the norm
  for such year; in which event such amount as may be prescribed  by  law,
  but  in no event an amount exceeding the difference between such revenue
  and such norm, shall be paid from such fund into the general fund.
    No law changing the method of determining a norm  or  prescribing  the
  amount  to  be paid into such a fund or to be paid from such a fund into
  the general fund may become effective until three years from the date of
  its enactment.


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