There is a newer version of the New York Consolidated Laws
2006 New York Code - Statement And Estimate By The Mayor.
§ 1515. Statement and estimate by the mayor. a. The mayor shall prepare and submit to the council, immediately upon the adoption of a single budget pursuant to section two hundred fifty-four, a statement setting forth the amount of the budget as approved by the council for the ensuing year and the mayor shall prepare and submit to the council not later than the fifth day of June an estimate of the probable amount of (1) receipts into the city treasury during the ensuing fiscal year from all the sources of revenue of the general fund and (2) all receipts other than those of the general fund and taxes on real property. The mayor may include in the statement of the amount of the budget as approved by the council a confirmation of such amount, and thereby waive mayoral veto power pursuant to section two hundred fifty-five. b. If, as a result of the exercise of the mayor's veto pursuant to section two hundred fifty-five, the amount of the budget for the ensuing fiscal year differs from the amount of the budget approved by the council pursuant to section two hundred fifty-four, not later than two days after the budget is finally adopted the mayor shall prepare and submit to the council a statement setting forth the amount of the budget for the ensuing year, and the council shall, if necessary, fix new annual tax rates pursuant to subdivision c of section one thousand five hundred sixteen. c. The mayor, prior to establishing the final estimate of revenues for the ensuing fiscal year as required by this section, shall consider any alternative estimate of revenues which is submitted pursuant to subdivision d of this section and which is accompanied by a statement of the methodologies and assumptions upon which such estimate is based in such detail as is necessary to facilitate official and public understanding of such estimates. d. Any person or organization may, prior to the fifteenth day of May, submit to the mayor an official alternative estimate of revenues for consideration by the mayor in accordance with subdivision c. Such estimate shall be in a form prescribed by the mayor.
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