Shown verbatim: the complete text as captured from the official source posted by the New York State Senate, fetched 2026-08-11. Nothing is edited or removed. Where this bill amends existing law, language marked for deletion in the official source appears here in brackets. The official bill page.
S T A T E O F N E W Y O R K
________________________________________________________________________
S. 9002--A A. 10002--A
S E N A T E - A S S E M B L Y
January 20, 2026
___________
IN SENATE -- A BUDGET BILL, submitted by the Governor pursuant to arti-
cle seven of the Constitution -- read twice and ordered printed, and
when printed to be committed to the Committee on Finance -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
IN ASSEMBLY -- A BUDGET BILL, submitted by the Governor pursuant to
article seven of the Constitution -- read once and referred to the
Committee on Ways and Means -- committee discharged, bill amended,
ordered reprinted as amended and recommitted to said committee
AN ACT making appropriations for the legal requirements of the state
debt service and lease purchase payments and other special contractual
obligations
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The several sums specified in this section, or so much
thereof as may be sufficient to accomplish in full the purposes desig-
nated by the appropriations, are hereby appropriated to be paid as here-
in provided for the funds and purposes specified and are made available
for the fiscal year beginning April 1, 2026.
DEBT SERVICE FUND--GENERAL DEBT SERVICE FUND
Maintenance undistributed
For the legal requirements of principal, interest, and
related expenses on general obligation bonds, special
contractual and revenue bond obligations, as issued
pursuant to articles 5-C and 5-F of the state finance
law and payments for interest rate exchange and similar
agreements, in accordance with the following schedule .. 9,014,000,000
==============
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD12652-02-6
S. 9002--A 2 A. 10002--A
SCHEDULE
GENERAL OBLIGATION PAYMENTS
The sum of $405,000,000, or so much thereof as may be
necessary, is hereby appropriated for payment by the
state comptroller for general obligation bonds issued in
connection with pure waters, environmental quality,
transportation capital facilities, rail preservation,
outdoor recreation development, energy conservation
through improved transportation, parks and recreation
land acquisition, rebuild New York through transporta-
tion infrastructure renewal, accelerated capacity and
transportation improvements of the nineties, clean
water/clean air, rebuild and renew New York transporta-
tion, smart schools purposes, and clean air, clean water
and green jobs purposes, in accordance with the follow-
ing schedule ............................................. 405,000,000
--------------
SCHEDULE
Debt Service Funds
General Debt Service Fund
General Debt Service Fund - 40150
Debt service payments (85551) (60400) ........ 400,000,000
Related expenses (80467) (51000) ............... 5,000,000
--------------
Total of schedule .......................... 405,000,000
==============
SPECIAL CONTRACTUAL OBLIGATION PAYMENTS
The several sums, or so much thereof as may be sufficient
to accomplish in full the purposes designated by the
appropriations, are hereby appropriated and are, subject
to the issuance of certificates of approval of avail-
ability by the director of the budget, available for the
purpose of making payments for special contractual obli-
gations, in accordance with the following schedule ........ 56,000,000
--------------
SCHEDULE
Debt Service Funds
General Debt Service Fund
Debt Service Lease Payments Fund - 40151
For payment to the City University
Construction Fund for City University
senior colleges and for community
colleges. Moneys hereby appropriated, or
portions thereof, are for payments net of
all interest and investment earnings on
senior and community college payments and
other excess earnings held by the City
University Construction Fund, in accord-
S. 9002--A 3 A. 10002--A
ance with the following sub-schedule
(80622) (60400) ............................. 21,000,000
sub-schedule
City University senior
colleges ...................... 20,000,000
City University community
colleges ....................... 1,000,000
--------------
Total of sub-schedule ......... 21,000,000
--------------
For payment to the Gateway Development
Commission for the payment of principal
and interest pursuant to an agreement or
agreements between the Gateway Development
Commission and the State .................... 10,000,000
--------------
Total of debt service schedule ................ 31,000,000
--------------
For payment of related expenses in accord-
ance with the following schedule ............ 25,000,000
--------------
SCHEDULE
Debt Service Funds
General Debt Service Fund
Debt Service Lease Payments - 40151
Dormitory Authority (80634) (51000) ............ 5,000,000
Dormitory Authority Capital Expenses (80635)
(51000) ..................................... 15,000,000
Gateway Development Commission ................. 5,000,000
--------------
Total of schedule ........................... 25,000,000
--------------
Total of schedules ............................ 56,000,000
==============
REVENUE BOND FINANCING AGREEMENT PAYMENTS
The several sums, or so much thereof as may be necessary,
are hereby appropriated for payment to the dormitory
authority, the environmental facilities corporation, the
housing finance agency, the thruway authority, and the
urban development corporation and are, subject to the
issuance of certificates of approval of availability by
the director of the budget, available for the purpose of
making financing agreement payments related to personal
income tax revenue note and bond obligations, as author-
ized pursuant to article 5-C of the state finance law
and in accordance with the following schedule .......... 7,050,000,000
S. 9002--A 4 A. 10002--A
--------------
SCHEDULE
Debt Service Funds
General Debt Service Fund
Revenue Bond Tax Fund - 40152
Debt Service Payment (80364) (60400) ....... 4,000,000,000
Subordinate Note Payments (80364) (60400) .. 3,000,000,000
Related Expenses (80602) (51000) .............. 50,000,000
--------------
Total of schedule ........................ 7,050,000,000
==============
REVENUE BOND FINANCING AGREEMENT PAYMENTS
The several sums, or so much thereof as may be necessary,
are hereby appropriated for payment to the dormitory
authority, the thruway authority, and the urban develop-
ment corporation and are, subject to the issuance of
certificates of approval of availability by the director
of the budget, available for the purpose of making
financing agreement payments related to sales tax reven-
ue bond obligations, as authorized pursuant to article
5-F of the state finance law and in accordance with the
following schedule ..................................... 1,503,000,000
--------------
SCHEDULE
Debt Service Funds
General Debt Service Fund
Sales Tax Revenue Bond Tax Fund - 40154
Debt Service Payments (80364) (60400) ...... 1,500,000,000
Related Expenses (80602) (51000) ............... 3,000,000
--------------
Total of schedule ........................ 1,503,000,000
==============
Total of schedule ........................................ 9,014,000,000
==============
DEBT SERVICE FUND--HEALTH INCOME FUND
For debt service and related expenses in accordance with
the following schedule .................................... 11,000,000
--------------
SCHEDULE
Debt Service Funds
Department of Health Income Fund
NYC Veterans' Home Income Fund - 40302
The sum of $1,000,000, or so much thereof as
may be necessary of operating revenues
S. 9002--A 5 A. 10002--A
received from the New York City Veterans'
Home, is hereby appropriated for payment
by the state comptroller of all obli-
gations under the terms of agreements
between the health department and the
dormitory authority (80426) (60400) .......... 1,000,000
--------------
Debt Service Funds
Department of Health Income Fund
Health Income Fund - 40301
The sum of $4,000,000, or so much thereof as
may be necessary of operating revenues
received from department of health facili-
ties other than the New York City Veter-
ans' Home, is hereby appropriated for
payment by the state comptroller of all
obligations under the terms of agreements
between the health department and the
dormitory authority (80427) (60400) .......... 4,000,000
Related expenses (80425) (51000) ............... 3,000,000
Capital expenses (80424) (51000) ............... 3,000,000
--------------
Total of schedule ........................... 11,000,000
==============
TRUST AND AGENCY FUND--SCHOOL CAPITAL FACILITIES
FINANCING RESERVE FUND
The sum of $17,000,000, or so much thereof as may be
necessary, is hereby appropriated for payment by the
state comptroller to the dormitory authority for the
purpose of meeting the terms of any contractual agree-
ments between the dormitory authority and participating
special act school districts listed in chapter 566 of
the laws of 1967, as amended, state-supported schools
for blind and deaf students and children with other
handicapping conditions pursuant to article 85 of the
education law, and private not-for-profit schools
approved by the commissioner of education pursuant to
article 89 of the education law, in accordance with the
following schedule ........................................ 17,000,000
--------------
SCHEDULE
Fiduciary Funds
School Capital Facilities Financing Reserve Fund
School Capital Facilities Financing Reserve Fund - 60050
Debt service payments (80418) (60400) ......... 15,000,000
Related expenses (80418) (51000) ............... 1,000,000
Capital expenses (80417) (51000) ............... 1,000,000
--------------
S. 9002--A 6 A. 10002--A
Total of schedule ........................... 17,000,000
==============
DEBT REDUCTION RESERVE FUND
Debt Service Funds
Debt Reduction Reserve Fund
Debt Reduction Reserve Fund - 40001
The sum of $500,000,000, or so much thereof as may be
necessary, is hereby appropriated from the debt
reduction reserve fund for the purposes of principal,
interest, and related expenses, for retiring or defeas-
ing bonds previously issued, including any accrued
interest or other expenses related thereto, for any
state-related bonding program or programs and for trans-
fer, upon request of the director of the budget, to
various capital projects funds as designated by the
director of the budget for the funding of capital
projects, equipment acquisitions, or similar expenses
which have been authorized by law to be financed through
the issuance of bonds, notes, or other obligations
(80415) (60400) .......................................... 500,000,000
==============
CONTINGENT AND OTHER APPROPRIATIONS
§ 2. The several sums specified in this section, or so much thereof as
may be sufficient to accomplish in full the purposes designated by the
appropriations, are hereby appropriated to be paid as herein provided
for the funds and purposes specified and are made available for the
fiscal year beginning April 1, 2026.
GENERAL FUND--STATE PURPOSES ACCOUNT
General Fund
State Purposes Account - 10050
The sum of $20,000,000, or so much thereof as may be
necessary, is hereby appropriated from the general fund
to the credit of the state purposes account solely for
the purpose of making payments of rebates to the federal
government to maintain the exemption from federal income
taxation of the interest paid to the holders of state
obligations issued pursuant to sections 55 and 57 of the
state finance law (80414) (51000) ......................... 20,000,000
==============
General Fund
State Purposes Account - 10050
The sum of $225,000,000, or so much thereof as may be
necessary, is hereby appropriated from the general fund
to the credit of the state purposes account solely for
the purpose of redeeming general obligation bonds issued
by the state of New York, provided, however, that the
S. 9002--A 7 A. 10002--A
amount to be expended from this appropriation shall be
limited to the amount, as determined by the comptroller,
to be necessary to maintain the exemption from federal
taxation of the interest paid to the holders of state
obligations issued pursuant to sections 55 and 57 of the
state finance law (80413) (60400) ........................ 225,000,000
==============
ALL FUNDS
For payment of principal and interest, including but not
limited to reserve fund credit facilities on variable
rate obligations and interest rate exchange and similar
agreements, for state-supported debt or for transfer to
any other appropriation, in accordance with the follow-
ing schedule ............................................. 851,000,000
--------------
SCHEDULE
All Funds
Debt service payments (80626) (60400) ........ 800,000,000
Related expenses (80626) (51000) .............. 50,000,000
Interest rate exchange and similar agree-
ments (80359) (60400) ........................ 1,000,000
--------------
Total of schedule .......................... 851,000,000
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