Establishes an annual spending growth cap for state operating funds in New York.

The bill amends the state finance law to establish an annual spending growth cap for state operating funds. This cap is determined by the average inflation rates of the three preceding calendar years, divided by three or two percent, whichever is less. The governor must certify that the executive budget does not exceed this cap. If the budget exceeds the cap, the governor must take corrective action. The comptroller must determine if the enacted budget exceeds the cap within five days of legislative action on the budget.

Establishes an annual spending growth cap for state operating funds in New York.

The bill amends the state finance law to establish an annual spending growth cap for state operating funds. This cap is determined by the average inflation rates of the three preceding calendar years, divided by three or two percent, whichever is less. The governor must certify that the executive budget does not exceed this cap. If the budget exceeds the cap, the governor must take corrective action. The comptroller must determine if the enacted budget exceeds the cap within five days of legislative action on the budget.