Statute · New York NYS Financial Emergency Act for the city of NY
N.Y. NYS Financial Emergency Act for the city of NY § 2-a — Legislative declaration of financial emergency
N.Y. NYS Financial Emergency Act for the city of NY § 2-a
- Type
- Statute
- Source
- New York NYS Financial Emergency Act for the city of NY
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
* § 2-a. Legislative declaration of financial emergency. The legislature hereby finds and declares that a state of financial emergency continues to exist within the city. The legislature further finds and declares that the maintenance by the city of a balanced budget in accordance with generally…
Citator
N.Y. NYS Financial Emergency Act for the city of NY § 2-a — Legislative declaration of financial emergency is in force in the current edition of the Code, and nothing recorded condemns it.
* § 2-a. Legislative declaration of financial emergency. The legislature hereby finds and declares that a state of financial emergency continues to exist within the city. The legislature further finds and declares that the maintenance by the city of a balanced budget in accordance with generally accepted accounting principles and the city's borrowing practices are and will continue to be a matter of overriding state concern, and that it is also appropriate and desirable for the legislature to exercise its duty under section twelve of article eight of the state constitution to restrict the powers of the city to prevent abuses in taxation and assessments and in contracting of indebtedness by the city.
* Terminates July 1, 2035 or ... see § 13