Section 3666. 2000 fiscal year budget modification

1. The control period as
  set  forth  in section thirty-six hundred sixty-nine of this title shall
  be instituted on June thirtieth, two thousand, unless prior to such date
  (a) the county executive, after approval by the legislature, shall  have
  submitted to the authority a modification to the county's budget for the
  2000  fiscal  year, as in effect on May tenth, two thousand; and (b) the
  authority shall have determined that such modification when  implemented
  will  ensure  a  reduction  of  the  projected gap, through recurring or
  nonrecurring actions, for the 2000 fiscal year and,  together  with  any
  budget modifications prior to May tenth, two thousand, through recurring
  actions,  for  the  three next succeeding fiscal years, in an amount not
  less than fifty million dollars per year.
    2. In order that such budget modification be effective  on  or  before
  June  thirtieth,  two  thousand, the county executive shall within seven
  days following the effective  date  of  this  title  submit  a  proposed
  modification  to  the  legislature.  Within  seven  days thereafter, the
  legislature  shall   approve   such   modification   or   a   substitute
  modification.  Upon  approval  by  the legislature, the county executive
  shall submit such modification to the authority. Not later than ten days
  after  such  budget  modification  shall  have  been  submitted  to  the
  authority,  the authority shall approve or disapprove such modification,
  provided that the authority may approve such modification only upon  its
  determination  that  such modification when implemented will ensure such
  reduction of the projected gap for  each  fiscal  year  as  required  by
  subdivision one of this section.
    3.   In   the   event  the  authority  shall  disapprove  such  budget
  modification based on disapproval of certain actions or assumptions, the
  authority shall promptly thereafter notify the county executive  of  its
  reasons.    The county executive shall thereafter, after approval by the
  legislature,  resubmit  a  budget  modification,  based  on  actions  or
  assumptions   other  than  those  that  have  been  disapproved  by  the
  authority, for consideration by the authority and in sufficient time for
  the authority to have a seven day review period prior to June thirtieth,
  two thousand.