Section 316. Annual appropriation by state

a. Upon the basis of each annual
  actuarial  valuation  and  appraisal  provided  for in this article, the
  comptroller, on or before the fifteenth day of  October  of  each  year,
  shall  prepare  and  file  with  the  director of the budget an itemized
  estimate of the amounts necessary to be appropriated by the state to the
  pension accumulation fund and the New York state public employees  group
  life  insurance  plan,  as  appropriate.  Such  itemized estimate may be
  revised on or before December thirtieth of each such year. Such  amounts
  shall  be  sufficient  to  provide  for  payment  in  full  for  (i) the
  succeeding fiscal year of all estimated obligations of the state to  the
  policemen's  and  firemen's  retirement  system;  and  (ii)  any  actual
  obligations of the state to such retirement  system,  remaining  unpaid,
  plus  interest  on  such amount, for the fiscal year ending on the March
  thirty-first preceding such date; provided, however, that such  estimate
  of  actual  obligations shall be made commencing with the filings due on
  October fifteenth, nineteen hundred eighty-seven and thereafter. If,  as
  a  result  of the estimate required to be made pursuant to clause (i) of
  the preceding sentence, the state overpaid its actual obligation to  the
  retirement  system  in  any  year,  the  amount  estimated in the filing
  required by this subdivision  next  succeeding  such  overpayment  shall
  reflect the amount of such overpayment, plus interest on such amount, as
  a  reduction  in amounts that would otherwise be estimated to be due the
  retirement system from the state. An item of appropriation  which  shall
  be  sufficient  to provide for such obligations shall be included in the
  next annual appropriation bill when it is presented to  the  legislature
  for  passage.  The  amounts so appropriated or so much thereof as may be
  required shall be paid  from  the  state  treasury  on  warrant  of  the
  comptroller  into  the  pension accumulation fund and the New York state
  public employees group life insurance plan,  as  appropriate,  on  March
  first  of  each  state  fiscal  year.  For the purposes of this section,
  interest shall mean the rate or rates of interest used in the  actuarial
  valuations  covering  the  period  of  time  over which such interest is
  computed.
    b. On or before  the  fifteenth  day  of  October  of  each  year  the
  comptroller  shall  file  with  the  director  of the budget an itemized
  estimate of the expenses of the  policemen's  and  firemen's  retirement
  system  for  the ensuing year. The director of the budget may revise and
  amend such estimate. After such revision and  amendment,  if  any,  such
  director  shall  approve the same for inclusion in the executive budget.
  No monies shall be paid out of the pension accumulation  fund  for  such
  expenses unless expenditures therefor shall have been authorized by law.
    c.  Whenever  the  compensation  of  any member of the policemen's and
  firemen's retirement system is paid from  a  special  or  administrative
  fund  provided  for  by  law,  all  contributions to the policemen's and
  firemen's retirement system  including  a  proportionate  share  of  the
  administrative  expense  thereof, which otherwise would be chargeable to
  the general fund of the state, shall, with the approval of the  director
  of the budget, be paid from such special or administrative fund.