Section 22-C. Capital program and financing plan

The  governor shall
  annually submit to the legislature a capital program and financing  plan
  concurrent  with  the  executive  budget, in addition to the information
  required by section twenty-two of this article. The plan shall contain a
  comprehensive assessment of the capital assets and program needs of  all
  state  agencies, a review and analysis of how such requirements would be
  financed, an analysis of the affordability of state-supported debt,  and
  an analysis of all costs related to the financing of such plan.
    1.  When  used  in  this  section,  the following terms shall have the
  following meanings:
    (a) "Comprehensive construction program" shall mean the categories  or
  groups  of  one  or  more  capital  appropriations  which  have a common
  objective within a capital program.
    (b) "Director" shall mean the director of the division of  the  budget
  of the state of New York.
    (c)  "Pay-as-you-go"  financing  shall mean transfers from the general
  fund to capital projects funds, and any taxes, user fees,  repayment  of
  advances,  or miscellaneous receipts from non-bond proceeds deposited to
  capital projects funds.
    (d) "Plan" shall mean the capital program and financing plan  required
  by this section.
    (e)  "State  agency"  shall  mean  any  state  department  or  agency,
  including any  public  benefit  corporation,  except  a  public  benefit
  corporation  whose  members  are  appointed by the governing board or an
  officer of a county, city, town or village, or other instrumentality  of
  the state.
    (f) "State-supported debt" shall mean any bonds or notes issued by the
  state   or   a   state   public  corporation  for  which  the  state  is
  constitutionally obligated to  pay  debt  service  or  is  contractually
  obligated  to pay debt service subject to an appropriation, except where
  the state has a contingent contractual obligation.
    2. The governor and/or his or  her  designee  shall  conduct  hearings
  annually on the capital needs of the state at which state agencies shall
  present  an  assessment  of  the  needs  of their capital programs. Such
  hearings shall  be  open  to  the  public  who  shall  be  afforded  the
  opportunity to comment.
    3.  The capital program and financing plan shall contain the following
  information:
    (a) A summary which shall include an overview  of  the  major  capital
  programs,  an  explanation  of  the  major sources of financing for such
  plan, and an assessment of the fiscal impact  of  the  plan's  financing
  methods on the financial plan of the state.
    (b)  For each major capital program which may include, but need not be
  limited  to,  transportation,   mental   hygiene,   public   protection,
  environment and recreation, education, housing and economic development,
  and general government, the plan shall include the following:
    (i)  an overview of the capital program's goals and objectives, agency
  responsibilities,  prior  capital  program  activities,  accomplishments
  during  the  prior  fiscal  year  and  an explanation of any significant
  delays in achieving the prior fiscal year's plans, an explanation of how
  any  proposed  capital   funding   will   address   continuing   capital
  requirements  and  new  program  initiatives,  and an explanation of the
  impact of the capital plan on the current and future operations of state
  agencies and their ability  to  deliver  services  or  accomplish  their
  missions;
    (ii)   a   summary   of   the  capital  program's  remaining  existing
  appropriations   and   anticipated   future   appropriations   by   each

  comprehensive  construction program and fund for the current fiscal year
  and each of the next five fiscal years;
    (iii)   a   summary   of   the  capital  program's  projected  capital
  construction contract commitments for the current fiscal year  and  each
  of  the next five fiscal years and a comparison with previous commitment
  plans;
    (iv) a summary of the capital program's estimated  disbursements  from
  existing  appropriations  and  from anticipated future appropriations by
  each comprehensive construction program and fund for at least the  prior
  fiscal  year,  the  current fiscal year and each of the next five fiscal
  years,  and  a  summary  of  how  these  estimated   disbursements   are
  anticipated to be financed;
    (v)  a  summary  of maintenance activities which are anticipated to be
  undertaken or continued in the next five fiscal years  for  the  state's
  capital programs and a summary of the scheduled maintenance requirements
  developed pursuant to section twenty-six of this article; and
    (vi)  a  summary  schedule  showing  the  age, condition and estimated
  remaining useful life as of September thirtieth of  each  year  for  all
  existing  capital  assets or capital asset types with a replacement cost
  of not less than five million dollars, under  the  jurisdiction  of  all
  state agencies subject to the provisions of this section.
    (c)  A  statement  of  the mix of financing sources for the plan which
  shall include, for the current fiscal year and each  of  the  next  five
  fiscal years, the following:
    (i)  the  annual total of pay-as-you-go financed capital disbursements
  proposed for each capital program, by agency, and the  annual  total  of
  pay-as-you-go  financed  capital  disbursements  as  a percentage of the
  annual total of capital projects disbursements;
    (ii) the annual total of bond-financed capital disbursements  proposed
  for  each  capital program, by agency, identified separately for general
  obligation bonds and revenue bonds of the state, and  any  other  bonds,
  and  the  annual  total  of  bond-financed  capital  disbursements  as a
  percentage of the annual total of capital projects disbursements;
    (iii) the annual total of federal-grant-financed capital disbursements
  for  each  capital  program,  by  agency,  and  the  annual   total   of
  federal-grant-financed  capital  disbursements  as  a  percentage of the
  annual total of capital projects disbursements;
    (iv) schedules of the projected annual state-supported bond issuances,
  proposed for each capital program, by agency, by issuer, and an analysis
  of  existing  debt  authorizations  and  the  need  for  any  additional
  authorizations;
    (v) schedules of projected outstanding bonds, including retirements by
  year identified separately for state-supported bond issuances by issuer,
  and by capital program by agency, where practicable;
    (vi)  schedules  of the projected personal income of the state and the
  projected ratio of outstanding state-supported bonds to personal income;
    (vii) schedules of projected state-supported  debt  service  costs  by
  issuer, and by capital program by agency, where practicable; and
    (viii)  an  analysis of trends in municipal bond interest rates and an
  explanation of the interest rate assumptions, timing  of  principal  and
  interest  payments, and the timing and size of projected state-supported
  bond sales used in the debt service projections.
    (d) The capital program and financing plan, which is current, accurate
  and reflective  of  all  previous  legislative  enactments  and  of  the
  governor's  plan, shall also include the following: A detailed schedule,
  by state agency and for each  state  agency  by  fund,  of  all  capital
  projects  which  the governor recommends or anticipates be undertaken or

  continued by any state agency in the next five fiscal years, which shall
  provide the following information for each such capital projects:
    (i)   a   capital   plan  project  reference  number  which  shall  be
  consistently assigned each year solely to such project,
    (ii) a description of the project in less than thirty words,
    (iii) an indication of the category into which the  project  has  been
  classified in the capital plan,
    (iv) the estimated total cost of the project,
    (v)  the  total of all disbursements for the project made prior to the
  then current fiscal year,
    (vi) the total amount of disbursements for the project estimated to be
  made during the current fiscal year and during each of the next  ensuing
  five  fiscal  years, provided however, that (A) the information required
  by this subparagraph may be provided for groupings of projects in  those
  cases  where  the governor determines it cannot be provided on a project
  by project basis, and (B) the total of all  disbursements  estimated  in
  accordance with the requirements of this subparagraph to be made for all
  capital  projects  during the current fiscal year and during each of the
  next ensuing five fiscal  years, excluding those disbursements which are
  estimated in accordance with the requirements of this subparagraph to be
  made by public  benefit  corporations  and  which  are  not  subject  to
  appropriations,  shall  be  equal,  respectively,  to  the  total of all
  disbursements  estimated,  in  the  financial  projections  required  by
  subdivisions  one  and four of section twenty-two of this article, to be
  made for all capital projects during the then current  fiscal  year  and
  during each of the next ensuing five fiscal years,
    (vii) the estimated date of project completion,
    (viii)  the  amount  of  the project cost for which the state or state
  agency will be contractually obligated as  of  the  close  of  the  then
  current fiscal year, and
    (ix)  subtotals  of  the  information  required by subparagraphs four,
  five, six and eight of this paragraph by agency and within  each  agency
  for  each  of  the categories into which the individual capital projects
  appropriations are classified in the appropriations bill involved.
    (e) A comprehensive  financial  report  and  plan  for  the  dedicated
  highway  and  bridge  trust fund established by section eighty-nine-b of
  this chapter, which shall be submitted to the comptroller  at  the  same
  time  as  the  plan  is  submitted  to  the legislature, and which shall
  include the following information pertaining to  the  dedicated  highway
  and  bridge  trust  fund separately stated for the last completed fiscal
  year, the current fiscal year and the next five fiscal years:
    (i) a detailed description of all actual and projected revenues of the
  dedicated highway and bridge trust fund, separately stating  the  amount
  received or expected to be received from bond proceeds, and the amounts,
  separately  identified,  received or expected to be received from taxes,
  fees, transfers, or other sources;
    (ii) a detailed description of actual  or  planned  disbursements  and
  transfers  from  the dedicated highway and bridge trust fund, separately
  stating in the aggregate the amounts disbursed or transferred or planned
  to be disbursed or transferred for (A) debt service costs,  (B)  capital
  project  costs,  (C)  state operations costs, (D) costs of contracts for
  engineering and similar or related services related to  capital  project
  costs  and  state  operations,  and  (E) the costs of state employees to
  provide similar services on projects for which service contracts are not
  expected to be used, and further separately stating the amounts of  such
  capital  project  and  state operations costs disbursed or planned to be
  disbursed for personal service and non-personal service costs

    (f) For the preceding four fiscal years and the current  fiscal  year,
  the  bond  coverage ratio on an annual basis, including the formula used
  to compute such ratio and the source of that formula.
    (g)  An explanation of any deficit projected for the end of any fiscal
  year covered by the  plan  stating  whether  the  projected  deficit  is
  expected  to  be  caused  by an imbalance between projected revenues and
  projected expenditures, or by the timing of  payments  within  a  fiscal
  year, or by other causes.
    (h)  A  detailed  description of actual or proposed appropriations and
  reappropriations from the dedicated highway and bridge trust  fund,  and
  the  actual or planned disbursements pursuant to such appropriations and
  reappropriations.
    (i) An explanation of any actions proposed  to  be  taken  to  achieve
  increased opportunity for meaningful participation in the performance of
  state  contracts  by  minority  and  women-owned business enterprises in
  accordance with article fifteen-A of  the  executive  law,  including  a
  compliance  report to be submitted by July first of each year commencing
  with the two thousand five--two thousand six fiscal year  and  for  each
  subsequent  year  thereafter that includes: all the items of information
  required in accordance with regulations promulgated by the  director  of
  the  division  of  minority  and  women's  business  development  in the
  department of  economic  development  under  article  fifteen-A  of  the
  executive   law;  goals  for  participation  by  certified  minority  or
  women-owned business enterprises for such fiscal year; and a description
  of the types of expenditures, projects or contracts.
    (j) Such other information as shall be necessary to present a full and
  accurate description of the financial position of the dedicated  highway
  and bridge trust fund.
    For  the  purposes  of this subdivision, capital projects of less than
  fifty thousand dollars may be grouped into appropriate categories.
    4. (a) For the purposes of subdivision three of this section, the term
  "state agency" shall mean any state department or agency, including  any
  public  benefit  corporation,  except a public benefit corporation whose
  members are appointed by the governing board or an officer of a  county,
  city, town or village, or other instrumentality of the state.
    (b)  For  the  purposes of subdivision three of this section, the term
  "capital project" as defined in a subdivision two-a of  section  two  of
  this  chapter  shall  include any project which is being, has been or is
  proposed to be:
    (i) financed by the issuance of bonds, notes  or  other  evidences  of
  indebtedness  of  the  state  or any public benefit corporation thereof,
  except a public benefit corporation whose members are appointed  by  the
  governing board or an officer of a county, city, town or village;
    (ii)  funded by an appropriation from any fund of the state classified
  by the comptroller, in accordance with section seventy of this  chapter,
  as a capital project fund; or
    (iii)  funded  by  an  appropriation from any fund of the state, other
  than a fund classified as a capital projects fund,  where  the  specific
  expenditure  involved  is declared by law to be for a capital project or
  is determined to be for a capital project under standards as they may be
  prescribed from time to time by the director with the concurrence of the
  comptroller; provided further that
    (iv) the governor may exempt  from  the  requirements  of  subdivision
  three of this section any project financed by public benefit corporation
  programs  which  are  used  as  sources  of  capital for private clients
  provided that neither the  state  nor  the  public  benefit  corporation
  involved are in any way liable for the debt of such projects, and he may
  also  exempt  debt  issued  by the job development authority pursuant to

  title eight of article eight of the public authorities law, and provided
  further that any such exemptions shall not impair the  effectiveness  of
  the   capital  plan  being  prepared  and  submitted  pursuant  to  this
  subdivision.
    5.  Within forty days following the submission of the budget submitted
  annually by the governor to the legislature, in accordance with  article
  seven  of  the  constitution, the director of the budget shall submit to
  the chairs of the senate finance committee and  the  assembly  ways  and
  means  committee  a  listing  of  any changes to the capital program and
  financing plan submitted originally with the executive  budget.  At  the
  same  time,  the  director  of  the  budget  shall  also  submit  to the
  comptroller a copy of the portion of such listing showing any changes to
  the  comprehensive  financial  plan  required  by   paragraph   (e)   of
  subdivision three of this section.
    6.  By  the later of July thirtieth or ninety days after the enactment
  of all bills that constitute the budget by the legislature, the governor
  shall submit to the legislature an update to  the  capital  program  and
  financing plan, which shall contain such updated information in the same
  form  as  prescribed  in  subdivision  three  of  this  section,  and an
  explanation of any changes from the previously submitted capital program
  and financing plan. At the same time, the governor shall also submit  to
  the  comptroller a copy of the portion of such update containing updated
  information  in  the  same  form  as  prescribed  by  paragraph  (e)  of
  subdivision  three of this section, and an explanation of any changes to
  the  comprehensive  financial  plan  required  by   paragraph   (e)   of
  subdivision three of this section.