Section 87-F. Appropriations to the state insurance fund

1.
  Notwithstanding any other provision of law, the  state  insurance  fund,
  hereinafter  referred  to  as  the  fund,  and  all  state officers with
  responsibility for the custody or investment of  such  fund  or  of  its
  assets,  shall  annually,  no  later  than  November first in each year,
  submit to  the  director  of  the  budget  the  fund's  request  for  an
  appropriation  of  one  billion sixty-five million dollars. The governor
  shall include such amount in a budget bill for  the  next  state  fiscal
  year.  The  state  comptroller shall encumber the amount so appropriated
  before the end of the fiscal year for which any  such  appropriation  is
  made.  If  for  any  fiscal  year  commencing  on  or after April first,
  nineteen hundred eighty-three, the governor fails  to  submit  a  budget
  bill  containing an appropriation in the amount requested by the fund or
  the legislature fails  to  appropriate  the  amount  in  a  budget  bill
  submitted  by the governor for such fiscal year, the amount appropriated
  for and encumbered during the preceding fiscal  year  shall  be  payable
  forthwith  to  the  fund  on  the  first day of July of such year in the
  manner prescribed by law, provided, however, that such amount shall  not
  exceed  the  amount  of moneys transferred to the general fund, the note
  repayment account or the capital projects fund by the fund  pursuant  to
  the  provisions  of  chapter  fifty-five of the laws of nineteen hundred
  eighty-two,  chapter  twenty-eight  of  the  laws  of  nineteen  hundred
  eighty-six,   chapter  forty-seven  of  the  laws  of  nineteen  hundred
  eighty-seven  and  chapter  seven  of  the  laws  of  nineteen   hundred
  eighty-nine.
    2.  Notwithstanding any other provision of law, the fund and all state
  officers with responsibility for the custody or investment of such  fund
  or  of  its  assets shall annually, no later than November first in each
  year, submit to the director of the budget the fund's additional request
  for an appropriation of two  hundred  thirty  million  dollars  and  the
  governor  shall  include such additional amount in a budget bill for the
  next state fiscal year. The state comptroller shall encumber the  amount
  so  appropriated  before  the  end of the fiscal year for which any such
  appropriation is made. If for any fiscal year  commencing  on  or  after
  April  first,  nineteen  hundred  ninety  the governor fails to submit a
  budget bill containing an appropriation in the amount requested  by  the
  fund or the legislature fails to appropriate the amount in a budget bill
  submitted  by the governor for such fiscal year, the amount appropriated
  for and encumbered during the preceding fiscal  year  shall  be  payable
  forthwith  to  the  fund  on  the  first day of July of such year in the
  manner prescribed by law, provided, however, that such amount shall  not
  exceed  the amount of moneys transferred to the general fund or the note
  repayment account by the fund pursuant to the provisions of a chapter of
  the laws of nineteen hundred ninety entitled "AN ACT  to  authorize  and
  direct  the  transfer  of  hazardous  waste  remedial  fund industry fee
  transfer account balances and receipts to the general fund; to amend the
  state finance law, in  relation  to  industry  fee  surcharges  and  the
  calculations  relating  thereto,  to  authorize  the  transfer  of state
  insurance fund balances to the  general  fund;  to  amend  the  workers'
  compensation  law, in relation to the provision of appropriations by the
  state for the maintenance of reserves of the state insurance  fund;  and
  making appropriations relating thereto".
    3.  It  is  hereby  found and declared that any appropriations made as
  provided for in subdivision one or two of this section shall  be  deemed
  admitted  assets  of  the state insurance fund, and that any transfer of
  moneys by the fund to the general fund, the note  repayment  account  or
  the  capital  projects fund in accordance with the provisions of chapter
  fifty-five  of  the  laws  of  nineteen  hundred   eighty-two,   chapter

  twenty-eight  of  the  laws  of  nineteen  hundred  eighty-six,  chapter
  forty-seven of the laws of nineteen hundred eighty-seven, chapter  seven
  of  the laws of nineteen hundred eighty-nine or a chapter of the laws of
  nineteen  hundred  ninety  entitled  "AN ACT to authorize and direct the
  transfer of hazardous waste remedial fund industry fee transfer  account
  balances  and  receipts  to the general fund; to amend the state finance
  law, in  relation  to  industry  fee  surcharges  and  the  calculations
  relating  thereto,  to  authorize  the  transfer of state insurance fund
  balances to the general fund; to amend the workers' compensation law, in
  relation to the  provision  of  appropriations  by  the  state  for  the
  maintenance  of  reserves  of  the  state  insurance  fund;  and  making
  appropriations relating thereto" is deemed a proper  and  prudent  legal
  undertaking  for  any  state  officer  with  the  responsibility for the
  custody or the investment of the assets of the fund, notwithstanding any
  other provision of law to the contrary.