Relates to interest earned on the statewide opioid settlement agreement money

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Relates to interest earned on the statewide opioid settlement agreement money

Relates to interest earned on the statewide opioid settlement agreement money Includes interest earned on the monies obtained by the state through the statewide opioid settlement agreement, in the opioid settlement fund; requires any New York subdivision that receives funds pursuant to an opioid settlement agreement to spend interest earned on such funds on approved uses.

What This Bill Does

• Relates to interest earned on the statewide opioid settlement agreement money Includes interest earned on the monies obtained by the state through the statewide opioid settlement agreement, in the opioid settlement fund; requires any New York subdivision that receives funds pursuant to an opioid settlement agreement to spend interest earned on such funds on approved uses.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

Relates to interest earned on the statewide opioid settlement agreement money
Includes interest earned on the monies obtained by the state through the statewide opioid settlement agreement, in the opioid settlement fund; requires any New York subdivision that receives funds pursuant to an opioid settlement agreement to spend interest earned on such funds on approved uses.

Current Bill Text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          9278

                                    I N  S E N A T E

                                    February 24, 2026
                                       ___________

        Introduced by Sen. FERNANDEZ -- read twice and ordered printed, and when
          printed to be committed to the Committee on Finance

        AN ACT to amend the state finance law, in relation to interest earned on
          the statewide opioid settlement agreement money

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. Subdivision 4 of section 99-nn of the state finance law, as
     2  amended by chapter 171 of the laws  of  2022,  is  amended  to  read  as
     3  follows:
     4    4. Notwithstanding subdivision eleven of section four of this chapter,
     5  such  fund  shall consist of money received by the state pursuant to any
     6  statewide opioid settlement agreements, INCLUDING ANY INTEREST EARNED ON
     7  SUCH MONEY, as defined in section 25.18 of the mental hygiene  law.  All
     8  moneys shall remain in such fund unless and until directed by statute or
     9  appropriation.
    10    § 2. This act shall take effect immediately.







         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14836-01-6