BILL NUMBER: S4085
SPONSOR: PARKER
 
TITLE OF BILL:
An act to amend the state finance law, in relation to providing funding
for the universal basic income pilot program; establishing the universal
basic income pilot program; making an appropriation therefor; and
providing for the repeal of such provisions upon expiration thereof
 
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to prevent or reduce poverty amongst the
citizens of New York and increase equality.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1: Universal basic income pilot program. Notwithstanding any
law, rule or regulation to the contrary, the state comptroller, no later
than January 1, 2025, shall establish and implement a two-year pilot
program to demonstrate the economic impacts and state-level cost savings
of a universal basic income.
Section 2: Subdivision 7 of section 92-b of the state finance law, as
added by section 10 of part SS-1 of chapter 57 of the laws of 2008, is
amended.
Section 3: The sum of two hundred eighty-eight million ($288,000,000),or
so much thereof as may be necessary, is hereby appropriated to the state
comptroller, fifty percent out of any moneys in the state treasury in
the general fund to the credit of the universal basic income pilot
program, not otherwise appropriated, and fifty percent out of the moneys
in the stock transfer tax fund to the credit of the universal basic
income pilot program, and made immediately available, for the purpose of
carrying out the provisions of this act. Such moneys shall be payable on
the audit and warrant of the comptroller on vouchers certified or
approved by the comptroller in the manner prescribed by law.
Section 4: The effective date
 
JUSTIFICATION:
To ward off a potential unprecedented financial crisis in the future
amongst New York State residents, a Universal Basic Income (UBI) will
eventually need to be implemented. Jobs are being automated, the cost of
living is rising, and the stress of trying to financially care for one's
family is taking its toll on the mental health of New Yorkers. Right
now over $500,000 residents of NYS receive some form of public assist-
ance funding. Implementing a UBI program would incentivize New Yorkers
to continue working or find work. Currently they are penalized and often
lose
 
LEGISLATIVE HISTORY:
2021-22:S6552 - Referred to Finance
2019-20: S6696 - Referred to Finance
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect immediately and shall expire and be deemed
repealed five years after such date.

Statutes affected:
S4085: 92-b state finance law, 92-b(7) state finance law