New York Laws
Title 2 - Establishment, Management, Supervision and Financing
16-C - Amortization of a Portion of the State's Contribution Bill for Fiscal Year Ending March Thirty-First, Two Thousand Five.

(1) the state's entire bill for the fiscal year ending March
thirty-first, two thousand six, calculated pursuant to section
twenty-three-a of this article (without reference to this section), less
the "amount eligible for amortization" determined pursuant to section
sixteen-d of this article, if applicable; and
(2) the first annual installment of the "amount eligible for
amortization" determined pursuant to this section.
c. The remaining amortized payments shall be due and payable each
subsequent fiscal year during the amortization period. The comptroller
shall have the authority to permit the pre-payment of the remaining
balance of the "amount eligible for amortization," subject to the
following:
(1) on or before August first, two thousand four, in addition to
advising with respect to the amount due for the current year billing,
the comptroller shall advise the state of the total amount due and be
authorized to accept pre-payment in full of said amount for fiscal year
ending March thirty-first, two thousand five.
(2) on or before each subsequent August first during the amortization
period, in addition to the amount due for the current year billing and
for the payment of the annual amortized installment, the comptroller
shall advise the state of the total amount still outstanding and be

authorized to accept the pre-payment of any balance remaining to be paid
for that fiscal year.