ropriations for capital construction projects, regardless of fund source. (It should not be confused with the Capital Projects Fund or the Federal Capital Projects Fund).
Debt Service. This category includes all appropriations for tax-financed State debt service on long-term debt; contractual-obligation and lease-purchase arrangements with several public authorities and municipalities; and lease-purchase payments for State university, health and mental hygiene facilities, and for various highway projects (construction, reconstruction, reconditioning and preservation projects undertaken through contractual agreements with public authorities). This also includes appropriations for interest rate exchange and similar agreements (Appropirations and expenditures, 2003).
It is within these general categories that all budgetary items appearing in the New York State Exeuctive Budget must be positioned.
The funds made available through the Executive Budget are generated by various taxation instruments. Levin (2002) identified these instruments as including franchise taxes on transportation and tranmission corporations and associations, metropolitan business surcharges, property and income taxes, franchise taxes on other business entities, privilige taxes, luxury taxes, estate taxes, sales and compensating use taxes, real estate sales taxes, transfer taxes, and gift taxes. Both personal income and business income are subject to New York State taxation, as are a wide range and variety of products and services.
Levin (2002) stated that in 2002, the State offered an amnesty program allowing either delayed or reduced payment of some of these taxes in order to spur economic recovery from the September 11, 2001, terrorist attack against America. However, in general, the Excutive Budget of New York State depends for its funding on the availability of tax revenues and the capacity of the State (and willingness of the State Leg...