STATE FINANCE-SPENDING LIMIT

Amends the State Finance Act. Provides that a State agency shall not create or implement a new program, nor make any expenditure or obligation of public funds with respect to a new program, without having a one-time certificate to proceed with that new program issued by the Comptroller. Provides that the Comptroller shall issue a certificate to proceed unless, at the time of the proposed creation, implementation, or expenditure, the State has a significant backlog of overdue bills. Provides for a waiver in the case of emergency. Does not bar recovery by a person, acting in good faith, to whom a State agency has incurred an obligation or liability in violation of the certificate requirement. Effective immediately.