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NY S08406

Bill

Official Source

Status

Introduced

6/28/2010

Primary Sponsor

Rules

Click for details

Origin

Senate

2009-2010 General Assembly

AI Summary

  • Amends Section 25-b of the 2010 Contracts for Excellence law to modify how school districts must use gap elimination adjustment offset funds in the 2010-2011 school year
  • Requires school districts (excluding those identified in Section 25-A) to apply offset amounts solely to reduce the district property tax levy
  • Prohibits school districts from adding offset funds to proposed or enacted budgets, depositing them in reserve funds, or retaining them in unreserved fund balance after tax levy
  • Eliminates the previous provision allowing districts to use up to 50 percent of offset funds for property tax reduction and the remaining amount for maintaining educational programming
  • Takes effect immediately upon enactment

Legislative Description

Enacts a chapter amendment making certain technical corrections to the education law relating to contracts for excellence, in relation to gap elimination adjustment offset.

Last Action

COMMITTEE DISCHARGED AND COMMITTED TO FINANCE

8/3/2010

Committee Referrals

Finance8/3/2010
Rules6/28/2010

Full Bill Text

No bill text available