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NY A07235
Bill
Status
4/19/2011
Primary Sponsor
Fred Thiele
Click for details
AI Summary
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Amends the tax law to modify how Suffolk County allocates revenues from a one percent sales and use tax increase (imposed from June 1, 2001 through November 30, 2011)
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Requires Suffolk County to allocate one-half of net tax collections to towns and villages based on the ratio of each town or village's full property valuation to the county's total property valuation
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Maintains existing requirement that one-eighth to three-eighths of net collections be dedicated to public safety purposes
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Directs the remaining balance to be deposited in Suffolk County's general fund
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Takes effect immediately upon enactment
Legislative Description
Allocates an amount equal to one-half the net collections from taxes in Suffolk county to the towns and villages of the county of Suffolk on the basis of the ratio which the full valuation of real property in each town outside the village or village bears to the aggregate full valuation of real property.
Last Action
held for consideration in ways and means
6/19/2012