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NY A02840
Bill
Status
Introduced
1/18/2013
Primary Sponsor
Keith Wright
Click for details
AI Summary
- Reduces stock transfer tax rebates from 100 percent to 93.75 percent for transactions occurring on or after October 1, 2013
- Creates the Children's Ounce of Prevention Fund, jointly administered by the Commissioners of Taxation and Finance and Education
- Directs fund revenues to school districts receiving extraordinary needs aid to support programs improving student achievement, teacher professional development, innovative educational practices, and class size reduction
- Establishes fund to receive surplus revenues from the stock transfer tax after allocations to the Municipal Assistance Corporation and stock transfer incentive fund
- Takes effect September 1, 2013
Legislative Description
Establishes the children's ounce of prevention fund from revenues received through the stock transfer tax; decreases percentage of tax rebate currently allowed in order to fund programs relating to achievement of new high learning standards.
Last Action
held for consideration in ways and means
6/17/2014
Committee Referrals
Ways and Means1/18/2013
Full Bill Text
No bill text available