NY A06715

Requires special act school districts seeking closure to submit a written closure plan to the Commissioner at least 90 days before the closing date, including provisions for safe transfer of students with disabilities and detailed lists of estimated closure expenses and revenues.

Mandates periodic financial reporting from closing school districts during the closedown period until all financial obligations are met, with the Commissioner authorized to reject unnecessary or unreasonable closure costs.

Requires special act school districts to submit annual enrollment reports, projected enrollments, proposed budgets, and financial information including revenue anticipation notes, employee benefit system balances, bonds, and lease costs to the Commissioner.

Directs the Department of Education to review submitted financial information and provide specific recommendations to improve financial standing for districts determined to be in need of financial guidance and assistance.

Takes effect immediately upon enactment.