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NY A04290

Bill

Official Source

Status

Introduced

1/30/2015

Primary Sponsor

Alfred Graf

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Establishes five separate education funds for New York City, Yonkers, Rochester, Buffalo, and Syracuse, each held jointly by the respective city mayor and the Commissioner of Taxation and Finance
  • Each fund collects an additional one percent tax on real property taxes across all property classes within the respective city
  • Fund revenues must be used in conjunction with city budget allocations to support education programs
  • Moneys in each fund must be kept separately and not commingled with other city funds
  • The act takes effect immediately upon enactment

Legislative Description

Establishes the city of New York education fund, the city of Yonkers education fund, the city of Rochester education fund, the city of Buffalo education fund and the city of Syracuse education fund each consisting of moneys collected from the additional imposition of one percent of real property taxes on all classes within the respective city.

Last Action

held for consideration in ways and means

6/15/2016

Committee Referrals

Ways and Means1/30/2015

Full Bill Text

No bill text available