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NY S03709
Bill
Status
Engrossed
3/19/2015
Primary Sponsor
Andrew Lanza
Click for details
AI Summary
- Establishes a real property tax levy limitation for cities with a population of one million or more, capping annual tax increases at the lesser of 1.02 (2%) or the sum of one plus the inflation factor, with a minimum floor of 1.0
- Defines "approved capital expenditures" as those associated with capital projects approved by qualified voters of the local government
- Limits "available carryover" from prior fiscal years to the lesser of unused levy authority or 1.5% of the tax levy limit for that fiscal year
- Creates framework for "capital tax levy" to support approved capital expenditures as an exception to the standard levy limitation
Legislative Description
Limits, in cities having a population of one million or more, the annual increase in real property taxes.
Last Action
referred to ways and means
6/15/2016
Committee Referrals
Ways and Means1/26/2016
Rules1/25/2016
Cities1/6/2016
Ways and Means3/19/2015
Cities2/17/2015
Full Bill Text
No bill text available