NY S01687

Creates a 43-member task force to analyze the current primary and secondary education funding system, which relies heavily on local property taxes, and recommend shifting the base funding source to state personal income taxes.

Task force membership includes five ex-officio members (commissioners of education, taxation and finance, and other officials) plus 38 appointed members from the governor, legislature, teachers unions, school boards, superintendents, and business council, with specified qualifications requiring classroom teaching experience, fiscal expertise, and parent representation.

Task force must conduct a three-year analysis including examination of regional cost factors, establishment of educational economic development zones, development of special education funding programs, and creation of an implementation strategy to transition from property tax-based to personal income tax-based school funding.

Educational economic zones are defined by variables including personal income levels, employment rates, local industry types, infrastructure costs, educational support services, and student demographics to inform equitable funding distribution.

Task force shall publish a comprehensive report with findings and recommendations to state leadership no later than three years after the act becomes law and maintain a public website with all documentation, meeting materials, and reports.