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NY A00304
Bill
Status
1/4/2023
Primary Sponsor
Amy Paulin
Click for details
AI Summary
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Amends the Real Property Tax Law to temporarily increase the surplus funds threshold for school districts from 4 percent to 5 percent of the current school year budget for the 2024-2025, 2025-2026, and 2026-2027 school years.
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Surplus funds in excess of the applicable threshold must be applied in determining the amount of the school tax levy, as stated in the warrant by the collecting officer.
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Reverts to the standard 4 percent threshold for the 2008-2009 school year and thereafter, once the temporary 5 percent threshold expires.
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Makes a technical correction to change "his" to "his or her" in references to taxpayers on the school tax roll.
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Takes effect immediately upon enactment.
Legislative Description
Provides that for the two thousand twenty-four--two thousand twenty-five school year, the two thousand twenty-five--two thousand twenty-six school year, and the two thousand twenty-six--two thousand twenty-seven school year, surplus funds as used in this subdivision shall mean any operating funds in excess of five percent of the current school year budget, and shall not include funds properly retained under other sections of law.
Last Action
referred to real property taxation
1/3/2024