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NY A05124
Bill
Status
3/2/2023
Primary Sponsor
Donna Lupardo
Click for details
AI Summary
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Amends the real property tax law to change the definition of school district unexpended surplus funds for the 2025-2026 school year and thereafter from 4 percent to 6 percent of the current school year budget.
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Maintains the 4 percent threshold for surplus funds through the 2024-2025 school year, replacing the previous language that applied the 4 percent threshold "and thereafter."
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Specifies that surplus funds shall not include funds properly retained under other sections of law.
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Updates gender-neutral language in tax collection procedures from "his" to "or her."
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Takes effect 120 days after becoming law.
Legislative Description
Relates to school district unexpended surplus funds; provides that for the 2025--2026 school year and thereafter, surplus funds shall mean any operating funds in excess of six percent of the current school year budget, and shall not include funds properly retained under other sections of law.
Last Action
referred to education
1/3/2024