NY A09431

Reduces state reimbursements to social services districts for medical assistance expenditures by 10% in 2024, increasing by 10% increments annually until reaching 100% reduction by 2033, with eliminations continuing thereafter.

Requires all savings from these reimbursement reductions to be used for property tax levy reductions or property tax rebates in local governments' subsequent fiscal years, effective starting in 2025 fiscal year for 2024 savings.

Applies only to local governments defined by section 3-c of the general municipal law and section 2023-a of the education law.

Requires counties using sales tax intercept methodology to receive proportionate reductions in sales tax intercepts and use recaptured funds for property tax reductions.

Directs the state comptroller to determine the minimum amount of annual property tax levy reductions and transmit this information to each local government 180 days before the applicable fiscal year begins.