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NY A06008
Bill
Status
2/25/2025
Primary Sponsor
Judy Griffin
Click for details
AI Summary
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Temporarily increases the surplus fund cap for school districts from 4% to 8% of the current school year budget for the 2024-2025 through 2028-2029 school years
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Allows school districts to retain double the current amount of unexpended operating funds before being required to apply excess funds to reduce the school tax levy
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Maintains existing exclusions for funds properly retained under other sections of law from the surplus fund calculation
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Expires and is automatically repealed on July 1, 2029, returning the surplus fund cap to 4%
Legislative Description
Relates to the amount of surplus funds which may be retained by a school district; establishes surplus funds for the 2024-2025 school year through the 2028-2029 school year shall mean any operating funds in excess of 8% of the current school year budget.
Last Action
referred to education
1/7/2026