NY A06827

Amends Education Law section 3602 to establish special multi-year cost allowances for building aid calculations for the Mount Vernon City School District

Applies to up to four new construction projects authorized under a March 7, 2017 bond proposal approved by district voters

Allows multi-year cost allowances to be established and utilized twice during the first five-year period for each project

Prohibits subsequent multi-year cost allowances from being established sooner than ten years after the first maximum cost allowance is authorized

Takes effect immediately upon passage