NY A08750

Extends the maximum lease term for zero-emission school buses from 8 years to 12 years for school districts, when authorized by a vote of qualified voters

Applies to leases by both boards of trustees (section 1604) and boards of education (section 1709) for vehicles used to transport students

Adjusts the state aid amortization calculation so that when a district enters into a lease agreement longer than 8 years, the assumed amortization period matches the actual lease length

Standard school bus leases remain limited to 5 years maximum with voter approval, or 1 year without voter approval

Takes effect on the same date as Chapter 563 of the Laws of 2024, which established the original 8-year lease term for zero-emission buses