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NY S02052
Bill
Status
1/15/2025
Primary Sponsor
Lea Webb
Click for details
AI Summary
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Increases the allowable unexpended surplus funds that school districts may retain from 4% to 6% of the current school year budget, effective for the 2027-2028 school year and thereafter
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Maintains the existing 4% surplus fund limit for school years from 2008-2009 through the 2027-2028 school year
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Surplus funds exceeding the applicable percentage must be applied to reduce the school tax levy
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Funds properly retained under other sections of law are excluded from the surplus fund calculation
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Takes effect 120 days after becoming law
Legislative Description
Relates to school district unexpended surplus funds; provides that for the 2027--2028 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 LOCAL GOVERNMENT
1/7/2026