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NY S03367
Bill
Status
11/21/2025
Primary Sponsor
Shelley Mayer
Click for details
AI Summary
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Amends the local finance law to change the population threshold for school district debt exclusions from cities of any size to cities with 125,000 or more inhabitants based on the latest federal census
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Allows school districts outside cities with 125,000+ residents to exclude certain indebtedness when calculating their borrowing power, specifically debt covered by state apportionments for school building debt service
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Extends the debt exclusion provisions to cover bonds and bond anticipation notes for fallout shelters, up to $50 multiplied by planned shelter occupancy
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Updates debt statement requirements to apply the 125,000+ population threshold consistently across multiple sections of the local finance law
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Makes technical corrections throughout, including gender-neutral language and correcting "chapter" references to "article"
Legislative Description
Raises the exclusion of certain indebtedness of school districts other than school districts in a city with one hundred twenty-five thousand inhabitants or more according to the latest federal census.
Last Action
SIGNED CHAP.545
11/21/2025