S T A T E   O F   N E W   Y O R K
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                                  1025

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced  by  M.  of A. GUNTHER, HOOPER, CROUCH, TENNEY -- Multi-Spon-
  sored by -- M. of A.  GIGLIO, LOPEZ, McLAUGHLIN, RIVERA, STECK -- read
  once and referred to the Committee on Education

AN ACT to amend the education law,  in  relation  to  exempting  certain
  consolidated school districts from provisions of law requiring re-com-
  putation  upon sale of building aid for projects for the construction,
  acquisition, reconstruction, rehabilitation or improvement  of  school
  buildings

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subparagraph 8 of paragraph e of subdivision 6  of  section
3602  of  the education law, as added by section 31 of part A of chapter
58 of the laws of 2011, is amended to read as follows:
  (8) Notwithstanding any other provision of the law  to  the  contrary,
AND  UNLESS THE DISTRICT WAS FORMED AS A RESULT OF A CONSOLIDATION OF AT
LEAST TWO SCHOOL DISTRICTS IN THE PAST FIFTEEN YEARS, where, during  the
period   of   assumed   amortization  relating  to  a  project  for  the
construction, acquisition, reconstruction, rehabilitation or improvement
of a school building, the school building is sold or ownership is other-
wise transferred to an entity other than the school district or city and
such transfer results in the building no longer being  operated  by  the
school  district  as a public elementary or secondary school that is not
independent or autonomous, the district shall, within sixty days of  the
transfer of ownership, notify the commissioner of such sale or transfer,
and shall provide such additional information about the sale or transfer
as the commissioner may require, in a form prescribed by the commission-
er,  and  the  commissioner  shall  re-compute the building aid, if any,
payable for such project pursuant to this subparagraph,  except  to  the
extent such re-computation would conflict with the provisions of section
twenty-seven  hundred  ninety-nine-tt of the public authorities law. The
commissioner shall deduct the revenues received by the  school  district

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00995-01-5
              

A. 1025                             2

or  city  as  a  result of such sale or transfer from the approved total
project cost and, based on such adjusted project cost, establish  a  new
assumed  amortization for the remaining useful life of the project under
the applicable provisions of this paragraph.
  S 2. This act shall take effect immediately.