Assembly Bill A7403

2017-2018 Legislative Session

Relates to surplus funds for small schools

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A7403 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1318, RPT L
Versions Introduced in 2019-2020 Legislative Session:
A5645

2017-A7403 (ACTIVE) - Summary

Relates to surplus funds for small schools.

2017-A7403 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7403
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 25, 2017
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on Real Property Taxation
 
 AN  ACT to amend the real property tax law, in relation to surplus funds
   for small schools
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 1 of section 1318 of the real property tax law,
 as  amended  by  chapter  238 of the laws of 2007, is amended to read as
 follows:
   1. The warrant of the collecting officer shall be signed by the  trus-
 tee,  or  the trustees, or a majority of them, or the board of education
 or a majority thereof. Such warrant shall state the amount of unexpended
 surplus funds in the custody of the board and shall further  state  that
 except  as  authorized or required by law, such unexpended surplus funds
 have been applied in determining the amount of the school tax levy.  For
 the two thousand seven--two thousand eight school year, surplus funds as
 used  in  this  subdivision  shall mean any operating funds in excess of
 three percent of the current school year budget, and shall  not  include
 funds  properly  retained under other sections of law. For the two thou-
 sand eight--two thousand nine school year, and thereafter, surplus funds
 as used in this subdivision shall mean any operating funds in excess  of
 four  percent  of  the current school year budget, and shall not include
 funds  properly  retained  under  other  sections  of  law.  FOR  SCHOOL
 DISTRICTS  OF  LESS  THAN  EIGHT  TEACHERS, SCHOOL DISTRICTS WITH ACTUAL
 GENERAL FUND EXPENDITURES TOTALING LESS THAN FIVE MILLION DOLLARS IN THE
 PREVIOUS SCHOOL YEAR, OR SCHOOL DISTRICTS WITH ACTUAL ENROLLMENT OF LESS
 THAN ONE THOUSAND FIVE HUNDRED STUDENTS IN  THE  PREVIOUS  SCHOOL  YEAR,
 SURPLUS FUNDS USED IN THIS SUBDIVISION SHALL MEAN ANY OPERATING FUNDS IN
 EXCESS  OF  TEN PERCENT OF THE CURRENT SCHOOL YEAR BUDGET, AND SHALL NOT
 INCLUDE FUNDS PROPERLY  RETAINED  UNDER  OTHER  SECTIONS  OF  LAW.  Such
 warrant  shall  have  the same force and effect as a warrant issued by a
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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