S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9988
 
                           I N  A S S E M B L Y
 
                              April 29, 2022
                                ___________
 
 Introduced by M. of A. McDONALD -- read once and referred to the Commit-
   tee on Education
 
             CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY
 
 proposing an amendment to section 4 of article 8 of the constitution, in
   relation to limitations on local indebtedness
 
   Section  1. Resolved (if the Senate concur), That section 4 of article
 8 of the constitution be amended to read as follows:
   § 4. Except as otherwise provided in  this  constitution,  no  county,
 city,  town[,] OR village [or school district] described in this section
 shall be allowed to contract indebtedness for  any  purpose  or  in  any
 manner  which,  including  existing indebtedness, shall exceed an amount
 equal to the following percentages of  the  average  full  valuation  of
 taxable  real estate of such county, city, town[,] OR village [or school
 district]:
   (a) the county of Nassau, for county purposes, ten per centum;
   (b) any county, other than the county of Nassau, for county  purposes,
 seven per centum;
   (c) the city of New York, for city purposes, ten per centum;
   (d)  any  city,  other  than  the city of New York, having one hundred
 twenty-five thousand or more inhabitants according to the latest federal
 census, for city purposes, nine per centum;
   (e) any city having less than one hundred twenty-five thousand  inhab-
 itants  according  to  the  latest  federal  census,  for city purposes,
 [excluding education purposes,] seven per centum;
   (f) any town, for town purposes, seven per centum; AND
   (g) any village for village purposes, seven per centum[; and
   (h) any school district which is coterminous with, or  partly  within,
 or  wholly within, a city having less than one hundred twenty-five thou-
 sand inhabitants according to the latest federal census,  for  education
 purposes,  five  per centum; provided, however, that such limitation may
 be increased in  relation  to  indebtedness  for  specified  objects  or
 purposes  with (1) the approving vote of sixty per centum or more of the
 duly qualified voters of such school district voting  on  a  proposition
 therefor  submitted at a general or special election, (2) the consent of
 The Regents of the University of the State  of  New  York  and  (3)  the

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD89189-01-2
 A. 9988                             2

 consent of the state comptroller. The legislature shall prescribe by law
 the qualifications for voting at any such election].
   Except  as  otherwise  provided in this constitution, any indebtedness
 contracted in excess of the respective limitations  prescribed  in  this
 section shall be void.
   [In  ascertaining  the  power of any city having less than one hundred
 twenty-five thousand inhabitants according to the latest federal  census
 to  contract  indebtedness,  indebtedness  heretofore contracted by such
 city for education purposes shall  be  excluded.  Such  indebtedness  so
 excluded  shall  be  included  in  ascertaining  the  power  of a school
 district which is coterminous with, or partly within, or wholly  within,
 such  city  to contract indebtedness. The legislature shall prescribe by
 law the manner by which the amount of such indebtedness shall be  deter-
 mined  and  allocated  among such school districts. Such law may provide
 that such determinations and allocations shall be conclusive if made  or
 approved by the state comptroller.
   In  ascertaining  the  power  of  a  school district described in this
 section to contract indebtedness, certificates  or  other  evidences  of
 indebtedness  described  in  paragraph A of section five of this article
 shall be excluded.]
   The average full valuation of taxable real estate of any such  county,
 city, town[,] OR village [or school district] shall be determined in the
 manner prescribed in section ten of this article.
   Nothing  contained  in  this  section  shall be deemed to restrict the
 powers granted to the legislature by other provisions of this  constitu-
 tion  to  further  restrict  the  powers of any county, city, town[,] OR
 village [or school district] to contract indebtedness.
   § 2. Resolved (if the Senate concur), That the foregoing amendment  be
 submitted  to the people for approval at the general election to be held
 in the year 2023 in accordance with the provisions of the election law.