Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to local government |
Feb 23, 2021 |
referred to local government |
Senate Bill S5069
2021-2022 Legislative Session
Sponsored By
(D, WF) 37th Senate District
Archive: Last Bill Status - In Senate Committee Local Government 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
Actions
co-Sponsors
(D, WF) 40th Senate District
(D) Senate District
2021-S5069 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6185
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §1318, RPT L
2021-S5069 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5069 SPONSOR: MAYER TITLE OF BILL: An act to amend the real property tax law, in relation to the amount of surplus funds which may be retained by a school district; and providing for the repeal of such provisions upon expiration thereof PURPOSE: This legislation would permit school districts to maintain an eight percent surplus of unrestricted funds for a period of five school years. SUMMARY OF PROVISIONS: Section 1 increases the unrestricted fund balance limit for school districts from four percent to eight percent beginning in the 2020-21 school year. Section 2 provides for the repeal of such provision on July 1, 2025.
2021-S5069 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5069 2021-2022 Regular Sessions I N S E N A T E February 23, 2021 ___________ Introduced by Sen. MAYER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to the amount of surplus funds which may be retained by a school district; and provid- ing for the repeal of such provisions upon expiration thereof 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 THE TWO THOU- SAND TWENTY--TWO THOUSAND TWENTY-ONE SCHOOL YEAR THROUGH THE TWO THOU- SAND TWENTY-FOUR--TWO THOUSAND TWENTY-FIVE SCHOOL YEAR, SURPLUS FUNDS AS USED IN THIS SUBDIVISION SHALL MEAN ANY OPERATING FUNDS IN EXCESS OF EIGHT 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 board of super- visors to a collecting officer in a town. The collecting officer to whom EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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