Senate Bill S9054

2021-2022 Legislative Session

Establishes the Oceanside LIPA power plant tax assessment challenge reserve fund

download bill text pdf

Sponsored By

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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2021-S9054 (ACTIVE) - Details

See Assembly Version of this Bill:
A10206
Current Committee:
Assembly Education
Law Section:
Education Law
Laws Affected:
Add §3654, Ed L

2021-S9054 (ACTIVE) - Summary

Establishes the Oceanside LIPA power plant tax assessment challenge reserve fund to reserve against, lessen or prevent increases in the school district's real property tax levy and/or tax rate resulting from decreases in revenue or taxes or a significant shift in tax liability due to a tax certiorari settlement or judgment; defines terms; makes related provisions.

2021-S9054 (ACTIVE) - Sponsor Memo

2021-S9054 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9054
 
                             I N  S E N A T E
 
                                May 5, 2022
                                ___________
 
 Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Education
 
 AN ACT to amend the education  law,  in  relation  to  establishing  the
   Oceanside LIPA power plant tax assessment challenge reserve fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The education law is amended by adding a new  section  3654
 to read as follows:
   §  3654.  OCEANSIDE  LIPA POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE
 FUND. 1. DEFINITIONS. AS USED IN THIS SECTION:
   (A) "BOARD OF EDUCATION" OR "BOARD" SHALL MEAN THE BOARD OF  EDUCATION
 OF THE OCEANSIDE UNION FREE SCHOOL DISTRICT.
   (B)   "OCEANSIDE LIPA POWER PLANT  TAX  ASSESSMENT  CHALLENGE  RESERVE
 FUND" OR "FUND" SHALL MEAN THE OCEANSIDE LIPA POWER PLANT TAX ASSESSMENT
 CHALLENGE RESERVE FUND  ESTABLISHED  PURSUANT  TO THIS SECTION
   (C)   "SCHOOL   DISTRICT"   OR   "DISTRICT"   SHALL MEAN THE OCEANSIDE
 UNION FREE SCHOOL DISTRICT.
   2. THE BOARD OF EDUCATION IS HEREBY AUTHORIZED TO ESTABLISH  A  OCEAN-
 SIDE  LIPA  POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE FUND TO RESERVE
 AGAINST, OR LESSEN OR PREVENT INCREASES  IN THE SCHOOL  DISTRICT'S  REAL
 PROPERTY TAX LEVY AND/OR TAX RATE RESULTING FROM DECREASES IN REVENUE OR
 TAXES  OR  A  SIGNIFICANT SHIFT IN TAX LIABILITY DUE TO A TAX CERTIORARI
 SETTLEMENT OR JUDGMENT PROVIDED, HOWEVER, THAT NO  SUCH  FUND  SHALL  BE
 ESTABLISHED UNLESS APPROVED BY A MAJORITY VOTE OF THE VOTERS PRESENT AND
 VOTING  ON  A  SEPARATE  BALLOT PROPOSITION THEREFOR AT EITHER A SPECIAL
 DISTRICT MEETING WHICH THE BOARD OF EDUCATION MAY CALL FOR SUCH  PURPOSE
 OR  AT  THE  ANNUAL  DISTRICT  MEETING  AND  ELECTION, TO BE NOTICED AND
 CONDUCTED IN EITHER CASE IN ACCORDANCE WITH ARTICLE  FORTY-ONE  OF  THIS
 CHAPTER. SUCH SEPARATE PROPOSITION SHALL SET FORTH THE MAXIMUM ALLOWABLE
 BALANCE  TO  BE DEPOSITED AND HELD IN THE OCEANSIDE LIPA POWER PLANT TAX
 ASSESSMENT CHALLENGE RESERVE FUND. MONEYS SHALL BE PAID INTO  AND  WITH-
 DRAWN FROM THE FUND AND THE FUND SHALL BE ADMINISTERED AS FOLLOWS:
   (A)  THE  BOARD  OF EDUCATION IS HEREBY AUTHORIZED TO RECEIVE PAYMENTS
 INTO  ITS  OCEANSIDE  LIPA  POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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