Assembly Bill A5142B

Signed By Governor
2023-2024 Legislative Session

Establishes the power plant tax assessment reserve fund

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor

  • 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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Bill Amendments

co-Sponsors

2023-A5142 - Details

See Senate Version of this Bill:
S7253
Law Section:
Education Law
Versions Introduced in 2021-2022 Legislative Session:
A10233, S9053

2023-A5142 - Summary

Establishes the power plant tax assessment 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.

2023-A5142 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5142
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 2, 2023
                                ___________
 
 Introduced by M. of A. E. BROWN -- read once and referred to the Commit-
   tee on Education
 
 AN  ACT  to  amend  the  education  law, in relation to establishing the
   Island Park 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. ISLAND PARK 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 ISLAND PARK UNION FREE SCHOOL DISTRICT.
   (B)  "ISLAND  PARK  LIPA  POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE
 FUND" OR "FUND" SHALL MEAN THE ISLAND PARK LIPA POWER PLANT TAX  ASSESS-
 MENT CHALLENGE RESERVE FUND  ESTABLISHED  PURSUANT  TO THIS SECTION.
   (C)   "SCHOOL   DISTRICT"   OR  "DISTRICT"  SHALL MEAN THE ISLAND PARK
 UNION FREE SCHOOL DISTRICT.
   2. THE BOARD OF EDUCATION IS HEREBY AUTHORIZED TO ESTABLISH AN  ISLAND
 PARK  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 ISLAND PARK LIPA POWER PLANT TAX
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09707-01-3
 A. 5142                             2

co-Sponsors

2023-A5142A - Details

See Senate Version of this Bill:
S7253
Law Section:
Education Law
Versions Introduced in 2021-2022 Legislative Session:
A10233, S9053

2023-A5142A - Summary

Establishes the power plant tax assessment 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.

2023-A5142A - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5142--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 2, 2023
                                ___________
 
 Introduced  by  M.  of A. E. BROWN, DeSTEFANO, K. BROWN -- read once and
   referred to the Committee on Education -- committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT relating to establishing the Island Park  LIPA  power  plant  tax
   assessment reserve fund

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Legislative findings. The legislature  hereby  finds  that
 the  tax certiorari settlement between Nassau County and the Long Island
 Power Authority regarding the Island Park  Power  Plant  may  result  in
 instability  in  the real property tax base and the budget of the Island
 Park union free school district due to a decrease in  revenue  or  taxes
 and/or a significant shift in tax liability to the taxpayers.
   § 2. Definitions. As used in this act:
   (a) "Board of education" or "board" shall mean the board of  education
 of the Island Park union free school district.
   (b) "Power plant tax assessment reserve fund" or "fund" shall mean the
 power  plant tax assessment reserve fund  established  pursuant  to this
 act.
   (c)  "School  district"  or  "district"   shall mean the  Island  Park
 union free school district.
   §  3.  Power plant tax assessment reserve fund. The board of education
 is hereby authorized to establish a power plant tax  assessment  reserve
 fund  to lessen or prevent increases in the school district's real prop-
 erty 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09707-02-3

co-Sponsors

2023-A5142B (ACTIVE) - Details

See Senate Version of this Bill:
S7253
Law Section:
Education Law
Versions Introduced in 2021-2022 Legislative Session:
A10233, S9053

2023-A5142B (ACTIVE) - Summary

Establishes the power plant tax assessment 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.

2023-A5142B (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5142--B
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 2, 2023
                                ___________
 
 Introduced  by  M.  of A. E. BROWN, DeSTEFANO, K. BROWN -- read once and
   referred to the Committee on Education -- committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee -- again reported from said  committee  with  amendments,  ordered
   reprinted as amended and recommitted to said committee

 AN  ACT  relating  to  establishing the Island Park LIPA power plant tax
   assessment reserve fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    Legislative findings. The legislature hereby finds that
 the tax certiorari settlement between Nassau County and the Long  Island
 Power  Authority  regarding  the  Island  Park Power Plant may result in
 instability in the real property tax base and the budget of  the  Island
 Park  union  free  school district due to a decrease in revenue or taxes
 and/or a significant shift in tax liability to the taxpayers.
   § 2. Definitions. As used in this act:
   (a) "Board of education" or "board" shall mean the board of  education
 of the Island Park union free school district.
   (b) "Power plant tax assessment reserve fund" or "fund" shall mean the
 power plant tax assessment reserve fund  established  pursuant  to  this
 act.
   (c)   "School   district"   or  "district"  shall mean the Island Park
 union free school district.
   § 3.  Power plant tax assessment reserve fund. The board of  education
 is  hereby  authorized to establish a power plant tax assessment reserve
 fund to lessen or prevent increases in the school district's real  prop-
 erty  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

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09707-03-3

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