Senate Bill S7105

2023-2024 Legislative Session

Establishes the power plant tax assessment challenge reserve fund

download bill text pdf

Sponsored By

Current Bill Status Via A6310 - Passed Senate

  • 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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2023-S7105 (ACTIVE) - Details

See Assembly Version of this Bill:
A6310
Law Section:
Education

2023-S7105 (ACTIVE) - Summary

Establishes the power plant tax assessment challenge reserve fund to prevent increases in the Northport-East Northport union free 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-S7105 (ACTIVE) - Sponsor Memo

2023-S7105 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7105
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 18, 2023
                                ___________
 
 Introduced  by  Sen. MATTERA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Education
 
 AN ACT relating to establishing the 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. Legislative findings. The legislature hereby finds that the
 tax  certiorari  settlement  between  Suffolk County and the Long Island
 Power Authority regarding the Northport Power Plant may result in insta-
 bility in the real property tax base and the budget  of  the  Northport-
 East  Northport  union free school district due to a decrease in revenue
 or taxes and/or significant shift in tax liability to the taxpayers.
   § 2. Definitions. As used in this act the following terms  shall  have
 the following meanings:
   (a)  "Board of education" or "board" shall mean the board of education
 of the Northport-East Northport 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 Northport-East
 Northport 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
 or at the annual district  meeting  and  election,  to  be  noticed  and

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06715-03-3

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