Assembly Bill A351

2025-2026 Legislative Session

Relates to surplus funds

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Sponsored By

Current 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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2025-A351 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1318, RPT L
Versions Introduced in Other Legislative Sessions:
2019-2020: A10549
2021-2022: A3498
2023-2024: A304

2025-A351 (ACTIVE) - Summary

Provides that for the two thousand twenty-six--two thousand twenty-seven school year, the two thousand twenty-seven--two thousand twenty-eight school year, and the two thousand twenty-eight--two thousand twenty-nine school year, surplus funds as used in this subdivision shall mean any operating funds in excess of five percent of the current school year budget, and shall not include funds properly retained under other sections of law.

2025-A351 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    351
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  M.  of  A. PAULIN, OTIS -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to surplus funds
 
   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; PROVIDED HOWEVER,
 THAT FOR THE TWO THOUSAND TWENTY-SIX--TWO THOUSAND  TWENTY-SEVEN  SCHOOL
 YEAR,  THE  TWO  THOUSAND TWENTY-SEVEN--TWO THOUSAND TWENTY-EIGHT SCHOOL
 YEAR, AND THE TWO THOUSAND TWENTY-EIGHT--TWO THOUSAND TWENTY-NINE SCHOOL
 YEAR, SURPLUS  FUNDS  AS USED  IN   THIS   SUBDIVISION   SHALL MEAN  ANY
 OPERATING  FUNDS  IN  EXCESS  OF FIVE PERCENT OF THE CURRENT SCHOOL YEAR
 BUDGET, AND  SHALL  NOT  INCLUDE FUNDS   PROPERLY RETAINED  UNDER  OTHER
 SECTIONS  OF  LAW.  For the two thousand 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. Such warrant shall have the same force and effect as  a
 warrant  issued  by  a board of supervisors to a collecting officer in a
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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