S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1469
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2025
                                ___________
 
 Introduced  by  Sen.  STEC  --  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  excluding  the  valu-
   ation  of state forest preserve lands, within the Adirondack and Cats-
   kill parks, from the definition of "actual valuation" for purposes  of
   apportionment of state moneys to school districts
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph c of subdivision 1 of section 3602 of the  educa-
 tion law, as amended by section 5 of part A of chapter 56 of the laws of
 2023, is amended to read as follows:
   c. "Actual valuation" shall mean the valuation of taxable real proper-
 ty  in  a  school  district obtained by taking the assessed valuation of
 taxable real property within  such  district  as  it  appears  upon  the
 assessment  roll  of  the  town,  city, village, or county in which such
 property is located, for the calendar year two years prior to the calen-
 dar year in which the base year commenced, after revision as provided by
 law, plus any assessed valuation that was exempted from taxation  pursu-
 ant  to  the class one reassessment exemption authorized by section four
 hundred eighty-five-u of the real property tax law  or  the  residential
 revaluation  exemption  authorized by section four hundred eighty-five-v
 of such law as added by chapter five hundred sixty of the  laws  of  two
 thousand  twenty-one,  and dividing it by the state equalization rate as
 determined by the commissioner of taxation and finance, for the  assess-
 ment  roll  of such town, city, village, or county completed during such
 preceding calendar year; PROVIDED, HOWEVER, THAT THE ACTUAL VALUATION OF
 A SCHOOL DISTRICT SHALL NOT INCLUDE THE VALUATION OF ANY  REAL  PROPERTY
 WITHIN  A STATE FOREST PRESERVE THAT IS EITHER IN THE ADIRONDACK PARK OR
 THE CATSKILL PARK.  The  actual  valuation  of  a  central  high  school
 district shall be the sum of such valuations of its component districts.
 Such  actual  valuation shall include any actual valuation equivalent of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04505-01-5
              

 S. 1469                             2
 
 payments in lieu of taxes determined pursuant to  section  four  hundred
 eighty-five  of  the  real property tax law. "Selected actual valuation"
 shall mean the lesser of actual valuation calculated for aid payable  in
 the  current year or the two-year average of the actual valuation calcu-
 lated for aid payable in the  current  year  and  the  actual  valuation
 calculated for aid payable in the base year.
   §  2. This act shall take effect on the first of April next succeeding
 the date on which it shall have become a law.