§ 3609-d. Moneys apportioned for board of cooperative educational
services aidable expenditures when and how payable commencing July
first, two thousand four. Notwithstanding the provisions of section
thirty-six hundred nine-a of this article, apportionments payable
pursuant to section nineteen hundred fifty of this chapter shall be paid
pursuant to this section. For aid payable in the two thousand four--two
thousand five school year and thereafter, "moneys apportioned" shall
mean the lesser of (i) one hundred percent of the respective amount set
forth for each school district as payable pursuant to this section in
the school aid computer listing produced by the commissioner in support
of the budget including the appropriation for support of boards of
cooperative educational services for payments due prior to April first
for the current year, or (ii) the apportionment calculated by the
commissioner based on data on file at the time the payment is processed;
provided however, that for the purposes of any payment to be made in the
month of June of two thousand six such calculation shall be based on the
school aid computer listing for the current year using updated data at
the time of each payment. For districts subject to chapter five hundred
sixty-three of the laws of nineteen hundred eighty, thirty-six hundred
two-b, or two thousand forty of this chapter, for aid payable in the two
thousand four--two thousand five school year and thereafter, "moneys
apportioned" shall mean the apportionment calculated by the commissioner
based on data on file at the time the payment is processed. The "school
aid computer listing for the current year" shall be as defined in the
opening paragraph of section thirty-six hundred nine-a of this article.
The definitions "base year" and "current year" as set forth in
subdivision one of section thirty-six hundred two of this article shall
apply to this section.

1. Prescribed payments. Of the moneys to be apportioned by the
commissioner to school districts during the school year, that portion
payable pursuant to section nineteen hundred fifty of this chapter shall
be used in the first instance to make payments on behalf of boards of
cooperative educational services to the teachers' retirement system in
the same manner as payments made on behalf of school districts pursuant
to subparagraph one of paragraph a of subdivision one of section
thirty-six hundred nine-a of this article, and additional payments shall
be paid to boards of cooperative educational services as follows: the
greater of any payments made to the teachers' retirement system pursuant
to this paragraph or twenty-five percent of the moneys apportioned less
any payments made to the teachers' retirement system pursuant to this
paragraph on the first state business day of February, to the extent
that acceptable data has been filed with the commissioner; fifty-five
percent of the moneys apportioned, less the payment made in February and
less any payments made to the teachers' retirement system pursuant to
this paragraph, on the first state business day of June; and a final
apportionment equal to the amount calculated based on data on file as of
August first next following the close of the current year, provided
however, that for the September two thousand six payment such
calculation shall be based on the computer listing for the current year
using data on file as of August first, less payments made to date, on
the first state business day of September next following the close of
the current year; provided, however, that any obligation of a board of
cooperative educational services to the bond trustee of the dormitory
authority shall be paid in accordance with the applicable provisions of
the public authorities law.

2. Such moneys shall be payable to the treasurer of each board of
cooperative educational services, if there be a treasurer, otherwise to
the collector or other disbursing officer of such board of cooperative
educational services, who shall apply for and receive the same as soon
as payable.

3. Notwithstanding any inconsistent provisions of this chapter, for
aid payable in the nineteen hundred ninety-six--ninety-seven school year
the apportionment calculated pursuant to section nineteen hundred fifty
of this chapter shall be reduced by two percent.