senate Bill S306

Authorizes a study of the fiscal impact of granting local school districts the authority to implement an income tax surcharge

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 07 / Jan / 2009
    • REFERRED TO EDUCATION
  • 06 / Jan / 2010
    • REFERRED TO EDUCATION

Summary

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Bill Details

See Assembly Version of this Bill:
A371
Versions:
S306
Legislative Cycle:
2009-2010
Current Committee:
Senate Education
Law Section:
Education

Sponsor Memo

BILL NUMBER: S306

TITLE OF BILL :

An act directing the New York State department of education, the New
York State department of taxation and finance and the state board of
real property services to study the fiscal impact of granting local
school districts authority to implement an income tax surcharge and
providing for the repeal of certain provisions upon expiration thereof


PURPOSE :

This study would give the Legislature and the public a better idea as
to the specific impacts of moving away from the property tax as the
principal means of financing education costs in favor of an income-tax
surcharge.

SUMMARY OF PROVISIONS :

The State Education Department, the State Board of Real Property
Services and the State Department Taxation and Finance would undertake
a comprehensive study documenting the fiscal implications of
authorizing the reduction of real-property taxes levied for the
purpose of funding education costs through granting local school
districts the option to implement an income-tax surcharge.

This study will consider the fiscal impacts on a broad spectrum of
incomes, as well as calculate the effects of any State income tax
reductions on tax receipts under such a surcharge. It will also
consider what level of surcharge would have to be imposed to bring
about a dramatic reduction in the property tax. This study would also
document the effects of such a change on school districts, taking into
account their relative wealth in terms of residents' income, property
tax base, level of State education funding and other relevant factors.
In addition, the study is to be designed to enable individual
taxpayers to determine the effects of any change on their income tax
and property tax liabilities.

JUSTIFICATION :

The real property tax is an inequitable and regressive form of
taxation wherein low and middle-income taxpayers pay a
disproportionate percentage of their income in property taxes. Under
such a system, ability to pay is not a factor in calculating property
tax liability. This study would give the Legislature and the public a
better ideas to the specific impacts of moving away from the property
tax as the principle means of financing education costs in favor of an
income-tax surcharge.

LEGISLATIVE HISTORY :

2007-08, S.217; 2005-06, S.96; 2003-04, S.342; 2001-02, S.2431;
1999-00, S.3130; 1997-98, S.12; 1995-96, S.3196.

FISCAL IMPLICATIONS :

None.

EFFECTIVE DATE :
This act shall take effect immediately and shall remain in effect
until the ninetieth day after submission of the report specified in
section two this act, when upon such date it shall be deemed repealed.
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