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Senate Bill S2853

2009-2010 Legislative Session

Directs the Levittown union free school district to transfer monies from its reserve funds to the general fund for the purposes of reducing real property taxes

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Education Committee

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2009-S2853 (ACTIVE) - Details

See Assembly Version of this Bill:
A6463
Current Committee:
Senate Education
Law Section:
Education

2009-S2853 (ACTIVE) - Summary

Directs the Levittown union free school district to transfer up to twenty million dollars from its reserve funds to the general fund for the purposes of reducing real property taxes in support of such school district.

2009-S2853 (ACTIVE) - Sponsor Memo

2009-S2853 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 2853                                                  A. 6463

                       2009-2010 Regular Sessions

                      S E N A T E - A S S E M B L Y

                              March 4, 2009
                               ___________

IN  SENATE -- Introduced by Sen. HANNON -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Education

IN ASSEMBLY -- Introduced by  M.  of  A.  McDONOUGH  --  read  once  and
  referred to the Committee on Education

AN ACT to authorize the Levittown union free school district to transfer
  certain  monies from reserve funds to the general fund for the purpose
  of real property tax reduction; and providing for the repeal  of  such
  provisions upon expiration thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Notwithstanding any other provision of law, rule  or  regu-
lation  to  the  contrary,  the  Levittown union free school district is
authorized to transfer to the general fund of such school district,  for
the  sole  purpose  of real property tax reduction, not more than twenty
million dollars ($20,000,000) from the following reserve  funds:  up  to
fifteen  million  eight  hundred thousand dollars ($15,800,000) from the
employee benefit accrued liability reserve fund, and up to four  million
two  hundred  thousand  dollars ($4,200,000) from the retirement reserve
fund.
  S 2. This act shall take effect immediately and shall  expire  and  be
deemed repealed July 1, 2011.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04165-02-9

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