|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to local government|
returned to senate
died in assembly
|Jun 15, 2011||referred to ways and means|
delivered to assembly
|May 17, 2011||advanced to third reading|
|May 16, 2011||2nd report cal.|
|May 11, 2011||1st report cal.625|
|Jan 21, 2011||referred to local government|
senate Bill S2446
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2446 - Details
S2446 - Summary
Authorizes tax increment bonds payable from real property taxes levied by a school district within a blighted project area.
S2446 - Sponsor Memo
BILL NUMBER:S2446 TITLE OF BILL: An act to amend the general municipal law, in relation to the municipal redevelopment law authorizing tax increment bonds payable from and secured by real property taxes levied by a school district within a project area PURPOSE OF THE BILL: The purpose of the bill is to include a school district's real estate taxes in the allocation of taxes available to pay bonds authorized and issued under the Municipal Redevelopment Law (MRL), to expand the purposes for which proceeds of such bonds may be applied, provide alternative sources for payment of tax increment finance (TIF) bonds, and to clarify the process of allocation of taxes. SUMMARY OF SPECIFIC PROVISIONS: § 1- Includes findings and determinations that sound development and redevelopment of blighted areas increases public school enrollment by providing affordable housing and employment opportunities and the need for expanded public education facilities and services.
S2446 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2446 2011-2012 Regular Sessions I N S E N A T E January 21, 2011 ___________ Introduced by Sen. YOUNG -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to the municipal redevelopment law authorizing tax increment bonds payable from and secured by real property taxes levied by a school district within a project area THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The first undesignated paragraph of section 970-b of the general municipal law, as added by chapter 916 of the laws of 1984 and such section as renumbered by chapter 686 of the laws of 1986, is amended and a new fourth undesignated paragraph is added to read as follows: It is hereby found and declared that there exists in many communities blighted areas which threaten the economic and social well-being of the people of the state. Blighted areas are characterized by one or more of the conditions set forth in subdivision (a) of section nine hundred [sixty-c] SEVENTY-C of this article. IT IS FURTHER FOUND AND DECLARED THAT SOUND DEVELOPMENT AND REDEVELOP- MENT OF BLIGHTED AREAS INCREASES PUBLIC SCHOOL ENROLLMENT BY PROVIDING AFFORDABLE HOUSING AND EMPLOYMENT OPPORTUNITIES AND THE NEED FOR EXPANDED PUBLIC EDUCATION FACILITIES AND SERVICES. S 2. Subdivisions (b) and (f) of section 970-c of the general munici- pal law, as added by chapter 916 of the laws of 1984 and such section as renumbered by chapter 686 of the laws of 1986, are amended and a new subdivision (i) is added to read as follows: (b) "Legislative body" means (I) the governing body of a municipality empowered to adopt and amend local laws and ordinances[; provided, however, that in the case of the city of New York, the legislative body shall, for the purposes of this article be the board of estimate], AND (II) THE BOARD OF EDUCATION OF A SCHOOL DISTRICT OF WHICH CONSENTS TO AN EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08033-01-1
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