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Assembly Bill A7424

2011-2012 Legislative Session

Directs school districts to return moneys in certain reserve funds to the residents of the school district in the form of property tax relief

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Archive: Last Bill Status - In Assembly Committee

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2011-A7424 (ACTIVE) - Details

Current Committee:
Assembly Education
Law Section:
Education Law
Laws Affected:
Amd ยง3651, Ed L
Versions Introduced in 2009-2010 Legislative Session:
A1910

2011-A7424 (ACTIVE) - Summary

Directs school districts to return moneys in certain reserve funds where there is a surplus to the residents of the school district in the form of property tax relief.

2011-A7424 (ACTIVE) - Bill Text download pdf 

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

                                  7424

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 4, 2011
                               ___________

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

AN ACT to amend the education  law,  in  relation  to  directing  school
  districts  to  return moneys in certain reserve funds to the residents
  of the school district in the form of property tax relief

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

  Section  1.  Section  3651 of the education law is amended by adding a
new subdivision 10 to read as follows:
  10. NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS SECTION,  IN  ANY
SCHOOL  DISTRICT  WHERE  A RESERVE FUND MAY BE ESTABLISHED, EXPENDITURES
MAY BE MADE THEREFROM, MONEYS MAY BE PAID INTO SUCH  FUND,  ALL  OR  ANY
PART  OF SUCH FUND MAY BE LIQUIDATED IF THERE IS A SURPLUS, ALL PURSUANT
TO THE PROVISIONS OF THIS SECTION, EXCEPT THAT ANY SUCH  ACTION  MAY  BE
AUTHORIZED  OR  TAKEN BY THE BOARD OF EDUCATION OF SUCH SCHOOL DISTRICT,
WITHOUT APPROVAL OR  AUTHORIZATION  OF  THE  QUALIFIED  VOTERS  OF  SUCH
DISTRICT; PROVIDED, HOWEVER, THAT ANY SURPLUS MONEYS LIQUIDATED SHALL BE
DISTRIBUTED  TO THE RESIDENTS OF SUCH DISTRICT IN THE FORM OF REAL PROP-
ERTY TAX RELIEF.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10688-01-1

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