Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 11, 2016 |
held for consideration in education |
Jan 06, 2016 |
referred to education |
Jan 27, 2015 |
referred to education |
Assembly Bill A3814
2015-2016 Legislative Session
Sponsored By
TENNEY
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Gary Finch
Kenneth Blankenbush
2015-A3814 (ACTIVE) - Details
2015-A3814 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3814 2015-2016 Regular Sessions I N A S S E M B L Y January 27, 2015 ___________ Introduced by M. of A. TENNEY, FINCH, BLANKENBUSH -- read once and referred to the Committee on Education AN ACT to amend the education law, in relation to wealth ratio adjust- ments for school districts with higher than average assessed value holdings of real property exempt from taxation under the real property tax law THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 3602 of the education law is amended by adding a new paragraph a-1 to read as follows: A-1. WEALTH RATIO ADJUSTMENT FORMULA FOR SCHOOL DISTRICTS WHICH CONTAIN NOT-FOR-PROFIT CORPORATIONS IN EXCESS OF THE STATE AVERAGE. (1) AS USED IN THIS SECTION THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: "NOT-FOR-PROFIT CORPORATION" SHALL MEAN ANY ENTITY EXEMPT FROM REAL PROPERTY TAXES UNDER THE REAL PROPERTY TAX LAW. (2) "STATE AVERAGE" SHALL MEAN THE AVERAGE ASSESSED VALUE OF PROPERTY OWNED BY NOT-FOR-PRO- FIT-CORPORATIONS THROUGHOUT THE STATE. (3) "WEALTH RATIO" SHALL INCLUDE THE COMBINED WEALTH RATIO AND THE COMBINED WEALTH RATIO FOR FOUNDATION AID AS DEFINED IN THIS ARTICLE. THE COMMISSIONER SHALL DEVELOP AND IMPLEMENT AN ADJUSTMENT TO THE WEALTH RATIO FORMULA FOR SCHOOL DISTRICTS WHICH CONTAIN NON-PROFIT CORPORATIONS IN EXCESS OF THE STATE AVERAGE. SUCH FORMULA SHALL ADJUST THE WEALTH RATIO DOWNWARD BY A PERCENTAGE OR PORTION OF A PERCENTAGE, BASED UPON THE PERCENT OF NON-TAXABLE PROPER- TIES OWNED BY NOT-FOR-PROFIT CORPORATIONS LOCATED IN THE SCHOOL DISTRICT, WHICH EXCEED THE STATE AVERAGE. THE GOAL OF SUCH ADJUSTMENT IS TO KEEP SCHOOL DISTRICTS WHOLE WHEN LOCAL INCOMES ARE STRONG, BUT THERE IS A CONCENTRATION OF NOT-FOR-PROFIT CORPORATIONS EXEMPT FROM REAL PROP- ERTY TAXES UNDER THE REAL PROPERTY TAX LAW. S 2. This act shall take effect on the three hundred sixty-fifth day after it shall have become a law, provided, however that the commission- er of education shall have the authority to promulgate any rules neces- sary for the implementation of this act on or before such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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