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Assembly Bill A9026

2015-2016 Legislative Session

Enacts the "two percent is two percent property tax cap act"

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Archive: Last Bill Status - In Assembly Committee

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2015-A9026 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
General Municipal Law
Laws Affected:
Amd §3-c, Gen Muni L; amd §2023-a, Ed L
Versions Introduced in 2017-2018 Legislative Session:
A3799

2015-A9026 (ACTIVE) - Summary

Enacts the "two percent is two percent property tax cap act" relating to the formula for the real property tax cap.

2015-A9026 (ACTIVE) - Bill Text download pdf 

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

                                  9026

                          I N  A S S E M B L Y

                            January 19, 2016
                               ___________

Introduced by M. of A. SCHIMEL, ARROYO, DUPREY, CAHILL, ABINANTI, DILAN,
  SOLAGES,  LUPINACCI  --  Multi-Sponsored  by -- M. of A. SIMON -- read
  once and referred to the Committee on Ways and Means

AN ACT to amend the general municipal law  and  the  education  law,  in
  relation to the formula for the real property tax cap

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

  Section 1. This act shall be known  and  may  be  cited  as  the  "two
percent is two percent property tax cap act".
  S  2.  Paragraph  (a)  of  subdivision 2 of section 3-c of the general
municipal law, as added by section 1 of part A of chapter 97 of the laws
of 2011, is amended to read as follows:
  (a) "Allowable levy growth factor" shall be [the lesser of:  (i)]  one
and  two  one-hundredths[;  or  (ii)  the  sum of one plus the inflation
factor; provided, however, that in no case shall the levy growth  factor
be less than one].
  S  3.  Paragraph a of subdivision 2 of section 2023-a of the education
law, as added by section 2 of part A of chapter 97 of the laws of  2011,
is amended to read as follows:
  a.  "Allowable  levy  growth factor" shall be [the lesser of: (i)] one
and two one-hundredths[; or (ii) the  sum  of  one  plus  the  inflation
factor;  provided, however, that in no case shall the levy growth factor
be less than one].
  S 4. This act shall take effect immediately; provided,  however,  that
the  amendments  to  section  3-c  of  the general municipal law made by
section one of this act shall not affect the repeal of such section  and
shall  be  deemed repealed therewith; provided, further, that the amend-
ments to section 2023-a of the education law made by section two of this
act shall not affect the repeal of such  section  and  shall  be  deemed
repealed therewith.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13547-01-6

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