senate Bill S5501

Signed By Governor
2015-2016 Legislative Session

Authorizes the Ballston Spa Central School District to establish a semiconductor manufacturing tax stabilization reserve fund

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Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 20, 2015 signed chap.506
Nov 10, 2015 delivered to governor
Jun 17, 2015 returned to senate
passed assembly
ordered to third reading rules cal.476
substituted for a7622b
Jun 16, 2015 referred to ways and means
delivered to assembly
passed senate
Jun 11, 2015 amended on third reading 5501a
Jun 10, 2015 ordered to third reading cal.1470
committee discharged and committed to rules
May 14, 2015 referred to local government

S5501 - Details

Law Section:
General Municipal
Versions Introduced in 2013-2014 Legislative Session:
S6833A

S5501 - Summary

Authorizes the Ballston Spa Central School District to establish a semiconductor manufacturing tax stabilization reserve fund.

S5501 - Sponsor Memo

S5501 - Bill Text download pdf

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

                                  5501

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 14, 2015
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to establish  a  semiconductor  manufacturing  tax  stabilization
  reserve  fund in the Ballston Spa Central School District to lessen or
  prevent increases in the school district's real property tax levy

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

  Section 1. Legislative findings. The legislature hereby finds that the
private  development  and  ownership  of  a  semiconductor manufacturing
project or projects located  within  the  Ballston  Spa  Central  School
District may result in instability in the real property tax base and the
budgets  of  the district due to the uncertainty with the assessments of
such semiconductor manufacturing project or projects and the variability
of the payments in lieu of taxes prior to and  at  termination  of  such
payments.
  S 2. Definitions. As used in this act:
  (a)  "Board  of  education" or "board" means the board of education of
the Ballston Spa Central School District.
  (b) "Semiconductor manufacturing tax stabilization  reserve  fund"  or
"fund"  means  the semiconductor manufacturing tax stabilization reserve
fund established pursuant to this act.
  (c) "Payments in lieu of taxes" or "payments" means payments  in  lieu
of taxes receivable by the school district pursuant to contracts entered
into  in  accordance  with section 412-a of the real property tax law or
section 858 of the general municipal law on any  semiconductor  manufac-
turing  project or projects located wholly or partially within the Ball-
ston Spa Central School District.
  (d) "School district" or "district" means  the  Ballston  Spa  Central
School District.
  (e) "Semiconductor manufacturing project or projects" shall be defined
as  in  section 412-a of the real property tax law and shall include the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11059-02-5

S5501A (ACTIVE) - Details

Law Section:
General Municipal
Versions Introduced in 2013-2014 Legislative Session:
S6833A

S5501A (ACTIVE) - Summary

Authorizes the Ballston Spa Central School District to establish a semiconductor manufacturing tax stabilization reserve fund.

S5501A (ACTIVE) - Sponsor Memo

S5501A (ACTIVE) - Bill Text download pdf

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

                                 5501--A
    Cal. No. 1470

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 14, 2015
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee discharged and said bill committed to the Committee on Rules
  --  ordered to a third reading, amended and ordered reprinted, retain-
  ing its place in the order of third reading

AN ACT to establish  a  semiconductor  manufacturing  tax  stabilization
  reserve  fund in the Ballston Spa Central School District to lessen or
  prevent increases in the school district's real property tax levy

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

  Section 1. Legislative findings. The legislature hereby finds that the
private  development  and  ownership  of  a  semiconductor manufacturing
project or projects located  within  the  Ballston  Spa  Central  School
District may result in instability in the real property tax base and the
budgets  of  the district due to the uncertainty with the assessments of
such semiconductor manufacturing project or projects and the variability
of the payments in lieu of taxes prior to and  at  termination  of  such
payments.
  S 2. Definitions. As used in this act:
  (a)  "Board  of  education" or "board" means the board of education of
the Ballston Spa Central School District.
  (b) "Semiconductor manufacturing tax stabilization  reserve  fund"  or
"fund"  means  the semiconductor manufacturing tax stabilization reserve
fund established pursuant to this act.
  (c) "Payments in lieu of taxes" or "payments" means payments  in  lieu
of taxes receivable by the school district pursuant to contracts entered
into  in  accordance  with section 412-a of the real property tax law or
section 858 of the general municipal law on any  semiconductor  manufac-
turing  project or projects located wholly or partially within the Ball-
ston Spa Central School District.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11059-07-5

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