Assembly Bill A6795D

2017-2018 Legislative Session

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced

download bill text pdf

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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 06, 2018	held for consideration in education
May 01, 2018	print number 6795d
May 01, 2018	amend and recommit to education
Jan 30, 2018	print number 6795c
Jan 30, 2018	amend and recommit to education
Jan 03, 2018	referred to education
Jun 20, 2017	print number 6795b
Jun 20, 2017	amend (t) and recommit to education
Jun 15, 2017	print number 6795a
Jun 15, 2017	amend and recommit to education
Mar 17, 2017	referred to education

Bill Amendments

Original

D (Active)

2017-A6795 - Details

See Senate Version of this Bill:: S6814
Current Committee:: Assembly Education
Law Section:: Education
Versions Introduced in Other Legislative Sessions:: 2019-2020: A5797, S866, S7222
2021-2022: A8310
2023-2024: A2662
2025-2026: A5591

2017-A6795 - Summary

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced.

2017-A6795 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6795
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 17, 2017
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on Education
 
 AN  ACT  to amend the education law, in relation to authorizing the city
   school district of the city of Salamanca to establish a  reserve  fund
   for federal impact aid
 
   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 1-c to read as follows:
   1-C.  A.  NOTWITHSTANDING  THE  PROVISIONS  OF SUBDIVISION ONE OF THIS
 SECTION, THE BOARD OF EDUCATION OF THE CITY SCHOOL DISTRICT OF THE  CITY
 OF  SALAMANCA  MAY  ESTABLISH  A  RESERVE FOR FEDERAL IMPACT AID WITHOUT
 APPROVAL OF THE QUALIFIED VOTERS OF THE SCHOOL DISTRICT FOR THE  PURPOSE
 OF  TAX  STABILIZATION  IN  THE  EVENT  FEDERAL  IMPACT  AID IS REDUCED,
 PROVIDED THAT THE AMOUNT OF SUCH RESERVE SHALL NOT EXCEED THE PRODUCT OF
 1.5 AND THE TOTAL PRINCIPAL AMOUNT OF THE DISTRICT'S TOTAL REQUIRED  TAX
 LEVY  FOR SCHOOL DISTRICT FISCAL YEAR TWO THOUSAND SIXTEEN--TWO THOUSAND
 SEVENTEEN.
   B. IN THE EVENT OF REDUCTION  OR  LOSS  OF  FEDERAL  IMPACT  AID,  ANY
 INCREASE  IN THE TAX LEVY UP TO TOTAL PRINCIPAL AMOUNT OF THE DISTRICT'S
 TAX LEVY FOR SCHOOL DISTRICT FISCAL YEAR TWO THOUSAND SIXTEEN--TWO THOU-
 SAND SEVENTEEN SHALL NOT BE INCLUDED IN THE TAX LEVY  LIMIT  COMPUTATION
 UNDER SECTION TWENTY-SIX HUNDRED ONE-A OF THIS CHAPTER.
   C.  NOTWITHSTANDING  THE  PROVISIONS OF SUBDIVISIONS THREE AND FOUR OF
 THIS SECTION, SUCH SCHOOL DISTRICT MAY MAKE EXPENDITURES FROM SUCH  FUND
 FOR THE PURPOSE OF TAX STABILIZATION WITHOUT AUTHORIZATION OF THE VOTERS
 OR  MAY AUTHORIZE THE TRANSFER OF ALL OR ANY PART OF ANY RESERVE FUND TO
 ANY OTHER RESERVE FUND ESTABLISHED PURSUANT TO THIS SECTION WITHOUT SUCH
 AUTHORIZATION.
   D. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION FIVE OF THIS SECTION,
 WHENEVER THE BOARD  OF  EDUCATION  SHALL  DETERMINE  THAT  THE  ORIGINAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD10358-01-7

 A. 6795                             2
 
 PURPOSE  FOR  WHICH  A  RESERVE  FUND  HAS BEEN ESTABLISHED IS NO LONGER
 DESIRABLE, THE SCHOOL AUTHORITIES MAY LIQUIDATE SUCH  FUND  BY  APPLYING
 THE  BALANCE  THEREOF TO THE ANNUAL TAX LEVY, REGARDLESS OF THE TAX RATE
 FOR SCHOOL PURPOSES, WITHOUT AUTHORIZATION OF THE VOTERS.
   § 2. This act shall take effect immediately.

2017-A6795A - Details

See Senate Version of this Bill:: S6814
Current Committee:: Assembly Education
Law Section:: Education
Versions Introduced in Other Legislative Sessions:: 2019-2020: A5797, S866, S7222
2021-2022: A8310
2023-2024: A2662
2025-2026: A5591

2017-A6795A - Summary

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced.

2017-A6795A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6795--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 17, 2017
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on  Education -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee
 
 AN ACT to amend the education law, in relation to authorizing  the  city
   school  district  of the city of Salamanca to establish a reserve fund
   for federal impact aid
 
   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 1-c to read as follows:
   1-C. A. NOTWITHSTANDING THE PROVISIONS  OF  SUBDIVISION  ONE  OF  THIS
 SECTION,  THE BOARD OF EDUCATION OF THE CITY SCHOOL DISTRICT OF THE CITY
 OF SALAMANCA, SUBJECT TO THE PROVISIONS OF PARAGRAPH E OF THIS  SUBDIVI-
 SION,  MAY ESTABLISH A RESERVE FOR FEDERAL IMPACT AID FOR THE PURPOSE OF
 TAX STABILIZATION IN THE EVENT FEDERAL IMPACT AID IS  REDUCED,  PROVIDED
 THAT  THE AMOUNT OF SUCH RESERVE SHALL NOT EXCEED THE PRODUCT OF 1.5 AND
 THE TOTAL PRINCIPAL AMOUNT OF THE DISTRICT'S TOTAL REQUIRED TAX LEVY FOR
 SCHOOL DISTRICT FISCAL YEAR TWO THOUSAND  SIXTEEN--TWO  THOUSAND  SEVEN-
 TEEN.
   B.  IN  THE  EVENT  OF  REDUCTION  OR  LOSS OF FEDERAL IMPACT AID, ANY
 INCREASE IN THE TAX LEVY UP TO TOTAL PRINCIPAL AMOUNT OF THE  DISTRICT'S
 TAX LEVY FOR SCHOOL DISTRICT FISCAL YEAR TWO THOUSAND SIXTEEN--TWO THOU-
 SAND  SEVENTEEN  SHALL NOT BE INCLUDED IN THE TAX LEVY LIMIT COMPUTATION
 UNDER SECTION TWENTY-SIX HUNDRED ONE-A OF THIS CHAPTER.
   C. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISIONS THREE  AND  FOUR  OF
 THIS  SECTION,  SUCH  SCHOOL  DISTRICT MAY, SUBJECT TO THE PROVISIONS OF
 PARAGRAPH E OF THIS SUBDIVISION, MAKE EXPENDITURES FROM  SUCH  FUND  FOR
 THE PURPOSE OF TAX STABILIZATION OR MAY AUTHORIZE THE TRANSFER OF ALL OR
 ANY  PART  OF  ANY  RESERVE  FUND  TO ANY OTHER RESERVE FUND ESTABLISHED
 PURSUANT TO THIS SECTION WITHOUT SUCH AUTHORIZATION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10358-03-7

 A. 6795--A                          2
 
   D. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION FIVE OF THIS SECTION,
 WHENEVER THE BOARD  OF  EDUCATION  SHALL  DETERMINE  THAT  THE  ORIGINAL
 PURPOSE  FOR  WHICH  A  RESERVE  FUND  HAS BEEN ESTABLISHED IS NO LONGER
 DESIRABLE, THE SCHOOL AUTHORITIES MAY LIQUIDATE SUCH  FUND  BY  APPLYING
 THE  BALANCE  THEREOF TO THE ANNUAL TAX LEVY, REGARDLESS OF THE TAX RATE
 FOR SCHOOL PURPOSES, WITHOUT AUTHORIZATION OF THE VOTERS.
   E. SUCH BOARD SHALL ESTABLISH NO FUND PURSUANT TO PARAGRAPH A OR  MAKE
 ANY  EXPENDITURE  THEREFROM PURSUANT TO PARAGRAPH C OF THIS SUBDIVISION,
 UNLESS SUCH FUND AND EXPENDITURE IS APPROVED BY A MAJORITY VOTE  OF  THE
 VOTERS  PRESENT  AND VOTING ON A SEPARATE BALLOT PROPOSITION THEREFOR AT
 EITHER A SPECIAL DISTRICT MEETING WHICH THE BOARD OF EDUCATION MAY  CALL
 FOR  SUCH  PURPOSE OR AT THE ANNUAL DISTRICT MEETING AND ELECTION, TO BE
 NOTICED AND CONDUCTED IN EITHER CASE IN ACCORDANCE WITH  ARTICLE  FORTY-
 ONE  OF  THIS  CHAPTER.    SUCH SEPARATE PROPOSITION SHALL SET FORTH THE
 MAXIMUM ALLOWABLE BALANCE TO BE DEPOSITED AND HELD IN THE  STABILIZATION
 RESERVE FUND.
   § 2. This act shall take effect immediately.

2017-A6795B - Details

See Senate Version of this Bill:: S6814
Current Committee:: Assembly Education
Law Section:: Education
Versions Introduced in Other Legislative Sessions:: 2019-2020: A5797, S866, S7222
2021-2022: A8310
2023-2024: A2662
2025-2026: A5591

2017-A6795B - Summary

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced.

2017-A6795B - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6795--B
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 17, 2017
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on  Education -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee --  again  reported  from
   said  committee  with  amendments,  ordered  reprinted  as amended and
   recommitted to said committee

 AN ACT to authorize the board of education of the Salamanca city  school
   district  to  establish a federal impact aid reserve fund in the event
   federal impact aid is reduced
 
   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
 since certain lands are designated as exempt from taxation, specifically
 the Allegany Territory of the Seneca Nation of Indians which  is  within
 the  Salamanca  city school district, the Salamanca city school district
 receives federal  impact  aid  for  support  of  services  to  students.
 Responsible  fiscal  planning requires establishment of a federal impact
 reserve fund for the purpose of stabilizing the tax levy while maintain-
 ing educational programming and services, in the event that such aid  is
 no longer provided to such district.
   § 2. Definitions. As used in this act:
   (a)  "Board  of  education" or "board" means the board of education of
 the district.
   (b) "Federal impact aid reserve fund" or  "fund"  means  the  district
 federal  impact aid reserve fund established pursuant to this act in the
 event of reduction or loss of federal impact aid.
   (c) "School district" or "district" means the  Salamanca  city  school
 district.
   § 3. The board of education is hereby authorized to establish a feder-
 al  impact  aid reserve fund for the purpose of tax stabilization in the
 event federal impact aid is reduced provided that  the  amount  of  such
 reserve  shall  not  exceed  the  product of 1.5 and the total principal
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD10358-04-7

 A. 6795--B                          2
 
 amount of the district's total required tax  levy  for  school  district
 fiscal  year  2016-2017;  provided,  however, that no such fund shall be
 established unless approved by a majority vote  of  the  voters  of  the
 district present and voting on a separate ballot proposition therefor at
 either  a special district meeting which the board of education may call
 for such purpose or at the annual district meeting and election,  to  be
 noticed  and  conducted  in either case in accordance with article 41 of
 the education law. Such separate proposition shall set forth the maximum
 allowable balance to be deposited and held in  the  federal  impact  aid
 reserve  fund. Moneys shall be paid into and withdrawn from the fund and
 the fund shall be administered as follows:
   (a) the board of education is hereby authorized to make payments  into
 the  federal impact aid reserve fund with funds from any unassigned fund
 balance which accrued prior to the establishment of the  federal  impact
 aid reserve fund in an amount not to exceed the balance over any maximum
 allowable  balance  in such unassigned fund balance and from any reserve
 funds authorized or required by law in amounts which the board of educa-
 tion shall determine are not reasonably necessary  for  the  purpose  of
 such  fund  or  funds  and which accrued prior to the federal impact aid
 reserve fund provided that no such  payment  from  any  unassigned  fund
 balance  or  any  reserve  fund  shall  cause the balance of the fund to
 exceed the amount approved in the  ballot  proposal  described  in  this
 section;
   (b)  the  board of education shall determine that the original purpose
 for which a reserve fund has been established is  no  longer  desirable,
 the  school  authorities may liquidate such fund by applying the balance
 thereof to the annual tax levy, regardless of the tax  rate  for  school
 purposes,  without  authorization  of the voters.   Withdrawals from the
 fund shall be disclosed in a manner consistent with the required disclo-
 sures of similar reserve funds held by the district,  including  disclo-
 sures  required by the property tax report card prepared by the district
 pursuant to the provisions of subdivision  7  of  section  1716  of  the
 education  law;  and  deposits  and withdrawals made in each fiscal year
 shall be subject to the district's annual budget approval process; and
   (c) the moneys in the federal impact aid reserve fund shall be  depos-
 ited,  invested and accounted for in the manner provided for in subdivi-
 sions 2 and 6 of section 3651 and section 3652 of the education law.
   § 4. This act shall take effect immediately.

2017-A6795C - Details

See Senate Version of this Bill:: S6814
Current Committee:: Assembly Education
Law Section:: Education
Versions Introduced in Other Legislative Sessions:: 2019-2020: A5797, S866, S7222
2021-2022: A8310
2023-2024: A2662
2025-2026: A5591

2017-A6795C - Summary

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced.

2017-A6795C - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6795--C
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 17, 2017
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on  Education -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee --  again  reported  from
   said  committee  with  amendments,  ordered  reprinted  as amended and
   recommitted to said committee  --  recommitted  to  the  Committee  on
   Education  in  accordance  with  Assembly  Rule 3, sec. 2 -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to authorize the board of education of the Salamanca city  school
   district  to  establish a federal impact aid reserve fund in the event
   federal impact aid is reduced
 
   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
 since certain lands are designated as exempt from taxation, specifically
 the Allegany Territory of the Seneca Nation of Indians which  is  within
 the  Salamanca  city school district, the Salamanca city school district
 receives federal  impact  aid  for  support  of  services  to  students.
 Responsible  fiscal  planning requires establishment of a federal impact
 reserve fund for the purpose of stabilizing the tax levy while maintain-
 ing educational programming and services, in the event that such aid  is
 no longer provided to such district.
   § 2. Definitions. As used in this act:
   (a)  "Board  of  education" or "board" means the board of education of
 the district.
   (b) "Federal impact aid reserve fund" or  "fund"  means  the  district
 federal  impact aid reserve fund established pursuant to this act in the
 event of reduction or loss of federal impact aid.
   (c) "School district" or "district" means the  Salamanca  city  school
 district.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10358-09-8

 A. 6795--C                          2
 
   § 3. The board of education is hereby authorized to establish a feder-
 al  impact  aid reserve fund for the purpose of tax stabilization in the
 event federal impact aid is reduced provided that  the  amount  of  such
 reserve  shall  not  exceed  the  product of 1.5 and the total principal
 amount  of  the  district's  total required tax levy for school district
 fiscal year 2017-2018; provided, however, that no  such  fund  shall  be
 established  unless  approved  by  a  majority vote of the voters of the
 district present and voting on a separate ballot proposition therefor at
 either a special district meeting which the board of education may  call
 for  such  purpose or at the annual district meeting and election, to be
 noticed and conducted in either case in accordance with  article  41  of
 the education law. Such separate proposition shall set forth the maximum
 allowable  balance  to  be  deposited and held in the federal impact aid
 reserve fund. Moneys shall be paid into and withdrawn from the fund  and
 the fund shall be administered as follows:
   (a)  the board of education is hereby authorized to make payments into
 the federal impact aid reserve fund with funds from any unassigned  fund
 balance  which  accrued prior to the establishment of the federal impact
 aid reserve fund in an amount not to exceed the balance over any maximum
 allowable balance in such unassigned fund balance and from  any  reserve
 funds authorized or required by law in amounts which the board of educa-
 tion  shall  determine  are  not reasonably necessary for the purpose of
 such fund or funds and which accrued prior to  the  federal  impact  aid
 reserve  fund  provided  that  no  such payment from any unassigned fund
 balance or any reserve fund shall cause  the  balance  of  the  fund  to
 exceed  the  amount  approved  in  the ballot proposal described in this
 section;
   (b) the board of education shall determine that the  original  purpose
 for  which  a  reserve fund has been established is no longer desirable,
 the school authorities may liquidate such fund by applying  the  balance
 thereof  to  the  annual tax levy, regardless of the tax rate for school
 purposes, without authorization of the voters.    Withdrawals  from  the
 fund shall be disclosed in a manner consistent with the required disclo-
 sures  of  similar reserve funds held by the district, including disclo-
 sures required by the property tax report card prepared by the  district
 pursuant  to  the  provisions  of  subdivision  7 of section 1716 of the
 education law; and deposits and withdrawals made  in  each  fiscal  year
 shall be subject to the district's annual budget approval process; and
   (c)  the moneys in the federal impact aid reserve fund shall be depos-
 ited, invested and accounted for in the manner provided for in  subdivi-
 sions 2 and 6 of section 3651 and section 3652 of the education law.
   § 4. This act shall take effect immediately.

2017-A6795D (ACTIVE) - Details

See Senate Version of this Bill:: S6814
Current Committee:: Assembly Education
Law Section:: Education
Versions Introduced in Other Legislative Sessions:: 2019-2020: A5797, S866, S7222
2021-2022: A8310
2023-2024: A2662
2025-2026: A5591

2017-A6795D (ACTIVE) - Summary

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced.

2017-A6795D (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6795--D
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 17, 2017
                                ___________
 
 Introduced by M. of A. GIGLIO -- read once and referred to the Committee
   on  Education -- committee discharged, bill amended, ordered reprinted
   as amended and recommitted to said committee --  again  reported  from
   said  committee  with  amendments,  ordered  reprinted  as amended and
   recommitted to said committee  --  recommitted  to  the  Committee  on
   Education  in  accordance  with  Assembly  Rule 3, sec. 2 -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee -- again reported from said  committee  with  amend-
   ments, ordered reprinted as amended and recommitted to said committee
 
 AN  ACT to authorize the board of education of the Salamanca city school
   district to establish a federal impact aid reserve fund in  the  event
   federal impact aid is reduced
 
   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
 since certain lands are designated as exempt from taxation, specifically
 the  Allegany  Territory of the Seneca Nation of Indians which is within
 the Salamanca city school district, the Salamanca city  school  district
 receives  federal  impact  aid  for  support  of  services  to students.
 Responsible fiscal planning requires establishment of a  federal  impact
 reserve fund for the purpose of stabilizing the tax levy while maintain-
 ing  educational programming and services, in the event that such aid is
 no longer provided to such district.
   § 2. Definitions. As used in this act:
   (a) "Board of education" or "board" means the board  of  education  of
 the district.
   (b)  "Federal  impact  aid  reserve fund" or "fund" means the district
 federal impact aid reserve fund established pursuant to this act in  the
 event of reduction or loss of federal impact aid.
   (c)  "School  district"  or "district" means the Salamanca city school
 district.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD10358-11-8

 A. 6795--D                          2
 
   § 3. The board of education is hereby authorized to establish a feder-
 al impact aid reserve fund for the purpose of tax stabilization  in  the
 event  federal  impact  aid  is reduced provided that the amount of such
 reserve shall not exceed five million  dollars  ($5,000,000);  provided,
 however,  that  no  such  fund shall be established unless approved by a
 majority vote of the voters of the district  present  and  voting  on  a
 separate  ballot proposition therefor at either a special district meet-
 ing which the board of education may call for such  purpose  or  at  the
 annual  district  meeting  and  election, to be noticed and conducted in
 either case in accordance with article 41 of  the  education  law.  Such
 separate proposition shall set forth the maximum allowable balance to be
 deposited  and held in the federal impact aid reserve fund. Moneys shall
 be paid into and withdrawn from the fund and the fund shall be  adminis-
 tered as follows:
   (a)  the board of education is hereby authorized to make payments into
 the federal impact aid reserve fund with funds from any unassigned  fund
 balance  which  accrued prior to the establishment of the federal impact
 aid reserve fund in an amount not to exceed the balance over any maximum
 allowable balance in such unassigned fund balance and from  any  reserve
 funds authorized or required by law in amounts which the board of educa-
 tion  shall  determine  are  not reasonably necessary for the purpose of
 such fund or funds and which accrued prior to  the  federal  impact  aid
 reserve  fund  provided  that  no  such payment from any unassigned fund
 balance or any reserve fund shall cause  the  balance  of  the  fund  to
 exceed  the  amount  approved  in  the ballot proposal described in this
 section;
   (b) the board of education shall determine that the  original  purpose
 for  which  a  reserve fund has been established is no longer desirable,
 the school authorities may liquidate such fund by applying  the  balance
 thereof  to  the  annual tax levy, regardless of the tax rate for school
 purposes, without authorization of the voters.    Withdrawals  from  the
 fund shall be disclosed in a manner consistent with the required disclo-
 sures  of  similar reserve funds held by the district, including disclo-
 sures required by the property tax report card prepared by the  district
 pursuant  to  the  provisions  of  subdivision  7 of section 1716 of the
 education law; and deposits and withdrawals made  in  each  fiscal  year
 shall be subject to the district's annual budget approval process; and
   (c)  the moneys in the federal impact aid reserve fund shall be depos-
 ited, invested and accounted for in the manner provided for in  subdivi-
 sions 2 and 6 of section 3651 and section 3652 of the education law.
   § 4. This act shall take effect immediately.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Find your Senator and share your views on important issues.

Do you support this bill?

Assembly Bill A6795D

Sponsored By

Archive: Last Bill Status - In Assembly Committee

Actions

Bill Amendments

2017-A6795 - Details

2017-A6795 - Summary

2017-A6795 - Bill Text download pdf

2017-A6795A - Details

2017-A6795A - Summary

2017-A6795A - Bill Text download pdf

2017-A6795B - Details

2017-A6795B - Summary

2017-A6795B - Bill Text download pdf

2017-A6795C - Details

2017-A6795C - Summary

2017-A6795C - Bill Text download pdf

2017-A6795D (ACTIVE) - Details

2017-A6795D (ACTIVE) - Summary

2017-A6795D (ACTIVE) - Bill Text download pdf

Comments

Do you support this bill?

Get Status Alerts for 2017-A6795D

Assembly Bill A6795D

Share this bill

Sponsored By

GIGLIO

Archive: Last Bill Status - In Assembly Committee

Actions

Bill Amendments

2017-A6795 - Details

2017-A6795 - Summary

2017-A6795 - Bill Text download pdf

2017-A6795A - Details

2017-A6795A - Summary

2017-A6795A - Bill Text download pdf

2017-A6795B - Details

2017-A6795B - Summary

2017-A6795B - Bill Text download pdf

2017-A6795C - Details

2017-A6795C - Summary

2017-A6795C - Bill Text download pdf

2017-A6795D (ACTIVE) - Details

2017-A6795D (ACTIVE) - Summary

2017-A6795D (ACTIVE) - Bill Text download pdf

Comments