Senate Bill S2248

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2248
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2021
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to establish an energy system tax stabilization reserve  fund  in
   the  Lansing 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. Definitions. As used in this act:
   (a)  "Board  of  education" or "board" means the board of education of
 the Lansing Central School District.
   (b) "Energy system tax stabilization reserve fund" or "fund" means the
 energy system tax stabilization 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  on  any power plant wholly or partially within the Lansing Central
 School District.
   (d) "School district" or "district" means the Lansing  Central  School
 District.
   § 2. The board of education is hereby authorized to establish an ener-
 gy  system tax stabilization reserve fund to lessen or prevent increases
 in the school district's real property tax levy resulting from decreases
 in revenue due to changes in or termination of the payments in  lieu  of
 taxes  receivable by the school district provided, however, that no such
 fund shall be established unless 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  41  of
 the  education law.  Such separate proposition shall set forth the maxi-
 mum allowable balance to be deposited and  held  in  the  energy  system
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04596-01-1
              

 S. 2248                             2
 
 stabilization 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 energy  system  tax  stabilization  reserve  fund  with  funds  from
 payments  in lieu of taxes, as defined in subdivision (c) of section one
 of this act which accrued prior  to  the  establishment  of  the  energy
 system  tax  stabilization  reserve  fund in an amount not to exceed the
 balance over any maximum  allowable  balance  in  such  unassigned  fund
 balance.
   (b) For any school district fiscal year commencing after the effective
 date  of  this  act  and  after  the  establishment of the energy system
 stabilization reserve fund, the board of education  may  determine  that
 there  shall  be  paid into the fund all or any portion of the amount by
 which the payments in lieu of taxes receivable by  the  school  district
 for  such fiscal year is greater than the amount of payments received by
 the school district for the preceding fiscal year provided that no  such
 payment  into  the  reserve  fund shall cause the balance of the fund to
 exceed the amount approved in the ballot proposal described above.
   (c) Moneys may be withdrawn from the energy system  tax  stabilization
 reserve  fund for any fiscal year to be expended for any lawful purpose.
 Withdrawals from the fund shall be disclosed in a manner consistent with
 the required disclosures of similar reserve funds held by the  district,
 including  disclosures 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.
   (d)  The  moneys in the energy system stabilization reserve fund shall
 be deposited, invested and accounted for in the manner provided  for  in
 subdivisions  2 and 6 of section 3651 and  section 3652 of the education
 law.
   § 3. This act shall take effect immediately.