S T A T E O F N E W Y O R K
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8608
I N S E N A T E
March 21, 2022
___________
Introduced by Sen. AKSHAR -- read twice and ordered printed, and when
printed to be committed to the Committee on Education
AN ACT to amend the education law, in relation to the computation of
building aid for construction, reconstruction or modernizing of
projects for Binghamton City School District
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subparagraph 9 of paragraph a of subdivision 6 of section
3602 of the education law, as added by chapter 617 of the laws of 2021,
is renumbered subparagraph 10 and a new subparagraph 11 is added to read
as follows:
(11) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, FOR
THE PURPOSE OF COMPUTATION OF BUILDING AID FOR CONSTRUCTION, RECON-
STRUCTION OR MODERNIZING OF NOT MORE THAN FIVE CAPITAL CONSTRUCTION
PROJECTS BY THE BINGHAMTON CITY SCHOOL DISTRICT, MULTI-YEAR COST ALLOW-
ANCES FOR EACH PROJECT SHALL BE ESTABLISHED AND UTILIZED THREE TIMES IN
THE FIRST FIVE-YEAR PERIOD. SUBSEQUENT MULTI-YEAR COST ALLOWANCES SHALL
BE ESTABLISHED NO SOONER THAN TEN YEARS AFTER ESTABLISHMENT OF THE FIRST
MAXIMUM COST ALLOWANCE AUTHORIZED PURSUANT TO THIS SUBPARAGRAPH.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14896-01-2