Assembly Bill A5588

2021-2022 Legislative Session

Relates to school district unexpended surplus funds

download bill text pdf

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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

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2021-A5588 (ACTIVE) - Details

See Senate Version of this Bill:
S1935
Current Committee:
Assembly Education
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1318, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: S4724
2019-2020: S340
2023-2024: A5124

2021-A5588 (ACTIVE) - Summary

Relates to school district unexpended surplus funds; provides that for the 2021-2022 school year and thereafter, surplus funds shall mean any operating funds in excess of six percent of the current school year budget, and shall not include funds properly retained under other sections of law.

2021-A5588 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5588
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 22, 2021
                                ___________
 
 Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
   tee on Education
 
 AN ACT to amend the  real  property  tax  law,  in  relation  to  school
   district unexpended surplus funds
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 1 of section 1318 of the real property tax law,
 as amended by chapter 238 of the laws of 2007, is  amended  to  read  as
 follows:
   1.  The warrant of the collecting officer shall be signed by the trus-
 tee, or the trustees, or a majority of them, or the board  of  education
 or a majority thereof. Such warrant shall state the amount of unexpended
 surplus  funds  in the custody of the board and shall further state that
 except as authorized or required by law, such unexpended  surplus  funds
 have  been applied in determining the amount of the school tax levy. For
 the two thousand seven--two thousand eight school year, surplus funds as
 used in this subdivision shall mean any operating  funds  in  excess  of
 three  percent  of the current school year budget, and shall not include
 funds properly retained under other sections of law. For the  two  thou-
 sand  eight--two thousand nine school year[, and thereafter] THROUGH THE
 TWO THOUSAND TWENTY-ONE--TWO THOUSAND TWENTY-TWO  SCHOOL  YEAR,  surplus
 funds  as  used  in  this  subdivision shall mean any operating funds in
 excess of four percent of the current school year budget, and shall  not
 include funds properly retained under other sections of law. FOR THE TWO
 THOUSAND  TWENTY-ONE--TWO THOUSAND TWENTY-TWO SCHOOL YEAR, AND THEREAFT-
 ER, SURPLUS FUNDS AS USED IN THIS SUBDIVISION SHALL MEAN  ANY  OPERATING
 FUNDS  IN  EXCESS  OF SIX PERCENT OF THE CURRENT SCHOOL YEAR BUDGET, AND
 SHALL NOT INCLUDE FUNDS PROPERLY RETAINED UNDER OTHER SECTIONS  OF  LAW.
 Such warrant shall have the same force and effect as a warrant issued by
 a board of supervisors to a collecting officer in a town. The collecting
 officer  to  whom  it  may  be delivered for collection shall be thereby
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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