S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4243--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2021
                                ___________
 
 Introduced by Sens. GAUGHRAN, KAMINSKY, COMRIE -- read twice and ordered
   printed,  and  when printed to be committed to the Committee on Educa-
   tion -- committee  discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT to amend the education law, in relation to establishing the Long
   Island power plant tax assessment challenge reserve fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The education law is amended by adding a new section 3654
 to read as follows:
   § 3654. LONG ISLAND POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE FUND.
 1. DEFINITIONS. AS USED IN THIS SECTION:
   (A) "BOARD OF EDUCATION" OR "BOARD" SHALL MEAN THE BOARD OF  EDUCATION
 OF THE NORTHPORT-EAST NORTHPORT UNION FREE SCHOOL  DISTRICT,  THE  NORTH
 SHORE CENTRAL SCHOOL DISTRICT, THE OCEANSIDE UNION FREE SCHOOL DISTRICT,
 OR THE ISLAND PARK UNION FREE SCHOOL DISTRICT.
   (B)    "LONG ISLAND POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE FUND"
 OR "FUND" SHALL MEAN THE LONG ISLAND POWER PLANT  TAX  ASSESSMENT  CHAL-
 LENGE RESERVE FUND  ESTABLISHED  PURSUANT  TO THIS SECTION; AND
   (C)  "SCHOOL  DISTRICT"  OR  "DISTRICT"  SHALL MEAN THE NORTHPORT-EAST
 NORTHPORT  UNION  FREE  SCHOOL  DISTRICT, THE NORTH SHORE CENTRAL SCHOOL
 DISTRICT, THE OCEANSIDE UNION FREE SCHOOL DISTRICT, OR THE  ISLAND  PARK
 UNION FREE SCHOOL DISTRICT.
   2.  THE  BOARD  OF  EDUCATION IS HEREBY AUTHORIZED TO ESTABLISH A LONG
 ISLAND POWER PLANT TAX ASSESSMENT  CHALLENGE  RESERVE  FUND  TO  RESERVE
 AGAINST,  OR  LESSEN OR PREVENT INCREASES  IN THE SCHOOL DISTRICT'S REAL
 PROPERTY TAX LEVY AND/OR TAX RATE RESULTING FROM DECREASES IN REVENUE OR
 TAXES OR A SIGNIFICANT SHIFT IN TAX LIABILITY DUE TO  A  TAX  CERTIORARI
 SETTLEMENT  OR  JUDGMENT  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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08722-07-1

 S. 4243--A                          2
 
 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 LONG ISLAND POWER PLANT TAX
 ASSESSMENT CHALLENGE RESERVE FUND. MONEYS SHALL BE PAID INTO  AND  WITH-
 DRAWN FROM THE FUND AND THE FUND SHALL BE ADMINISTERED AS FOLLOWS:
   (A)  THE  BOARD  OF EDUCATION IS HEREBY AUTHORIZED TO RECEIVE PAYMENTS
 INTO  ITS  LONG ISLAND POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE FUND
 FROM  ANY  AVAILABLE FUNDS OR SOURCES OF REVENUE, INCLUDING ANY  SURPLUS
 FROM AN EXISTING RESERVE FUND.
   (B)   MONEYS   MAY  BE  WITHDRAWN FROM THE LONG ISLAND POWER PLANT TAX
 ASSESSMENT CHALLENGE RESERVE FUND BY RESOLUTION OF  THE  BOARD  FOR  ANY
 FISCAL  YEAR,  TO  BE  EXPENDED FOR ANY   LAWFUL PURPOSE, TO  LESSEN  OR
 PREVENT INCREASES IN THE DISTRICT'S TAX LEVY. 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   SEVEN   OF
 SECTION  SEVENTEEN  HUNDRED  SIXTEEN  OF  THIS CHAPTER.
   § 2. This act shall take effect immediately.