Senate Bill S9357

2021-2022 Legislative Session

Establishes the North Shore LIPA power plant tax assessment challenge reserve fund

download bill text pdf

Sponsored By

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-S9357 (ACTIVE) - Details

Current Committee:
Assembly Education
Law Section:
Education Law
Laws Affected:
Add §3654, Ed L

2021-S9357 (ACTIVE) - Summary

Establishes the North Shore LIPA power plant tax assessment challenge reserve fund to reserve against, lessen or prevent increases in the North Shore central 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; defines terms; makes related provisions.

2021-S9357 (ACTIVE) - Sponsor Memo

2021-S9357 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9357
 
                             I N  S E N A T E
 
                               May 19, 2022
                                ___________
 
 Introduced  by Sen. GAUGHRAN -- 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 establishing the North
   Shore LIPA 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. NORTH SHORE LIPA 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 NORTH SHORE CENTRAL SCHOOL DISTRICT.
   (B)    "NORTH  SHORE LIPA POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE
 FUND" OR "FUND" SHALL MEAN THE NORTH SHORE LIPA POWER PLANT TAX  ASSESS-
 MENT CHALLENGE RESERVE FUND  ESTABLISHED  PURSUANT  TO THIS SECTION.
   (C)    "SCHOOL  DISTRICT"  OR  "DISTRICT"  SHALL  MEAN THE NORTH SHORE
 CENTRAL SCHOOL DISTRICT.
   2. THE BOARD OF EDUCATION IS HEREBY AUTHORIZED TO  ESTABLISH  A  NORTH
 SHORE  LIPA 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
 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 NORTH SHORE LIPA 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  NORTH SHORE LIPA POWER PLANT TAX ASSESSMENT CHALLENGE RESERVE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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