Assembly Bill A2662

2023-2024 Legislative Session

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced

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Current 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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2023-A2662 (ACTIVE) - Details

See Senate Version of this Bill:
S5733
Current Committee:
Assembly Education
Law Section:
Education
Versions Introduced in Other Legislative Sessions:
2017-2018: A6795
2019-2020: A5797
2021-2022: A8310

2023-A2662 (ACTIVE) - Summary

Authorizes the city school district of the city of Salamanca to establish a reserve fund for federal impact aid in the event such aid is reduced.

2023-A2662 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2662
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 26, 2023
                                ___________
 
 Introduced  by  M.  of  A. J. M. GIGLIO -- read once and referred to the
   Committee on Education
 
 AN ACT to authorize the board of education of the Salamanca city  school
   district  to  establish a federal impact aid reserve fund in the event
   federal impact aid is reduced

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Legislative  findings.  The legislature hereby finds that
 since certain lands are designated as exempt from taxation, specifically
 the Allegany Territory of the Seneca Nation of Indians which  is  within
 the  Salamanca  city school district, the Salamanca city school district
 receives federal  impact  aid  for  support  of  services  to  students.
 Responsible  fiscal  planning requires establishment of a federal impact
 reserve fund for the purpose of stabilizing the tax levy while maintain-
 ing educational programming and services, in the event that such aid  is
 no longer provided to such district.
   § 2. Definitions. As used in this act:
   (a)  "Board  of  education" or "board" means the board of education of
 the district.
   (b) "Federal impact aid reserve fund" or  "fund"  means  the  district
 federal  impact aid reserve fund established pursuant to this act in the
 event of reduction or loss of federal impact aid.
   (c) "School district" or "district" means the  Salamanca  city  school
 district.
   § 3. The board of education is hereby authorized to establish a feder-
 al  impact  aid reserve fund for the purpose of tax stabilization in the
 event federal impact aid is reduced provided that  the  amount  of  such
 reserve  shall  not  exceed five million dollars ($5,000,000); provided,
 however, that no such fund shall be established  unless  approved  by  a
 majority  vote  of  the  voters  of the district present and voting on a
 separate ballot proposition therefor at either a special district  meet-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01684-01-3
              

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