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Assembly Bill A2234

2025-2026 Legislative Session

Establishes the city of New York education fund

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2025-A2234 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add §99-ss, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10947
2019-2020: A6406
2021-2022: A4718
2023-2024: A6533

2025-A2234 (ACTIVE) - Summary

Establishes the city of New York education fund from an additional real property tax to support education programs.

2025-A2234 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2234
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 15, 2025
                                ___________
 
 Introduced  by  M. of A. SMITH, BRABENEC, SAYEGH, DeSTEFANO -- read once
   and referred to the Committee on Ways and Means
 
 AN ACT to amend the state finance law, in relation to  establishing  the
   city of New York education fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The state finance law is amended by adding  a  new  section
 99-ss to read as follows:
   §  99-SS.  CITY  OF NEW YORK EDUCATION FUND. 1. THERE IS HEREBY ESTAB-
 LISHED IN THE JOINT CUSTODY OF THE MAYOR OF THE CITY OF NEW YORK AND THE
 COMMISSIONER OF TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN  AS  THE
 "CITY OF NEW YORK EDUCATION FUND".
   2.  THE  CITY  OF  NEW  YORK  EDUCATION  FUND  SHALL CONSIST OF MONEYS
 COLLECTED FROM THE ADDITIONAL IMPOSITION OF ONE PERCENT OF REAL PROPERTY
 TAXES ON ALL CLASSES WITHIN A CITY WITH A POPULATION OF ONE  MILLION  OR
 MORE.
   3. FUNDING WITHIN THE CITY OF NEW YORK EDUCATION FUND SHALL BE USED IN
 CONJUNCTION  WITH  MONEYS  PROVIDED THROUGH THE CITY'S BUDGET TO SUPPORT
 EDUCATION PROGRAMS.
   4. MONEYS IN THE FUND SHALL BE KEPT SEPARATELY FROM AND SHALL  NOT  BE
 COMMINGLED WITH ANY OTHER MONEYS IN THE CUSTODY OF THE CITY.
   § 2. This act shall take effect the first of April next succeeding the
 date upon which it shall have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02015-01-5

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