Provides that for the two thousand twenty-six--two thousand twenty-seven school year, the two thousand twenty-seven--two thousand twenty-eight school year, and the two thousand twenty-eight--two thousand twenty-nine school year, surplus funds as used in this subdivision shall mean any operating funds in excess of five percent of the current school year budget, and shall not include funds properly retained under other sections of law.
S T A T E O F N E W Y O R K
________________________________________________________________________
351
2025-2026 Regular Sessions
I N A S S E M B L Y
(PREFILED)
January 8, 2025
___________
Introduced by M. of A. PAULIN, OTIS -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to 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; PROVIDED HOWEVER,
THAT FOR THE TWO THOUSAND TWENTY-SIX--TWO THOUSAND TWENTY-SEVEN SCHOOL
YEAR, THE TWO THOUSAND TWENTY-SEVEN--TWO THOUSAND TWENTY-EIGHT SCHOOL
YEAR, AND THE TWO THOUSAND TWENTY-EIGHT--TWO THOUSAND TWENTY-NINE SCHOOL
YEAR, SURPLUS FUNDS AS USED IN THIS SUBDIVISION SHALL MEAN ANY
OPERATING FUNDS IN EXCESS OF FIVE PERCENT OF THE CURRENT SCHOOL YEAR
BUDGET, AND SHALL NOT INCLUDE FUNDS PROPERLY RETAINED UNDER OTHER
SECTIONS OF LAW. For the two thousand eight--two thousand nine school
year, and thereafter, 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. Such warrant shall have the same force and effect as a
warrant issued by a board of supervisors to a collecting officer in a
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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