Bill Text: NY A06210 | 2021-2022 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Establishes the power plant tax assessment reserve fund to 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.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2022-05-16 - REFERRED TO FINANCE [A06210 Detail]

Download: New_York-2021-A06210-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         6210--A

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                     March 10, 2021
                                       ___________

        Introduced by M. of A. LAVINE -- read once and referred to the Committee
          on  Education -- 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:

     1    Section 1. The education law is amended by adding a new  section  3654
     2  to read as follows:
     3    § 3654. Long Island power plant tax assessment challenge reserve fund.
     4  1. Definitions. As used in this section:
     5    (a) "Board of education" or "board" shall mean the board of  education
     6  of  the  Northport-East  Northport union free school district, the North
     7  Shore central school district, the Oceanside union free school district,
     8  or the Island Park union free school district.
     9    (b)  "Long Island power plant tax assessment challenge  reserve  fund"
    10  or  "fund"  shall  mean the Long Island power plant tax assessment chal-
    11  lenge reserve fund  established  pursuant  to this section; and
    12    (c)  "School  district"  or  "district"  shall mean the Northport-East
    13  Northport union free school district, the  North  Shore  central  school
    14  district,  the  Oceanside union free school district, or the Island Park
    15  union free school district.
    16    2. The board of education is hereby authorized  to  establish  a  Long
    17  Island  power  plant  tax  assessment  challenge reserve fund to reserve
    18  against, or lessen or prevent increases  in the school  district's  real
    19  property tax levy and/or tax rate resulting from decreases in revenue or
    20  taxes  or  a  significant shift in tax liability due to a tax certiorari
    21  settlement or judgment provided, however, that no  such  fund  shall  be
    22  established unless approved by a majority vote of the voters present and
    23  voting  on  a  separate  ballot proposition therefor at either a special
    24  district meeting which the board of education may call for such  purpose

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08722-08-1
        A. 6210--A                          2

     1  or  at  the  annual  district  meeting  and  election, to be noticed and
     2  conducted in either case in accordance with article  forty-one  of  this
     3  chapter. Such separate proposition shall set forth the maximum allowable
     4  balance  to  be  deposited  and  held in the Long Island power plant tax
     5  assessment challenge reserve fund. Moneys shall be paid into  and  with-
     6  drawn from the fund and the fund shall be administered as follows:
     7    (a)  The  board  of education is hereby authorized to receive payments
     8  into  its  Long Island power plant tax assessment challenge reserve fund
     9  from  any  available funds or sources of revenue, including any  surplus
    10  from an existing reserve fund.
    11    (b)   Moneys   may  be  withdrawn from the Long Island power plant tax
    12  assessment challenge reserve fund by resolution of  the  board  for  any
    13  fiscal  year,  to  be  expended for any   lawful purpose, to  lessen  or
    14  prevent increases in the district's tax levy. Withdrawals from the  fund
    15  shall   be   disclosed   in   a   manner  consistent  with  the required
    16  disclosures  of  similar  reserve  funds held by the district, including
    17  disclosures required by the property tax report  card  prepared  by  the
    18  district  pursuant to   the   provisions   of   subdivision   seven   of
    19  section  seventeen  hundred  sixteen  of  this chapter.
    20    § 2. This act shall take effect immediately.