STATE OF NEW YORK ________________________________________________________________________ 6310 2023-2024 Regular Sessions IN ASSEMBLY April 3, 2023 ___________ Introduced by M. of A. K. BROWN -- read once and referred to the Commit- tee on Education AN ACT to amend the education law, in relation to establishing the Northport-East Northport 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: 1 Section 1. The education law is amended by adding a new section 3654 2 to read as follows: 3 § 3654. Northport-East Northport LIPA power plant tax assessment chal- 4 lenge reserve fund. 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. 7 (b) "Northport-East Northport LIPA power plant tax assessment chal- 8 lenge reserve fund" or "fund" shall mean the Northport-East Northport 9 LIPA power plant tax assessment challenge reserve fund established 10 pursuant to this section. 11 (c) "School district" or "district" shall mean the Northport-East 12 Northport union free school district. 13 2. The board of education is hereby authorized to establish a North- 14 port-East Northport LIPA power plant tax assessment challenge reserve 15 fund to reserve against, or lessen or prevent increases in the school 16 district's real property tax levy and/or tax rate resulting from 17 decreases in revenue or taxes or a significant shift in tax liability 18 due to a tax certiorari settlement or judgment provided, however, that 19 no such fund shall be established unless approved by a majority vote of 20 the voters present and voting on a separate ballot proposition therefor 21 at either a special district meeting which the board of education may 22 call for such purpose or at the annual district meeting and election, to 23 be noticed and conducted in either case in accordance with article 24 forty-one of this chapter. Such separate proposition shall set forth the EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06715-01-3A. 6310 2 1 maximum allowable balance to be deposited and held in the Northport-East 2 Northport LIPA power plant tax assessment challenge reserve fund. Moneys 3 shall be paid into and withdrawn from the fund and the fund shall be 4 administered as follows: 5 (a) The board of education is hereby authorized to receive payments 6 into its Northport-East Northport LIPA power plant tax assessment chal- 7 lenge reserve fund from any available funds or sources of revenue, 8 including any surplus from an existing reserve fund. 9 (b) Moneys may be withdrawn from the Northport-East Northport LIPA 10 power plant tax assessment challenge reserve fund by resolution of the 11 board for any fiscal year, to be expended for any lawful purpose, to 12 lessen or prevent increases in the district's tax levy. Withdrawals 13 from the fund shall be disclosed in a manner consistent with the 14 required disclosures of similar reserve funds held by the district, 15 including disclosures required by the property tax report card prepared 16 by the district pursuant to the provisions of subdivision seven of 17 section seventeen hundred sixteen of this chapter. 18 § 2. This act shall take effect immediately.