Bill Text: NY A09850 | 2021-2022 | General Assembly | Introduced

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Bill Title: Provides that a capital tax levy shall not be included within the definition of "tax levy limit"; defines "capital local expenditures" and "capital tax levy".

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-04-19 - referred to ways and means [A09850 Detail]

Download: New_York-2021-A09850-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9850

                   IN ASSEMBLY

                                     April 19, 2022
                                       ___________

        Introduced  by  M. of A. OTIS -- read once and referred to the Committee
          on Ways and Means

        AN ACT to amend the general municipal law, in relation  to  capital  tax
          levies to support local tax expenditures; and providing for the repeal
          of such provisions upon expiration thereof

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph (g) of subdivision 2 of section 3-c of the gener-
     2  al municipal law, as added by section 1 of part A of chapter 97  of  the
     3  laws of 2011, is amended and two new paragraphs (i) and (j) are added to
     4  read as follows:
     5    (g) "Tax levy limit" means the amount of taxes authorized to be levied
     6  by  or  on  behalf  of  a  local  government  pursuant  to this section,
     7  provided, however, that the tax levy limit shall not include the follow-
     8  ing:
     9    (i) a tax levy necessary for expenditures resulting from court  orders
    10  or  judgments  against  the local government arising out of tort actions
    11  for any amount that exceeds five percent of the total tax levied in  the
    12  prior fiscal year;
    13    (ii)  in years in which the system average actuarial contribution rate
    14  of the New York state and local employees' retirement system, as defined
    15  by paragraph ten of subdivision a of section nineteen-a of  the  retire-
    16  ment  and  social  security  law,  increases by more than two percentage
    17  points from the previous year, a tax levy necessary for expenditures for
    18  the coming fiscal year for local government  employer  contributions  to
    19  the  New  York  state  and  local employees' retirement system caused by
    20  growth in the system  average  actuarial  contribution  rate  minus  two
    21  percentage points;
    22    (iii) in years in which the system average actuarial contribution rate
    23  of  the  New  York state and local police and fire retirement system, as
    24  defined by paragraph eleven of subdivision a of  section  three  hundred
    25  nineteen-a  of the retirement and social security law, increases by more
    26  than two percentage points from the previous year, a tax levy  necessary
    27  for expenditures for the coming fiscal year for local government employ-

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14720-03-2
        A. 9850                             2

     1  er contributions to the New York state and local police and fire retire-
     2  ment  system  caused  by growth in the system average actuarial contrib-
     3  ution rate minus two percentage points;
     4    (iv)  in  years  in which the normal contribution rate of the New York
     5  state teachers' retirement system, as defined by paragraph a of subdivi-
     6  sion two of  section  five  hundred  seventeen  of  the  education  law,
     7  increases  by  more than two percentage points from the previous year, a
     8  tax levy necessary for expenditures for the coming fiscal year for local
     9  government employer  contributions  to  the  New  York  state  teachers'
    10  retirement system caused by growth in the normal contribution rate minus
    11  two percentage points; and
    12    (v) a capital tax levy.
    13    (i) "Capital local expenditures" means the taxes associated with budg-
    14  eted  expenditures  resulting  from the financing, refinancing, acquisi-
    15  tion, design, construction, reconstruction, rehabilitation, improvement,
    16  furnishing and equipping of, or otherwise providing for, capital facili-
    17  ties or capital equipment for which a period of probable  usefulness  is
    18  provided  in  section  11.00  of  the  local finance law, including debt
    19  service on obligations issued pursuant to the provisions  of  the  local
    20  finance  law  and including lease expenditures and payments due pursuant
    21  to installment purchase contracts entered into pursuant to  section  one
    22  hundred nine-b of this chapter.
    23    (j) "Capital tax levy" means the tax levy necessary to support capital
    24  local expenditures, if any.
    25    §  2.  This  act shall take effect immediately and shall expire and be
    26  deemed repealed three years after such date.