Bill Text: NY S03104 | 2021-2022 | General Assembly | Introduced
Bill Title: Excludes water district capital expenditures from the tax cap.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2022-01-05 - REFERRED TO LOCAL GOVERNMENT [S03104 Detail]
Download: New_York-2021-S03104-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3104 2021-2022 Regular Sessions IN SENATE January 27, 2021 ___________ Introduced by Sen. KAPLAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to excluding water district capital expenditures from the tax cap The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (iv) of paragraph (g) of subdivision 2 of 2 section 3-c of the general municipal law, as added by section 1 of part 3 A of chapter 97 of the laws of 2011, is amended and a new subparagraph 4 (v) is added to read as follows: 5 (iv) in years in which the normal contribution rate of the New York 6 state teachers' retirement system, as defined by paragraph a of subdivi- 7 sion two of section five hundred seventeen of the education law, 8 increases by more than two percentage points from the previous year, a 9 tax levy necessary for expenditures for the coming fiscal year for local 10 government employer contributions to the New York state teachers' 11 retirement system caused by growth in the normal contribution rate minus 12 two percentage points[.]; 13 (v) a tax levy necessary to fund water district capital expenditures. 14 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01265-01-1