Bill Text: NY S06110 | 2011-2012 | General Assembly | Introduced

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Bill Title: Exempts certain consolidated school districts from provisions of law requiring re-computation upon sale of building aid for projects for the construction, acquisition, reconstruction, rehabilitation or improvement of school buildings.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2012-06-19 - referred to education [S06110 Detail]

Download: New_York-2011-S06110-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6110
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 4, 2012
                                      ___________
       Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
         printed to be committed to the Committee on Education
       AN ACT to amend the education law,  in  relation  to  exempting  certain
         consolidated school districts from provisions of law requiring re-com-
         putation  upon sale of building aid for projects for the construction,
         acquisition, reconstruction, rehabilitation or improvement  of  school
         buildings
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subparagraph 8 of paragraph e of subdivision 6  of  section
    2  3602  of  the education law, as added by section 31 of part A of chapter
    3  58 of the laws of 2011, is amended to read as follows:
    4    (8) Notwithstanding any other provision of the law  to  the  contrary,
    5  AND  UNLESS THE DISTRICT WAS FORMED AS A RESULT OF A CONSOLIDATION OF AT
    6  LEAST TWO SCHOOL DISTRICTS IN THE PAST FIFTEEN YEARS, where, during  the
    7  period   of   assumed   amortization  relating  to  a  project  for  the
    8  construction, acquisition, reconstruction, rehabilitation or improvement
    9  of a school building, the school building is sold or ownership is other-
   10  wise transferred to an entity other than the school district or city and
   11  such transfer results in the building no longer being  operated  by  the
   12  school  district  as a public elementary or secondary school that is not
   13  independent or autonomous, the district shall, within sixty days of  the
   14  transfer of ownership, notify the commissioner of such sale or transfer,
   15  and shall provide such additional information about the sale or transfer
   16  as the commissioner may require, in a form prescribed by the commission-
   17  er,  and  the  commissioner  shall  re-compute the building aid, if any,
   18  payable for such project pursuant to this subparagraph,  except  to  the
   19  extent such re-computation would conflict with the provisions of section
   20  twenty-seven  hundred  ninety-nine-tt of the public authorities law. The
   21  commissioner shall deduct the revenues received by the  school  district
   22  or  city  as  a  result of such sale or transfer from the approved total
   23  project cost and, based on such adjusted project cost, establish  a  new
   24  assumed  amortization for the remaining useful life of the project under
   25  the applicable provisions of this paragraph.
   26    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13720-01-2