Bill Text: NY S08331 | 2021-2022 | General Assembly | Amended
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) 2022-03-08 - PRINT NUMBER 8331A [S08331 Detail]
Download: New_York-2021-S08331-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 8331--A IN SENATE February 15, 2022 ___________ Introduced by Sen. COONEY -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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 EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14720-02-2S. 8331--A 2 1 than two percentage points from the previous year, a tax levy necessary 2 for expenditures for the coming fiscal year for local government employ- 3 er contributions to the New York state and local police and fire retire- 4 ment system caused by growth in the system average actuarial contrib- 5 ution rate minus two percentage points; 6 (iv) in years in which the normal contribution rate of the New York 7 state teachers' retirement system, as defined by paragraph a of subdivi- 8 sion two of section five hundred seventeen of the education law, 9 increases by more than two percentage points from the previous year, a 10 tax levy necessary for expenditures for the coming fiscal year for local 11 government employer contributions to the New York state teachers' 12 retirement system caused by growth in the normal contribution rate minus 13 two percentage points; and 14 (v) a capital tax levy. 15 (i) "Capital local expenditures" means the taxes associated with budg- 16 eted expenditures resulting from the financing, refinancing, acquisi- 17 tion, design, construction, reconstruction, rehabilitation, improvement, 18 furnishing and equipping of, or otherwise providing for, capital facili- 19 ties or capital equipment for which a period of probable usefulness is 20 provided in section 11.00 of the local finance law, including debt 21 service on obligations issued pursuant to the provisions of the local 22 finance law and including lease expenditures and payments due pursuant 23 to installment purchase contracts entered into pursuant to section one 24 hundred nine-b of this chapter. 25 (j) "Capital tax levy" means the tax levy necessary to support capital 26 local expenditures, if any. 27 § 2. This act shall take effect immediately and shall expire and be 28 deemed repealed three years after such date.
