Bill Text: NY S07133 | 2013-2014 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to the Tuckahoe common school district merger with the Southampton school district in Suffolk county; authorizes the Southampton school district to establish a reserve for tax reduction to maintain the successor school district estimated tax rate for taxpayers of the Southampton school district existing before the voter approval of the dissolution and annexation of the Tuckahoe common school district at the level of such tax rate in the Southampton school district for the school year before the voter approval of the dissolution and annexation of the Tuckahoe common school district.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2014-08-05 - SIGNED CHAP.203 [S07133 Detail]

Download: New_York-2013-S07133-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
           S. 7133                                                  A. 9461
                             S E N A T E - A S S E M B L Y
                                    April 30, 2014
                                      ___________
       IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Local Govern-
         ment
       IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
         to the Committee on Education
       AN ACT in relation to the Tuckahoe common school  district  merger  with
         the Southampton school district in Suffolk county
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Notwithstanding any other law to the contrary,  upon  voter
    2  approval of the dissolution and annexation of the Tuckahoe common school
    3  district  into  the  Southampton school district in Suffolk county, such
    4  successor school district shall be authorized to establish a reserve for
    5  tax reduction pursuant to subdivision 37 of section 1709 of  the  educa-
    6  tion  law.  The  proceeds  of  such  reserve fund shall only include the
    7  proceeds of a capital reserve fund established by the Southampton school
    8  district existing before the voter approval of the dissolution and anne-
    9  xation of the Tuckahoe common  school  district,  for  the  purposes  of
   10  construction  of  a new district office building, where the school board
   11  of the successor school district  determines  by  resolution  that  such
   12  capital  project  and reserve fund is no longer necessary for the opera-
   13  tion of the successor district. The proceeds of  such  reserve  for  tax
   14  reduction  shall only be utilized for tax reduction for taxpayers of the
   15  Southampton school district existing before the voter  approval  of  the
   16  dissolution  and  annexation  of the Tuckahoe common school district, in
   17  the manner provided for by this act.
   18    S 2. The successor school district shall annually provide  a  detailed
   19  report  of  the  condition  of  the  school  district  reserve  for  tax
   20  reduction, including but not limited to:  (a)  the  date  the  fund  was
   21  established, (b) the balance of the fund at the close of the immediately
   22  preceding school year, (c) the amount of interest earned at the close of
   23  the immediately preceding school year, and (d) a schedule of the amounts
   24  invested.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14380-01-4
       S. 7133                             2                            A. 9461
    1    S  3.  Funds in the school district reserve for tax reduction shall be
    2  used to maintain the successor school district estimated  tax  rate  for
    3  taxpayers  of  the Southampton school district existing before the voter
    4  approval of the dissolution and annexation of the Tuckahoe common school
    5  district  at  the  level  of  such  tax  rate  in the Southampton school
    6  district for the school year before the voter approval  of  the  dissol-
    7  ution and annexation of the Tuckahoe common school district.
    8    S 4. This act shall take effect immediately.