Bill Text: NY S08623 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to special act school districts and special education; authorizes boards of education of special act school districts to establish fiscal stabilization reserve funds.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Engrossed - Dead) 2020-07-23 - referred to education [S08623 Detail]
Download: New_York-2019-S08623-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8623 IN SENATE June 24, 2020 ___________ Introduced by Sen. MAYER -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the education law, in relation to special act school districts and special education The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 4004 of the education law is amended by adding a 2 new subdivision 5 to read as follows: 3 5. The board of education of a special act school district shall be 4 authorized to establish a fiscal stabilization reserve fund. There may 5 be paid into such fund an amount as may be provided pursuant to the 6 requirements of paragraph k of subdivision four of section forty-four 7 hundred five of this title. 8 § 2. Subdivision 4 of section 4405 of the education law is amended by 9 adding a new paragraph k to read as follows: 10 k. The tuition methodology established pursuant to this subdivision 11 for the two thousand nineteen--two thousand twenty school year and annu- 12 ally thereafter shall authorize approved private residential or non-re- 13 sidential schools for the education of students with disabilities that 14 are located within the state, and special act school districts, to 15 retain funds in excess of their allowable and reimbursable costs 16 incurred for services and programs provided to school-age students. The 17 amount of funds that may be annually retained shall not exceed one 18 percent of the school's or school district's total allowable and reim- 19 bursable costs for services and programs provided to school-age students 20 for the school year from which the funds are to be retained; provided 21 that the total accumulated balance that may be retained shall not exceed 22 four percent of such total costs for such school year. Funds may be 23 expended only pursuant to an authorization of the governing board of the 24 school or school district, for a purpose expressly authorized as part of 25 the approved tuition methodology for the year in which the funds are to 26 be expended. The director of the budget, in consultation with the 27 commissioner, shall establish the authorized uses for the expenditures 28 of such funds as part of the approved tuition methodology. Any school or EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16791-01-0S. 8623 2 1 school district that retains funds pursuant to this paragraph shall be 2 required to annually report a statement of the total balance of any such 3 retained funds, the amount, if any, retained in the prior school year, 4 the amount, if any, disbursed in the prior school year, and any addi- 5 tional information requested by the department as part of the financial 6 reports that are required to be annually submitted to the department. 7 § 3. This act shall take effect immediately.