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SB1854 Summary:

BILL NO    S01854 

SAME AS    SAME AS A04622

SPONSOR    LITTLE

COSPNSR    

MLTSPNSR   



Provides for the determination of actual valuation for the Cambridge central
school district.
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SB1854 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         1854

                              2015-2016 Regular Sessions

                                   I N  S E N A T E

                                   January 15, 2015
                                      ___________

       Introduced  by  Sen.  LITTLE -- read twice and ordered printed, and when
         printed to be committed to the Committee on Education

       AN ACT to provide for the determination  of  actual  valuation  for  the
         Cambridge central school district

         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:

    1    Section 1. Notwithstanding paragraph c of  subdivision  1  of  section
    2  3602  of  the  education  law  for the Cambridge school district "actual
    3  valuation" shall mean the valuation of taxable real property in a school
    4  district obtained by taking the assessed valuation of taxable real prop-
    5  erty within such district as it appears upon the assessment roll of  the
    6  town,  city,  village,  or county in which such property is located, for
    7  the calendar year one year prior to the calendar year in which the  base
    8  year  commenced,  after  revision as provided by law, and dividing it by
    9  the state equalization rate as determined by the  state  board  of  real
   10  property  services, for the assessment roll of such town, city, village,
   11  or county completed during such preceding calendar year.    Such  actual
   12  valuation  shall  include any actual valuation equivalent of payments in
   13  lieu of taxes determined pursuant to section 485 of  the  real  property
   14  tax  law.    "Selected actual valuation" shall mean the lesser of actual
   15  valuation calculated for aid payable in the current year or the two-year
   16  average of the actual  valuation  calculated  for  aid  payable  in  the
   17  current  year and the actual valuation calculated for aid payable in the
   18  base year.
   19    S 2. This act shall take effect immediately.



        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05692-01-5
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