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SB1854 Summary:

BILL NOS01854
 
SAME ASSAME AS A04622
 
SPONSORLITTLE
 
COSPNSR
 
MLTSPNSR
 
 
Provides for the determination of actual valuation for the Cambridge central school district.
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SB1854 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1854
 
                               2015-2016 Regular Sessions
 
                    IN SENATE
 
                                    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    § 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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