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S01707 Summary:

BILL NOS01707
 
SAME ASSAME AS A03799
 
SPONSORMARCHIONE
 
COSPNSRBONACIC, FUNKE
 
MLTSPNSR
 
Amd 3-c, Gen Muni L; amd 2023-a, Ed L
 
Enacts the "two percent is two percent property tax cap act" relating to the formula for the real property tax cap.
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S01707 Actions:

BILL NOS01707
 
01/10/2017REFERRED TO LOCAL GOVERNMENT
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S01707 Memo:

Memo not available
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S01707 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1707
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                    January 10, 2017
                                       ___________
 
        Introduced by Sen. MARCHIONE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
 
        AN  ACT  to  amend  the  general municipal law and the education law, in
          relation to the formula for the real property tax cap
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  This  act  shall  be  known  and may be cited as the "two
     2  percent is two percent property tax cap act".
     3    § 2. Paragraph (a) of subdivision 2 of  section  3-c  of  the  general
     4  municipal law, as added by section 1 of part A of chapter 97 of the laws
     5  of 2011, is amended to read as follows:
     6    (a)  "Allowable  levy growth factor" shall be [the lesser of: (i)] one
     7  and two one-hundredths[; or (ii) the  sum  of  one  plus  the  inflation
     8  factor;  provided, however, that in no case shall the levy growth factor
     9  be less than one].
    10    § 3. Paragraph a of subdivision 2 of section 2023-a of  the  education
    11  law,  as added by section 2 of part A of chapter 97 of the laws of 2011,
    12  is amended to read as follows:
    13    a. "Allowable levy growth factor" shall be [the lesser  of:  (i)]  one
    14  and  two  one-hundredths[;  or  (ii)  the  sum of one plus the inflation
    15  factor; provided, however, that in no case shall the levy growth  factor
    16  be less than one].
    17    §  4.  This act shall take effect immediately; provided, however, that
    18  the amendments to section 3-c of  the  general  municipal  law  made  by
    19  section  one of this act shall not affect the repeal of such section and
    20  shall be deemed repealed therewith; provided, further, that  the  amend-
    21  ments to section 2023-a of the education law made by section two of this
    22  act  shall  not  affect  the  repeal of such section and shall be deemed
    23  repealed therewith.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01806-01-7
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