S02607 Summary:

BILL NO    S02607 

SAME AS    SAME AS A00638

SPONSOR    LATIMER

COSPNSR    

MLTSPNSR   

Amd S3-c, Gen Muni L

Exempts cost associated with revaluations or reassessments from the tax levy
limit on real property.
Go to top

S02607 Actions:

BILL NO    S02607 

01/26/2015 REFERRED TO LOCAL GOVERNMENT
Go to top

S02607 Votes:

There are no votes for this bill in this legislative session.
Go to top

S02607 Memo:

Memo not available
Go to top

S02607 Text:

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

                                         2607

                              2015-2016 Regular Sessions

                                   I N  S E N A T E

                                   January 26, 2015
                                      ___________

       Introduced  by  Sen. LATIMER -- 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, in relation to exempting  the
         costs  associated  with  real property revaluation or reassessment for
         the tax levy limit

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

    1    Section  1.  Subparagraph  (iv)  of  paragraph (g) of subdivision 2 of
    2  section 3-c of the general municipal law, as added by section 1 of  part
    3  A  of  chapter 97 of the laws of 2011, is amended and a new subparagraph
    4  (v) is added to read as follows:
    5    (iv) in years in which the normal contribution rate of  the  New  York
    6  state teachers' retirement system, as defined by paragraph a of subdivi-
    7  sion  two  of  section  five  hundred  seventeen  of  the education law,
    8  increases by more than two percentage points from the previous  year,  a
    9  tax levy necessary for expenditures for the coming fiscal year for local
   10  government  employer  contributions  to  the  New  York  state teachers'
   11  retirement system caused by growth in the normal contribution rate minus
   12  two percentage points[.];
   13    (V) ALL COSTS ASSOCIATED WITH REAL PROPERTY REVALUATIONS OR  REASSESS-
   14  MENTS.
   15    S  2.  Paragraph  (a)  of  subdivision 3 of section 3-c of the general
   16  municipal law, as added by section 1 of part A of chapter 97 of the laws
   17  of 2011, is amended to read as follows:
   18    (a) Subject to the provisions of subdivision  five  of  this  section,
   19  beginning  with  the  fiscal year that begins in two thousand twelve, no
   20  local government shall adopt a budget that requires a tax levy  that  is
   21  greater  than  the  tax  levy limit for the coming fiscal year. Provided
   22  however the tax levy limit  shall  not  prohibit  a  levy  necessary  to
   23  support  the  expenditures  pursuant to subparagraphs (i) through [(iv)]
   24  (V) of paragraph (g) of subdivision two of this section.

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04355-01-5
       S. 2607                             2

    1    S 3. Subdivision 5 of section 3-c of the  general  municipal  law,  as
    2  added  by  section  1  of  part  A of chapter 97 of the laws of 2011, is
    3  amended to read as follows:
    4    5. A local government may adopt a budget that requires a tax levy that
    5  is  greater  than  the  tax  levy  limit for the coming fiscal year, not
    6  including any levy necessary to support  the  expenditures  pursuant  to
    7  subparagraphs (i) through [(iv)] (V) of paragraph [g] (G) of subdivision
    8  two of this section, only if the governing body of such local government
    9  first  enacts,  by  a vote of sixty percent of the total voting power of
   10  such body, a local law to override such limit  for  such  coming  fiscal
   11  year  only, or in the case of a district or fire district, a resolution,
   12  approved by a vote of sixty percent of the total voting  power  of  such
   13  body, to override such limit for such coming fiscal year only.
   14    S  4.  This act shall take effect immediately; provided, however, that
   15  the amendments to section 3-c of  the  general  municipal  law  made  by
   16  sections  one, two, and three of this act shall not affect the repeal of
   17  such section and shall be deemed repealed therewith.
Go to top
Page display time = 0.1078 sec