A08412 Summary:

BILL NOA08412
 
SAME ASSAME AS S06691
 
SPONSORLifton
 
COSPNSR
 
MLTSPNSR
 
 
Establishes an energy system tax stabilization reserve fund in the Lansing Central School District to lessen or prevent increases in the school district's real property tax levy resulting from decreases in revenue due to changes in or termination of the payments in lieu of taxes receivable by the school district.
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A08412 Actions:

BILL NOA08412
 
06/14/2017referred to education
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A08412 Committee Votes:

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A08412 Floor Votes:

There are no votes for this bill in this legislative session.
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A08412 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8412
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 14, 2017
                                       ___________
 
        Introduced by M. of A. LIFTON -- read once and referred to the Committee
          on Education
 
        AN  ACT  to establish an energy system tax stabilization reserve fund in
          the Lansing Central School District to lessen or prevent increases  in
          the school district's real property tax levy

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Definitions. As used in this act:
     2    (a) "Board of education" or "board" means the board  of  education  of
     3  the Lansing Central School District.
     4    (b) "Energy system tax stabilization reserve fund" or "fund" means the
     5  energy system tax stabilization fund established pursuant to this act.
     6    (c)  "Payments  in lieu of taxes" or "payments" means payments in lieu
     7  of taxes receivable by the school district pursuant to contracts entered
     8  into on any power plant wholly or partially within the  Lansing  Central
     9  School District.
    10    (d)  "School  district" or "district" means the Lansing Central School
    11  District.
    12    § 2. The board of education is hereby authorized to establish an ener-
    13  gy system tax stabilization reserve fund to lessen or prevent  increases
    14  in the school district's real property tax levy resulting from decreases
    15  in  revenue  due to changes in or termination of the payments in lieu of
    16  taxes receivable by the school district provided, however, that no  such
    17  fund  shall  be  established  unless  approved by a majority vote of the
    18  voters present and voting on a separate ballot proposition  therefor  at
    19  either  a special district meeting which the board of education may call
    20  for such purpose or at the annual district meeting and election,  to  be
    21  noticed  and  conducted  in either case in accordance with article 41 of
    22  the education law.  Such separate proposition shall set forth the  maxi-
    23  mum  allowable  balance  to  be  deposited and held in the energy system
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13173-01-7

        A. 8412                             2
 
     1  stabilization reserve fund. Moneys shall be paid into and withdrawn from
     2  the fund and the fund shall be administered as follows:
     3    (a)  The board of education is hereby authorized to make payments into
     4  the energy  system  tax  stabilization  reserve  fund  with  funds  from
     5  payments  in lieu of taxes, as defined in subdivision (c) of section one
     6  of this act which accrued prior  to  the  establishment  of  the  energy
     7  system  tax  stabilization  reserve  fund in an amount not to exceed the
     8  balance over any maximum  allowable  balance  in  such  unassigned  fund
     9  balance.
    10    (b) For any school district fiscal year commencing after the effective
    11  date  of  this  act  and  after  the  establishment of the energy system
    12  stabilization reserve fund, the board of education  may  determine  that
    13  there  shall  be  paid into the fund all or any portion of the amount by
    14  which the payments in lieu of taxes receivable by  the  school  district
    15  for  such fiscal year is greater than the amount of payments received by
    16  the school district for the preceding fiscal year provided that no  such
    17  payment  into  the  reserve  fund shall cause the balance of the fund to
    18  exceed the amount approved in the ballot proposal described above.
    19    (c) Moneys may be withdrawn from the energy system  tax  stabilization
    20  reserve  fund for any fiscal year to be expended for any lawful purpose.
    21  Withdrawals from the fund shall be disclosed in a manner consistent with
    22  the required disclosures of similar reserve funds held by the  district,
    23  including  disclosures required by the property tax report card prepared
    24  by the district pursuant to the provisions of subdivision 7  of  section
    25  1716  of  the  education  law; and deposits and withdrawals made in each
    26  fiscal year shall be subject to the district's  annual  budget  approval
    27  process.
    28    (d)  The  moneys in the energy system stabilization reserve fund shall
    29  be deposited, invested and accounted for in the manner provided  for  in
    30  subdivisions  2 and 6 of section 3651 and  section 3652 of the education
    31  law.
    32    § 3. This act shall take effect immediately.
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A08412 Chamber Video:

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