S06691 Summary:
BILL NO | S06691 |
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SAME AS | SAME AS A08412 |
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SPONSOR | HELMING |
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COSPNSR | |
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MLTSPNSR | |
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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. |
S06691 Actions:
BILL NO | S06691 | |||||||||||||||||||||||||||||||||||||||||||||||||
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06/13/2017 | REFERRED TO RULES | |||||||||||||||||||||||||||||||||||||||||||||||||
01/03/2018 | REFERRED TO LOCAL GOVERNMENT |
S06691 Memo:
Memo not availableGo to top
S06691 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 6691 2017-2018 Regular Sessions IN SENATE June 13, 2017 ___________ Introduced by Sen. HELMING -- read twice and ordered printed, and when printed to be committed to the Committee on Rules 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. LBD13173-01-7S. 6691 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.
S06691 LFIN:
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