S06691 Summary:

BILL NOS06691
 
SAME ASSAME AS A08412
 
SPONSORHELMING
 
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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S06691 Actions:

BILL NOS06691
 
06/13/2017REFERRED TO RULES
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S06691 Committee Votes:

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S06691 Floor Votes:

There are no votes for this bill in this legislative session.
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S06691 Memo:

Memo not available
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S06691 Text:



 
                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.
                                                                   LBD13173-01-7

        S. 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.
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S06691 LFIN:

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S06691 Chamber Video:

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