Add §§99-ii, 99-jj, 99-kk, 99-ll & 99-mm, St Fin L
Establishes the city of New York education fund, the city of Yonkers education fund, the city of Rochester education fund, the city of Buffalo education fund and the city of Syracuse education fund.
STATE OF NEW YORK
________________________________________________________________________
4718
2021-2022 Regular Sessions
IN ASSEMBLY
February 5, 2021
___________
Introduced by M. of A. SMITH -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the state finance law, in relation to establishing the
city of New York education fund, the city of Yonkers education fund,
the city of Rochester education fund, the city of Buffalo education
fund and the city of Syracuse education fund
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The state finance law is amended by adding five new
2 sections 99-ii, 99-jj, 99-kk, 99-ll and 99-mm to read as follows:
3 § 99-ii. City of New York education fund. 1. There is hereby estab-
4 lished in the joint custody of the mayor of the city of New York and the
5 commissioner of taxation and finance a special fund to be known as the
6 "city of New York education fund".
7 2. The city of New York education fund shall consist of moneys
8 collected from the additional imposition of one percent of real property
9 taxes on all classes within a city with a population of one million or
10 more.
11 3. Funding within the city of New York education fund shall be used in
12 conjunction with money provided through the city's budget to support
13 education programs.
14 4. Moneys in the fund shall be kept separately from and shall not be
15 commingled with any other moneys in the custody of the city.
16 § 99-jj. City of Yonkers education fund. 1. There is hereby estab-
17 lished in the joint custody of the mayor of the city of Yonkers and the
18 commissioner of taxation and finance a special fund to be known as the
19 "city of Yonkers education fund".
20 2. The fund shall consist of moneys collected from the additional
21 imposition of one percent of real property taxes on all classes within
22 the city of Yonkers.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06873-01-1
A. 4718 2
1 3. Funding within the city of Yonkers education fund shall be used in
2 conjunction with money provided through the city's budget to support
3 education programs.
4 4. Moneys in the fund shall be kept separately from and shall not be
5 commingled with any other moneys in the custody of the city.
6 § 99-kk. City of Rochester education fund. 1. There is hereby estab-
7 lished in the joint custody of the mayor of the city of Rochester and
8 the commissioner of taxation and finance a special fund to be known as
9 the "city of Rochester education fund".
10 2. The fund shall consist of moneys collected from the additional
11 imposition of one percent of real property taxes on all classes within
12 the city of Rochester.
13 3. Funding within the city of Rochester education fund shall be used
14 in conjunction with money provided through the city's budget to support
15 education programs.
16 4. Moneys in the fund shall be kept separately from and shall not be
17 commingled with any other moneys in the custody of the city.
18 § 99-ll. City of Buffalo education fund. 1. There is hereby estab-
19 lished in the joint custody of the mayor of the city of Buffalo and the
20 commissioner of taxation and finance a special fund to be known as the
21 "city of Buffalo education fund".
22 2. The fund shall consist of moneys collected from the additional
23 imposition of one percent of real property taxes on all classes within
24 the city of Buffalo.
25 3. Funding within the city of Buffalo education fund shall be used in
26 conjunction with money provided through the city's budget to support
27 education programs.
28 4. Moneys in the fund shall be kept separately from and shall not be
29 commingled with any other moneys in the custody of the city.
30 § 99-mm. City of Syracuse education fund. 1. There is hereby estab-
31 lished in the joint custody of the mayor of the city of Syracuse and the
32 commissioner of taxation and finance a special fund to be known as the
33 "city of Syracuse education fund".
34 2. The fund shall consist of moneys collected from the additional
35 imposition of one percent of real property taxes on all classes within
36 the city of Syracuse.
37 3. Funding within the city of Syracuse education fund shall be used in
38 conjunction with money provided through the city's budget to support
39 education programs.
40 4. Moneys in the fund shall be kept separately from and shall not be
41 commingled with any other moneys in the custody of the city.
42 § 2. This act shall take effect immediately.
