Finch, Smullen, Morinello, Ashby, Salka, Manktelow, Lawrence
MLTSPNSR
Barclay, DeStefano, Fitzpatrick, Giglio, McDonough, Miller ML, Tague
Add §3615, Ed L
Relates to school district bonds and notification to taxpayers; requires school districts when presenting a budget for the fiscal year, to notify taxpayers and disclose the amount of the outstanding bonds and the amount of such bonds which shall expire in the respective fiscal year; provides for a separate line on every taxpayer's bill for the amount of taxes which were paid on such bonds in the respective fiscal year.
STATE OF NEW YORK
________________________________________________________________________
4972
2019-2020 Regular Sessions
IN ASSEMBLY
February 6, 2019
___________
Introduced by M. of A. RAIA, FINCH -- Multi-Sponsored by -- M. of A.
BARCLAY, FITZPATRICK, GIGLIO, McDONOUGH, MORINELLO -- read once and
referred to the Committee on Education
AN ACT to amend the education law, in relation to school district bonds
and notification to taxpayers
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The education law is amended by adding a new section 3615
2 to read as follows:
3 § 3615. School district bonds; notification requirements. 1. Whenever
4 a school district shall present the budget, such school district shall
5 disclose the financial cost of all outstanding bonds which shall expire
6 in the upcoming fiscal year. For purposes of this section disclosure
7 shall be satisfied by indicating the annual financial payment that the
8 district has made in satisfaction of such bonds.
9 2. On every taxpayer's bill there shall be a separate line for the
10 amount of taxes which were paid in the respective fiscal year on such
11 school bonds.
12 § 2. This act shall take effect on the first of July next succeeding
13 the date on which it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07883-01-9
