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S07133 Summary:

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S07133 Floor Votes:

S07133 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
            S. 7133--A                                            A. 9461--A
 
                SENATE - ASSEMBLY
 
                                     April 30, 2014
                                       ___________
 
        IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
          ed, and when printed to be committed to the Committee on Local Govern-
          ment  --  committee  discharged,  bill  amended,  ordered reprinted as
          amended and recommitted to said committee
 
        IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once  and  referred

          to  the  Committee on Education -- committee discharged, bill amended,
          ordered reprinted as amended and recommitted to said committee
 
        AN ACT in relation to the Tuckahoe common school  district  merger  with
          the Southampton school district in Suffolk county
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Notwithstanding any other law to the contrary and to trans-
     2  fer funds from a capital reserve fund pursuant  to  this  section,  upon
     3  voter  approval of the dissolution and annexation of the Tuckahoe common
     4  school district into the Southampton school district in Suffolk  county,
     5  such  successor  school  district  shall  be  authorized  to establish a
     6  reserve for tax reduction pursuant to subdivision 37 of section 1709  of

     7  the  education law. The proceeds of such reserve fund shall only include
     8  the proceeds of a capital reserve fund established  by  the  Southampton
     9  school  district  existing  before the voter approval of the dissolution
    10  and annexation of the Tuckahoe common school district, for the  purposes
    11  of  construction  of  a  new  district office building, where the school
    12  board of the successor school district  determines  by  resolution  that
    13  such  capital  project  and  reserve fund is no longer necessary for the
    14  operation of the successor district. The proceeds of  such  reserve  for
    15  tax  reduction shall only be utilized for tax reduction for taxpayers of
    16  the Southampton school district existing before the  voter  approval  of
    17  the  dissolution  and annexation of the Tuckahoe common school district,
    18  in the manner provided for by this act.

    19    § 2. The successor school district shall annually provide  a  detailed
    20  report  of  the  condition  of  the  school  district  reserve  for  tax
    21  reduction, including but not limited to:  (a)  the  date  the  fund  was
    22  established, (b) the balance of the fund at the close of the immediately
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14380-02-4
        S. 7133--A                          2                         A. 9461--A
 
     1  preceding school year, (c) the amount of interest earned at the close of
     2  the immediately preceding school year, and (d) a schedule of the amounts
     3  invested.
     4    §  3.  Funds in the school district reserve for tax reduction shall be

     5  used to maintain the successor school district estimated  tax  rate  for
     6  taxpayers  of  the Southampton school district existing before the voter
     7  approval of the dissolution and annexation of the Tuckahoe common school
     8  district at the level  of  such  tax  rate  in  the  Southampton  school
     9  district  for  the  school year before the voter approval of the dissol-
    10  ution and annexation of the Tuckahoe common school district.
    11    § 4. This act shall take effect immediately.