Authorizes the Bay Shore union free school district to transfer surplus monies from its reserve funds to the general fund for the purposes of reducing real property taxes in support of such school district.

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S2634-2011 Actions

• Jun 14, 2011: RECOMMIT, ENACTING CLAUSE STRICKEN
• Jan 27, 2011: REFERRED TO EDUCATION

S2634-2011 Meetings

Education: Apr 12, 2011

S2634-2011 Memo

BILL NUMBER:S2634

TITLE OF BILL:
An act
to authorize the Bay Shore union free school district to transfer
certain monies from reserve funds to the general fund for the purpose of
real property tax reduction

PURPOSE:
To authorize the Bay Shore Union Free School District to transfer
surplus monies from certain reserve funds to the general fund for
purposes of reducing real property taxes.

SUMMARY OF PROVISIONS:
Section 1 of the bill authorizes the Bay Shore Union Free School
District to transfer to its general fund surplus monies in any
reserve fund established by the school district for the sole purpose
of reducing real property taxes.

Section 2 of the bill provides for the effective date.

JUSTIFICATION:
The Bay Shore Union Free School District is facing very difficult
budget conditions and would like to use surplus monies in its reserve
accounts to reduce real property taxes for the district's property
owners. This bill would provide the school district with the
statutory authority to utilize any such reserves on hand.

LEGISLATIVE HISTORY:
2009-2010: S.4427/A.80B7

FISCAL IMPLICATIONS:
To be determined.

LOCAL FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.

S2634-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    2634

                         2011-2012 Regular Sessions

                              I N  SENATE

                              January 27, 2011
                                 ___________

  Introduced  by  Sen. JOHNSON -- read twice and ordered printed, and when
    printed to be committed to the Committee on Education

  AN ACT to authorize the Bay Shore union free school district to transfer
    certain monies from reserve funds to the general fund for the  purpose
    of real property tax reduction

    THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section 1. Notwithstanding any other provision of law, rule  or  regu-
  lation  to  the  contrary,  the  Bay Shore union free school district is
  authorized to transfer to the general fund of such school district,  for
  the  sole  purpose of real property tax reduction, all surplus monies in
  any reserve fund established by such school district.
    S 2. This act shall take effect immediately.







   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD06988-01-1