New York Senate Bill S01469 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 1469 2025-2026 Regular Sessions  IN SENATE January 10, 2025 ___________ Introduced by Sen. STEC -- read twice and ordered printed, and when printed to be committed to the Committee on Education AN ACT to amend the education law, in relation to excluding the valu- ation of state forest preserve lands, within the Adirondack and Cats- kill parks, from the definition of "actual valuation" for purposes of apportionment of state moneys to school districts The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph c of subdivision 1 of section 3602 of the educa- 2 tion law, as amended by section 5 of part A of chapter 56 of the laws of 3 2023, is amended to read as follows: 4 c. "Actual valuation" shall mean the valuation of taxable real proper- 5 ty in a school district obtained by taking the assessed valuation of 6 taxable real property within such district as it appears upon the 7 assessment roll of the town, city, village, or county in which such 8 property is located, for the calendar year two years prior to the calen- 9 dar year in which the base year commenced, after revision as provided by 10 law, plus any assessed valuation that was exempted from taxation pursu- 11 ant to the class one reassessment exemption authorized by section four 12 hundred eighty-five-u of the real property tax law or the residential 13 revaluation exemption authorized by section four hundred eighty-five-v 14 of such law as added by chapter five hundred sixty of the laws of two 15 thousand twenty-one, and dividing it by the state equalization rate as 16 determined by the commissioner of taxation and finance, for the assess- 17 ment roll of such town, city, village, or county completed during such 18 preceding calendar year; provided, however, that the actual valuation of 19 a school district shall not include the valuation of any real property 20 within a state forest preserve that is either in the Adirondack park or 21 the Catskill park. The actual valuation of a central high school 22 district shall be the sum of such valuations of its component districts. 23 Such actual valuation shall include any actual valuation equivalent of EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04505-01-5 
 S. 1469 2 1 payments in lieu of taxes determined pursuant to section four hundred 2 eighty-five of the real property tax law. "Selected actual valuation" 3 shall mean the lesser of actual valuation calculated for aid payable in 4 the current year or the two-year average of the actual valuation calcu- 5 lated for aid payable in the current year and the actual valuation 6 calculated for aid payable in the base year. 7 § 2. This act shall take effect on the first of April next succeeding 8 the date on which it shall have become a law.