New York A 2234: Establishes the city of New York education fund

Bill Text

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A02234 Summary:

BILL NOA02234 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORSmith

&nbsp

COSPNSRBrabenec, Sayegh, DeStefano

&nbsp

MLTSPNSR

&nbsp

Add §99-ss, St Fin L

&nbsp

Establishes the city of New York education fund from an additional real property tax to support education programs.

Go to top A02234 Actions:

BILL NOA02234 

&nbsp

01/15/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA02234 Committee&nbspVotes:

Go to topA02234 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA02234 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2234

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 15, 2025
 ___________

 Introduced by M. of A. SMITH, BRABENEC, SAYEGH, DeSTEFANO -- 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 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 a new section
 2 99-ss to read as follows:
 3 § 99-ss. 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 moneys 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 § 2. This act shall take effect the first of April next succeeding the
 17 date upon which it shall have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02015-01-5

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