New York S 5634: Permits the Village of Upper Nyack to file an application for a real property tax exemption

Bill Text

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S05634 Summary:

BILL NOS05634A

&nbsp

SAME ASSAME AS A07794-A

&nbsp

SPONSORPALUMBO

&nbsp

COSPNSRMATTERA, MAY

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MLTSPNSR

&nbsp

Add §31-g, R & SS L

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Authorizes the participation by free association libraries in the New York state and local employees' retirement system.

Go to top S05634 Actions:

BILL NOS05634A

&nbsp

02/26/2025REFERRED TO CIVIL SERVICE AND PENSIONS

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

02/06/2026AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

02/06/2026PRINT NUMBER 5634A

Go to topS05634 Committee&nbspVotes:

Go to topS05634 Floor&nbspVotes:

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

Go to topS05634 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5634--A

 2025-2026 Regular Sessions

 IN SENATE

 February 26, 2025
 ___________

 Introduced by Sens. PALUMBO, MATTERA, MAY -- read twice and ordered
 printed, and when printed to be committed to the Committee on Civil
 Service and Pensions -- recommitted to the Committee on Civil Service
 and Pensions in accordance with Senate Rule 6, sec. 8 -- committee
 discharged, bill amended, ordered reprinted as amended and recommitted
 to said committee

 AN ACT to amend the retirement and social security law, in relation to
 participation by free association libraries in the New York state and
 local employees' retirement system

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The retirement and social security law is amended by adding
 2 a new section 31-g to read as follows:
 3 § 31-g. Participation by free association libraries. A free associ-
 4 ation library as defined in section two hundred fifty-three of the
 5 education law and which meets the criteria set forth in this section,
 6 may by resolution adopted as provided in section seven hundred eight of
 7 the not-for-profit corporation law by its board of trustees and subject
 8 to the approval of the comptroller, elect to participate in the retire-
 9 ment system. Acceptance of its employees for membership in the retire-
 10 ment system shall be mandatory with the comptroller, who shall determine
 11 the amounts of contribution payable by such library and its employees,
 12 shall resolve questions of credit for prior service, and shall in all
 13 other respects assure that such employees share the same rights, obli-
 14 gations and benefits as other members of the retirement system. A free
 15 association library shall be eligible to join the retirement system
 16 under the following conditions:
 17 (a) such library shall be chartered by the state board of regents;
 18 (b) such library shall serve the entire population of its chartered
 19 service area;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07542-03-6

 S. 5634--A 2

 1 (c) the board of trustees of such library shall be elected by the
 2 voters of its chartered service area;
 3 (d) such library's budget shall be approved by the voters of its char-
 4 tered service area;
 5 (e) at least fifty-one percent of such library's budget shall derive
 6 from public sources; and
 7 (f) such library shall file the annual report with the comptroller as
 8 required of public libraries by section thirty of the general municipal
 9 law.
 10 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 This bill would permit any free association library which meets
 certain specific criteria to elect participation in the New York State
 and Local Employees' Retirement System (NYSLERS).
 Internal Revenue Service (IRS) plan qualification risk: permitting
 participation of non-governmental employees in NYSLERS jeopardizes the
 Retirement System's governmental plan status and its exemption from the
 Employees Retirement Income Security Act (ERISA). This would result in
 the loss of critical tax benefits and would substantially impair the
 System's value to over 1.25 million participants.
 Prior to the enactment of this legislation, we recommend that a favor-
 able ruling be obtained from the IRS stating that these provisions would
 not harm the qualification status of the Retirement System. It is esti-
 mated that the costs to obtain