New York S 4025: Creates an emergency in education tax surcharge to fund an omnibus education financing plan in New York city

Bill Text

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S04025 Summary:

BILL NOS04025 

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SAME ASNo Same As

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SPONSORPARKER

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COSPNSR

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MLTSPNSR

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Add §1304-e, Tax L; add §2589, amd §2576, Ed L

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Creates an emergency in education tax surcharge to fund an omnibus education financing plan in New York city; provides for a maintenance of effort requirement.

Go to top S04025 Actions:

BILL NOS04025 

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01/31/2025REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

01/07/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Go to topS04025 Committee&nbspVotes:

Go to topS04025 Floor&nbspVotes:

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

Go to topS04025 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4025

 2025-2026 Regular Sessions

 IN SENATE

 January 31, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern-
 ment Operations

 AN ACT to amend the tax law and the education law, in relation to educa-
 tion tax surcharge

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

 1 Section 1. Legislative intent. The legislature hereby finds and
 2 declares that an omnibus education financing plan is essential to effec-
 3 tively and comprehensively provide a sound basic education to public
 4 school students in the city of New York. The "emergency in education"
 5 surcharge tax, grounded in the need to provide immediate, adequate
 6 support for public education in the city of New York, is such a plan.
 7 The plan recognizes and addresses several factors: (1) that increased
 8 operating aid is necessary to ensure New York city students are prepared
 9 to achieve the higher standards implemented by the New York state board
 10 of regents, (2) that the city of New York is committed to shouldering
 11 its "fair share" of the cost of educating students in its public
 12 schools, and (3) that students currently attending public schools in the
 13 city of New York cannot afford to wait as litigation concerning the
 14 state of New York's education financing system is decided by the courts.
 15 The mayor and the city council have agreed that the financing program
 16 provided for in this act will provide the funds necessary to implement
 17 the "emergency in education" plan. The state must authorize the new
 18 revenue sources requested by the city of New York to enable the city to
 19 effectively educate public school students.
 20 § 2. The tax law is amended by adding a new section 1304-e to read as
 21 follows:
 22 § 1304-e. Emergency in education tax surcharge. (a) In addition to the
 23 taxes authorized by any other section of this article, any city imposing
 24 such taxes is hereby authorized and empowered to adopt and amend local

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07617-01-5

 S. 4025 2

 1 laws imposing in any such city tax surcharges on (1) the New York city
 2 adjusted gross income, and (2) the tax due under section thirteen
 3 hundred four of this article of every city resident individual, estate
 4 and trust, as set forth in subsections (b), (c), (d), (e), (f) and (g)
 5 of this section.
 6 (b) For taxable years beginning in two thousand twenty-five, the tax
 7 surcharges imposed pursuant to the authority of this section shall be
 8 determined as follows: (1) a tax of one percent on the portion of the
 9 New York city source adjusted gross income of every resident individual,
 10 estate or trust and of every nonresident or part-year resident individ-
 11 ual, estate or trust, above one hundred thousand dollars, (2) a tax of
 12 one percent on the portion of such income above two hundred thousand
 13 dollars, and (3) a surcharge of twelve and one-half percent on the
 14 amount of tax due by every resident individual, estate or trust and of
 15 every nonresident or part-year resident individual, estate or trust
 16 pursuant to section thirteen hundred four of this article.
 17 (c) For taxable years beginning in two thousand twenty-six, the tax
 18 surcharges imposed pursuant to the authority of this section shall be
 19 determined as follows: (1) a tax of nine-tenths