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Who cares
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Sponsors
2 Co-sponsors
History
- Referred to education
- Referred to education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires that any monies expended for pensions or other retirement benefits not be regarded when determining total spending for a school's contingency budget
In Assembly Committee · Education · Sponsor Amy Paulin
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to school district contingency budgets
Purpose or general idea of bill
This bill amends the Education Law to provide that expenditures related to pensions or retirement benefits not be included when determining total spending for purposes of a school district's contingency budget.
Summary of specific provisions
Section one amends subparagraphs (vi), (vii) and (vii) of subdivision 4 of section 2023 of the education law and a new subparagraph (ix) is added. The new subparagraph (ix) provides that all expenditures related to pensions or other retirement benefits be disregarded when determining total spending for purposes of a school district's contingency budget.
Effects of present law which the bill will alter
This bill amends the education law by taking out expenditures for pensions or other retirement benefits when determining total spending for purposes of a school district's contingency budget.
Justification
Because of the current budget deficit, looming cuts in school aid and skyrocketing pension and retirement costs school districts may be unable to meet their budgetary needs if their proposed budgets are not approved and limitations on contingency budgets imposed by the state do not adequately reflect the fiscal requirements of the school districts in light of the growing burden placed on schools by the escalating costs of pensions and other retirement benefits. This bill would ensure that contingency budgets would not wrongfully punish children for expenses out of the school districts' control by lifting the cap placed on contingency budgets in respect of that portion of a school district's budget comprised of pensions or other retirement benefits.
Prior legislative history
A.6858 of 2003-2004 A.344 of 2005-2006 A.1418/S.3517 of 2007-2008
Fiscal implications for state and local governments
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.