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Sponsors
No co-sponsors yet.
History
- 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.
Relates to the calculation of "adjusted gross income" for purposes of computation of state aid
In Assembly Committee · Education · Sponsor John T. McDonald III
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6724
Title of bill
An act in relation to the calculation of "adjusted gross income" for purposes of computation of state aid
PURPOSE:To provide a provision in section 3602 of the education law for the 2014-15 school year for any school district in which the adjusted cross income for the 2011 calendar year exceeds the adjusted gross income for the 2010 calendar year by greater than fifty percent but less than one hundred percent.
SUMMARY OF PROVISIONS:Section 1. Notwithstanding any provision of the law to the contract, for purposes of computing state aid pursuant to section 3602 of the education law for the 2014-15 school year for any school district in which the adjusted gross income for 2011 calendar year by greater than fifty percent but less than on hundred percent, "adjusted gross income" shall mean the adjusted gross income of a school district for the calendar year four years prior to the calendar year in which the current year commences. The income date shall be computed in accordance with regulations adopted by the commissioner of taxation and finance based upon personal income tax returns for the calendar year three years prior to the calendar year in which the current school year commences, as reported to the commissioner by September of the base year, including the results of the permanent computerized statewide school district address match and income verification system.
Section 2 provides the effective date.
Justification
The New York Lottery's sole mission is to earn revenue for education. Therefore, when the lottery causes unintentional cuts to education, there is a fundamental issue that needs to be addressed. Specifically, in the village of Green island, after a resident won a $28.7 million share of a $319 million Mega Million prize, it caused an increase in the Green Island School Districts' Combine Wealth Ratio for the 2014-15 school year which has resulted in a cut to their education aid.
The $28.7 million jackpot was equivalent to 68 percent of the $42 million annual earnings of the 2,610 residents of the village. When you add the numbers together, Green island's income jumped to $70.7 million in 2012 which would make Green Island appear to have the same resources as some of the richer and larger suburban districts when in fact 59 percent of the 331 students receive free or reduced cost meals and nearly 45 percent of the district's $6.3 million budget is funded by the state. Additionally, the resident who won the lottery sold their home and moved out of state.
This provision in the education law would protect the school district in which the adjusted gross income for the 2011 calendar year exceeds the adjusted gross income for the 2010 calendar year by greater than fifty percent as a result of the lottery winnings.
Legislative history
This is a new bill.
Fiscal implications
None to the state.
Effective date
This act shall take effect July 1, 2014.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.