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No co-sponsors yet.
History
- Referred to education
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7454
Title of bill
An act to amend the education law, in relation to the applicability of interest charged for unpaid school district taxes
Purpose
This bill relates to the applicability of interest charged for unpaid school district taxes.
Summary of provisions
Section 1. Section 2023-a of the education law is amended by adding a new subdivision 10 to read as follows: Notwith- standing any other provision of law to the contrary, a School district shall only charge interest or any other penalty authorized by state or local law on the portion of taxes levied that remains unpaid on or after the date such taxes are owed. Interest or penalties shall only begin to accrue on or after the date such taxes are due.
§ 2. This act shall take effect immediately; provided that the amend- ments to section 2023-a of the education law made by section one of this act shall not affect the repeal of such section and shall be deemed repealed therewith.
Existing law
Current law does not reflect the actual time interest rates should be charged but in actually accrued.
Justification
School districts split the payment of school taxes due into two separate payments. The first half being due in September and the second half due in November.
This bill changes current law by insuring school districts charge accrued interest or penalties beginning after the date such taxes are due. It prevents school districts and municipalities from charging interest or penalties on tax that has already been paid. In other words, if a person has paid the 1 g half of his or her taxes on time but then fails to pay the 2nd half on time, interest can only be charged begin- ning on the actual date the 2nd half of the tax was due.
This bill addresses the issue by using the actual due date of the taxes not paid as the starting point for the interest accrual.
Legislative history
None
Fiscal implications
To be determined
Local fiscal implications
To be determined
Effective date
This bill shall take effect immediately
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.