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A3257Assembly2017-2018 Session

Reveal School Bond Costs

Official title

“Relates to school district bonds and notification to taxpayers”

Sponsor Andrew RaiaAD-12+1 co-sponsorAffects Education
Status
In Assembly Committee
Education
Impact
3/10
Low
Passage
0%

Bill progress

Step 2 of 7

In committee · Education

What's happening

This bill requires school districts to disclose bond costs in budgets and list school bond taxes separately on taxpayer bills.

Why it matters

  1. Increases transparency for taxpayers. by requiring school districts to separately disclose the financial impact of outstanding bonds in budget presentations, making it easier for residents to see how much of their money is going toward debt repayment.

  2. Empowers voters and parents. to better understand the long-term costs associated with school construction and improvement projects, possibly influencing support for future bond proposals by clarifying actual financial commitments.

  3. Facilitates more informed financial planning. for households, as property tax bills will now specifically break out the portion attributable to school bond repayments, helping families see where their taxes are going and budget accordingly.

  4. May enhance public accountability. for school boards and administrators, as clearer reporting on bond expenses could prompt more careful decision-making regarding new borrowing and highlight the impact of past financial choices.

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Who cares

Headline styles

Reveal School Bond Costs

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Andrew Raia

Assembly Member · Assembly District 12

1 Co-sponsor

History

  1. Held for consideration in education
  2. Referred to education
  3. Referred to education

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

3257

2017-2018 Regular Sessions

IN ASSEMBLY

January 27, 2017

Introduced by M. of A. RAIA, McKEVITT, SALADINO, FINCH -- Multi-Sponsored by -- M. of A. BARCLAY, FITZPATRICK, GIGLIO, McDONOUGH -- read once and referred to the Committee on Education

AN ACT to amend the education law, in relation to school district bonds and notification to taxpayers

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

Section 1. The education law is amended by adding a new section 3614 to read as follows:

§ 3614. School district bonds; notification requirements. 1. Whenever a school district shall present the budget, such school district shall disclose the financial cost of all outstanding bonds which shall expire in the upcoming fiscal year. For purposes of this section disclosure shall be satisfied by indicating the annual financial payment that the district has made in satisfaction of such bonds.

2. On every taxpayer's bill there shall be a separate line for the amount of taxes which were paid in the respective fiscal year on such school bonds.

§ 2. This act shall take effect on the first of July next succeeding the date on which it shall have become a law.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD06827-01-7

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.