What's happening
The bill allows certain school districts, excluding those in cities over 125,000 population, to deduct state debt service aid when calculating bonded debt limits.
Why it matters
Could make it easier for smaller and rural school districts to fund school infrastructure projects. by effectively raising their borrowing capacity—since they can deduct state aid for debt service from their bonded debt calculation, they may be able to take on more projects without breaching legal debt limits.
Creates a distinction between large urban and smaller/non-urban districts,. potentially providing targeted financial flexibility to districts that may have fewer resources or less access to alternative funding streams compared to big-city school systems.
May help address disparities in school facility quality. by giving less populous districts a tool to manage capital improvements, renovations, or expansions, thereby potentially improving student learning environments outside New York’s largest cities.
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Who cares
School districts in cities with 125,000 or fewer residents
The bill would allow these districts to deduct state debt-service apportionments when calculating bonded indebtedness limits.
School boards and district finance officials in those cities
The expanded definition would affect how they calculate available borrowing capacity.
School districts in cities with more than 125,000 residents
These districts would remain excluded from the definition governing the debt-service deduction.
Headline styles
Redefine Eligible School Districts
Plain English, a few words. Used as the page title.
Sponsors
Assembly Member · Assembly District 108
3 Co-sponsors
1 Multi-sponsor
History
- Substituted by S5425
- Rules report cal.689
- Reported
- Reported referred to rules
- Reported referred to ways and means
- Referred to local governments
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.
Update School Debt Rules
Vetoed · Sponsor Shelley Mayer
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7062
2019-2020 Regular Sessions
IN ASSEMBLY
April 4, 2019
Introduced by M. of A. McDONALD -- read once and referred to the Committee on Local Governments
AN ACT to amend the local finance law, in relation to allowing certain school districts to deduct state apportionments for debt service in the calculation of limits for bonded indebtedness
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph 2 of paragraph a of section 121.20 of the local finance law, as amended by chapter 506 of the laws of 1964, is amended to read as follows:
2. The term "school district" shall mean a school district other than a school district in a city with a population exceeding one hundred twenty-five thousand inhabitants.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10806-01-9
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.